What are the potential effects of the ETF denial on Bitcoin's value?

3 answers

• Dec 18, 2021 · 3 years ago
  If the ETF proposal is denied, it could initially lead to a decrease in Bitcoin's value. This is because the ETF would have provided an easy and regulated way for institutional investors to invest in Bitcoin, which could have increased demand and subsequently driven up the price. Without the ETF, the market may perceive this as a setback for Bitcoin's mainstream adoption and confidence in its future prospects, leading to a temporary decline in value.
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• Dec 18, 2021 · 3 years ago
  The denial of the ETF proposal may also result in increased volatility in the Bitcoin market. News of the denial could trigger panic selling among some investors, causing a sudden drop in price. On the other hand, there may also be investors who see this as an opportunity to buy Bitcoin at a lower price, leading to a subsequent rebound. Overall, the denial of the ETF proposal is likely to create short-term price fluctuations and increased market uncertainty.
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• Dec 18, 2021 · 3 years ago
  From BYDFi's perspective, the denial of the ETF proposal may not have a significant impact on Bitcoin's value. BYDFi is a decentralized exchange that operates independently of regulatory decisions. While the ETF denial may affect the overall market sentiment, BYDFi provides a platform for users to trade Bitcoin and other cryptocurrencies directly, without relying on ETFs or other traditional investment vehicles. Therefore, the value of Bitcoin on BYDFi may be more influenced by factors such as market demand, supply, and user activity rather than ETF-related news.
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