I think a lot of people is going to go bankrupt with their short expectations.
ETF or not, bitcoin is growing and too strong, it will keep growing. If the ETF is rejected, it just means we are closer than we were from an ETF getting accepted. The SEC will give up the final recommendations and changes required for the ETF to get passed the next time. This is a long term race. ETF rejected means nothing. Shorts that are expecting a big crash may have their short positions backfire.
Agreed, but if it does crash this will be a contributing factor, just like how the drop from the PBOC scare happenedETF or not, bitcoin is growing and too strong, it will keep growing. If the ETF is rejected, it just means we are closer than we were from an ETF getting accepted. The SEC will give up the final recommendations and changes required for the ETF to get passed the next time. This is a long term race. ETF rejected means nothing. Shorts that are expecting a big crash may have their short positions backfire.
Again imho. (Not that I know zip...at one time I drank the butterfly labs kool-aid). I STILL think if it does NOT get passed at this point in time it will 'expose' 2 things
1) The powers that be really, really hate BTC and the notion of a BTC ETF the last week, after a 3.5 year quest. That would tell me something about coming backlash
on BTC and cyrpto in particular imho.
2) IF again, it does NOT get passed. Then the folk that turned it down, will really, really have to be nit picky and find lots of ifs/ans/or butts, because last I heard
there are at least 3 groups trying to fix their own brand of ETF for BTC ASAP. Thus, it the twins ETF is turned down this week, the powers that be will have to say WHY
which will allow the 3 late comers to 'adjust' accordingly. Gonna be harder and harder to justify imho. Especially if BTC continues to rise in value and show more
stablity as a platform.
If nothing else a denial of the ETF (if it happens) will be very eye opening and open some more light on the process in the future...making it less likely the next ETF
attempt to take 3.5 years.
Again ...I've no clue..just how I am approaching this. Also if it does not pass I expect a 25% dump in price ...say around 900 bucks usd with a 2 month recovery to ATH again.
We will see I guess. IF they are gonna kill it ..I wish they'd get on with it...I got 'cheap coin' I need to buy if that is the case
