Quote from: 1Referee on October 22, 2018, 08:58:11 PM

Quote from: aqila baruroh on October 21, 2018, 04:53:08 PM

if the ETF is rejected, it is likely that the price of bitcoin can fall back below $ 6k, but if the ETF is received the price of bitcoin can reach $ 25k.
the conclusion is that ETF determines everything.

ETF rejections and delays are calculated in already. We were a point at which the speculation around the ETF was almost generating traders *free* money with how the market did what you and me were expecting it to do. Once your neighbour starts to figure out how things work in a market, they usually will no longer work.

Everything reaches a peak. Eventually when an ETF comes through the demand will shrink as well, and what happens the price either consolidates or drops. It's a one time event that you can't rely on endlessly, which is why actual use is the most powerful and near endless source of growth for Bitcoin. It's much better to focus on that than to hop from event to event just to sell the peak, but I'm probably one of the few thinking like that here. Roll Eyes

Indeed, it's similar to how traders were making free money basically on all the PBOC press releases in which they said they were banning assorted crypto exchanges and whatnot.

We had a period were it was rather obvious that a dip was going to happen, it was pretty ridiculous. Obviously these things don't last forever so the market stopped giving a fuck about the Chinese government:

As with everything else in markets, the shock factor is gone, same for ETFs rejections and anything else, so we may have bottomed and we are flat until the big meteor called halving to remind everyone that the supply is shrinking but there's bitcoin for everyone, it's just a function of price.