Bitcoin is getting reconsidered once again do you think its going to get approved or denied? Approval does it mean BTC rockets up ? Denial does it mean it takes a dump like in March? May 15th is the last day of approval.
i think if rejected, much people can dump bitcoin
the big bitcoin investor can playing price to buy bitcoin in low price with dump
We have not seen a huge dump during the first rejection of ETF, and a bitcoin price increased on the 2nd rejection of Bitcoin ETF. I do not think that the upcoming decision after SEC review the Bitcoin ETF have a major effect on bitcoin price if it gets rejected. It may pump the price if the decision is reversed and accepted the Bitcoin ETF since it will bring in more fund to Bitcoin economy.
I think the first rejection of SEC coupled by the scaling issue, causing the big dump below $1000. But if ever the review will result in the same decision, there could be minor price decrease, but it would not like the dump on the first rejection. Bitcoin price is more stable than ever, and I don't think the rejection will cause it to drop below $1000. Investors or even casual traders are already matured to think on just dumping bitcoin. Unlike before, we have already have a country backing up bitcoin, Japan leading the way in terms of trading volumes at 50% everyday.