So everyone is talking about ETF now.. ETFs will pump bitcoin to All time high,this and that... what exactly ETF is...Why BTC will pump becoz of ETF approval..!!!??

To clear this...

"An ETF is a type of fund that owns the underlying assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares."

So Bitcoin itself would actually have to be purchased for whatever ETF is allowed to launch...

Yes ,this is not the first time that they applied for ETF...

They applied for ETF last year as well..But it got rejected due to some reasons...

Look at this chart..

The higlighted daily Candle is the day that this decision was made.

When ETF attempt was made in 2016 (the year before last when the last rejection occurred), and it was ruled a 'no' by the SEC.

That was one as an application put in by SolidX Bitcoin Trust.

U can see the massive dump after that..

I'm not sure how the intersection of all of these factors will change things.

I am, however, bearish on this ETF proposal being approved because the reasons for declining the request before were the exact same issues that they would have with Bitcoin now

Check out a quote from their rejection later to the Winklevoss twins last year in 2017,

"Several commenters note that the majority of bitcoin trading occurs on exchanges outside the United States. One commenter claims that most daily trading volume is conducted on poorly capitalized, unregulated exchanges located outside the United Sates and that these non-U.S. exchanges and their practices significantly influence the price discovery process. Another commenter states that the biggest and most-influential bitcoin exchange is located outside U.S. jursidction.

One commenter states that, since 2013, the price of bitcoin has been defined mostly by the major Chiense exchanges, whose volumes dwarf those of exchanges outside China. According to the commenter, those exchanges are not regulated or audited, and are suspected of engaging in unethical practices like front-running, wash trades, and trading with insufficient funds. The commenter interprets pricing data from these Chinese exchanges to mean that the price of bitcoin is defined entirely by speculation, without any ties to fundamentals. Another commenter also observes that Chinese markets drive much of the volume in the bitcoin markets and the the bitcoin/Chinese Yuan (BTC/CNY) quote is apt to trade at a significant premium to the bitcoin/U.S. dollar (BTC/USD) quote.

The commenter points out that large arbitrage opportunities would not exist for long in efficient markets, but they do persist in bitcoin markets."

These are the comments from the SEC decision document they handed to the Winklevoss twins after the denial of their ETF application last year, it seems like those comments are the ones that weighed the most heavily for the SEC.

Check out one important statement they made in that document below:

"A key consideration for the Commission [SEC] in determining whether to approve or disapprove a proposal to list and trade share of a new commodity-trust ETP is the susceptibility of the shares or the underlying asset to manipulation."

So this time It seems like it would be even more easier to make this statement (REJECT) this year than last.

There weren't a slew of investigations going on in March 2017. Tether wasn't really an issue at that point and ICOs had not reached their mania point that would occur later that year.

By looking at all these ,I personally feel 2017 presented itself as a stronger opportunity than 2018.

Recent tweet from coinbase is

https://twitter.com/coinbase/status/1017863344785510400