Some group of people has argued we will experience another high surge in Bitcoin Price early 2019 when ETF get approved while some said ETF does not have any crucial role in influencing Bitcoin Price positively. From the little experience i have acquired since i started trading on Cryptocurrencies , i have got to realize price Predictions has never been any effective .The underlying theory of Bitcoin price determinants still remain a mystery unlike in traditional market unless someone got a Crystal ball. lols. Some experts has made lots of wrong prediction in the past.
Bitcoin ETF approval is very complex, because it requires SEC to maintain a balance between providing investors with unique, strange, odd opportunities and ensuring that financial products must be safe. As always the negative consequences of regulatory decisions can only be evaluated after the event (this thing reminds me about CBOE and Bitcoin Future), this means explaining that the US SEC must be extra 'careful' in evaluating every ETF application.