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.
Bitcoin ETF denied. This is good for Bitcoin because….https://t.co/tmF0BZHvQG
— En1gma (@ibcen1gma) March 10, 2017
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.If you enjoy the content at iBankCoin, please follow us on Twitter