Bitcoin ETF DENIED by SEC

UPDATE: ETF denied. Bitcoin dead cat bounced off $1,000. I think we’ll have a final capitulation spike down and then resume upward trajectory for rest of 2017. 4 years in the making and the entire ETF drama will be forgotten by next week.

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The SEC decision regarding the Winklevoss Bitcoin ETF is due March 11 (Saturday). Expect an announcement around 430PM EST today.

In anticipation, Bitcoin had a $170 5 min candle today. $170 in FIVE MINUTES. Even for Bitcoin that is ridiculous. $1200 > $1360 > $1190. Bitcoin is a rodeo bull, just try to hang on.

 

I expect either $2,000 or $1,000 Bitcoin within 7 days. I am leaning that the ETF is denied and we test $1,000. I’m a buyer post announcement either way. If denied, we’ll have a buying opportunity and the entire ETF will just be a blip on the chart by Q2 2017.

However, if the ETF is approved then we’re in uncharted territory. Buy the rocket and hold on.

About coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

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4 comments

  1. For what it’s worth Kim DotCom is a huge Bitcoin bull. Guy knows a thing or two.

  2. ETF denied. Bitcoin dead cat bounced off $1020. I think we’ll have one final capitulation spike down and then it’s business as usual as fiat currencies and political catastrophes unfold.

    Bitcoin volatility today will be the foundation of stability by year end.

    $2,000+ Bitcoin by end of 2017.

  3. Kimdotcom is a showman. He’s also a blowhard. I enjoy his showmanship but he’s mostly full of crap. His Megaupload 2.0 non launch was hyped for over a year.

  4. He’s got some movie coming out soon. That might be worth a watch.

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