Bitstamp tested $1298 some hours ago. Interestingly for some reason, it's higher than the Bitfinex peak at $1294 (bitfinex always has the higher price for some reason)
In any case, looks like we will test the barrier again, we'll see what happens.
if ETF will receive a negative response probably we can see again a value below 1000$, and I don't get surprised if price start to climb some days before SEC reply.
I hope a bad news doesn't lead to a large dump... it means we can forget another pump for at least a couple of years.
But we don't necessarily need another pump at the moment, or anytime soon for that matter. The price has been steadily climbing up since 2014 and it'll likely keep going that way regardless of ETF results. Rejection could possibly result in a small dip but after the price has recovered from that, it'll probably continue upward like it has for the past 3 years.
IMO this is because adoption is slowly and steadily increasing across the globe and the price is increasing along with it.
Regardless of that, I'm still personally hoping the ETF gets approved.