by Tyler Durden Among the big drivers behind the recent move higher in the price of bitcoin - in addition to the traditional "capital outflow" demand out of China - has been widespread hope that the SEC will approve the first bitcoin ETF.And contrary to our report from January that such a decision, and ETF, will be delayed substantially, today Coindesk writes that according to its sources, the ETF decision is expected, either affirming or denying, by Friday.The SEC has a March 11th internal deadline, Coindesk reported, to decide on the proposed rule change that would clear the way for the ETF, which would be the first of its kind.However, as the 11th falls on a Saturday, that decision will come before that date, "potentially before Friday", the source said.The decision would cap a more than three-year period since investors Cameron and Tyler Winklevoss first filed with the SEC in mid-2013.In case of a favorable outcome, some analysts and traders have speculated that bitcoin markets could rise as a result, although considering the recent ramp in BTC's price in recent weeks, the news may have been priced in and holders may instead sell the news.

Bitcoin's price has approached $1,300 in recent sessions, rising above $1,290 on March 3rd.However, the price has kept sliding, eventually experiencing a sharp drop on Tuesday as reported earlier on fresh concerns about China, when BTC briefly traded back under the price of one ounce of gold.On the other hand, analysts have argued that, should the SEC reject the rule change that would allow the Bats Global Exchange to list the ETF, bitcoin's price could be negatively affected.Phil Bak, who was previously a New York Stock Exchange managing director and currently serves as CEO for ETF issuer ACSI Funds, told CoinDesk that, generally, the SEC seeks to avoid the appearance of "publicly rejecting an ETF."He went on to argue that, if the agency didn't plan on approving one of these funds, it would likely ask for the filing to be pulled ahead of any final decision.Yet according to Bak, the lack of such a pullback so close to the deadline could be driven by other factors specific to the bitcoin ETF.

"In this case, the government agency may want to show the world it is unsure about bitcoin.Alternatively, it could also be that the advocates want to support it to the end and let this proposed fund get its day in court, rejection or not" Bak explained.Others believe the odds of either outcome are about even: Arthur Hayes, co-founder and CEO of exchange platform BitMEX, said "I have heard good arguments for and against the ETF being approved.ethereum card comparisonAt this point it is a coin toss."bitcoin loan in nigeriaHayes' exchange is home to an ETF-tied prediction market, where traders can essentially bet on the outcome of the decision, and that has seen significant fluctuations over the past month.bitcoin universal income

At times, traders have given the fund estimated chances of between 2% and 70%, depending on the day.At press time, the prediction market shows a roughly 50% estimated chance of approval.Charles Hayter, co-founder and CEO of CryptoCompare, offered similar sentiment, stating that the fund's odds of receiving approval are "more than likely plucked out of the air on this one".Those close to the industry aren't the only ones comparing the SEC decision to a coin flip.bitcoin tl drBloomberg's Eric Balchunas has similarly argued that the ETF has about a 50-50 chance of receiving approval.bitcoin conference in austinWhile there is much money to be made (or lost) depending which way the SEC rules, the waiting is almost over.... or perhaps not.ethereum buy circleEven if the Coinbase source is accurate, and the SEC has an approaching deadling, one analyst has warned that those hoping for a conclusion to the years-long process might not get an answer until after that date.berita bitcoin 2015

and ETF expert, speculated that the SEC could punt its decision further past the 11th, particularly in light of recent price gains."I have the feeling they will find a way to delay this even more though.With bitcoin at all-time highs and the SEC having a terrible record for allowing new ETFs to come to market at absolute tops, they will likely push back on this until things cool a bit," he said.For his part, Bishop believes the ETF should be approved.litecoin price nz"It should be up to investors to decide the true price of bitcoin.bitcoin nba bettingThe more liquidity and options [there are] to trade it, the more transparent and accurate the pricing will be."Thanks for joining us for this edition of our news roundup.In this edition, we recap on headlines covering bigger picture price predictions, bitcoin ETF basics and the much anticipated SEC ruling, plus we touch on some of the developments unfolding for bitcoin in Venezuela and Nigeria.

Keep reading to find out!2017 is showing just how resilient and fierce Bitcoin is., a Seeking Alpha article advises evaluating both price analysis and fundamental analysis metrics.Yes, the “steep rally of 2013” is significant to contrast with the “slow and steady rise in the last 2 years.” But, fundamentally, data demonstrating a rise in acceptance is most helpful.The results from their bigger picture research show bitcoin is becoming less of a speculative market and is gaining in legitimacy and acceptance.Since investors prefer a slow and steady rise versus dramatic fluctuations, the article notes a healthy price correction would be beneficial to encourage investor confidence.Will we see a $2000 price point in 2017?They speculate that it’s quite possible.A common argument and relevant concern from bitcoin’s naysayers during record price hikes is that a bubble is building and a dramatic plunge in price is imminent.asserts it isn’t likely this time around., he refers to a scale developed by global equity investor and Yale Lecturer, , to illustrate this further.

According to Mansharamani’s scale and , bitcoin scores a total of 1.5 out of 5.In other words, a bubble could develop, but it doesn’t appear to be right now.A helpful rehash of notable bubbles in bitcoin’s history can be found .Sanity prevailed & the SEC denied the Bitcoin ETF application.It was premature – next year!Time to focus on fixing the community divide!https://t.co/WgEvsYe9hT — Vinny Lingham (@VinnyLingham) March 10, 2017 Taking center-stage in the headlines, alongside the recent price, has been the much anticipated ruling on bitcoin’s first ever US-issued exchange-traded fund (ETF).The SEC, which has rejected the Winklevoss twins’ application for a bitcoin ETF, handed down the verdict on March 10th after several years of deliberation.As per a New York Times article, their reason for rejecting stems from “concerns about the potential for fraudulent or manipulative acts and practices” in such an unregulated market.In the lead up to the SEC’s decision, opinions have been quite polarizing, with some feeling optimistic about a bitcoin ETF and approval likelihood, and others taking a more pessimistic view.

If you want to hear both points of view, Forbes contributor Laura Shin gave the stage to on her podcast, .Anyone less seasoned on financial markets and SEC policy may have (at least) several questions, like “what’s an ETF?” and “what are its pros and cons?” Previously featured guest blogger takes a beginner-friendly approach to answering these questions in .A more detailed Q&A can be found in an , who represents the pessimist’s side of the conversation in Shin’s ETF podcast episode.Bogart saw the possibility of approval at less than 25%.Long time bitcoin pioneer, Vinny Lingham, also resides on the pessimistic side and suggested odds of 10-15%.Lingham as being in bitcoin’s current best interest, and he speculated that such an event could trigger the next big boom and bust cycle.Both ETF pessimists agree rejection would have minimal price impact, with estimates ranging from roughly 10-15%.On the opposite end of the spectrum, public comments received by the SEC .Objections among the remaining 28% center around network concerns, like the around scalability solutions.

Philip C. Chronakis, Attorney and Adjunct Professor of Law, admits that rejection will not stop the progress of bitcoin.However, he sees approval as a way to prioritize the development of bitcoin as an investment asset.Co-Founder and CIO of Toroso Investments, Mike Venuto, saw  and holds an optimistic viewpoint of what could happen post-verdict.While both crowds waited for the final word from the SEC, bitcoin will continue to power forward regardless of what happens.And how has the price faired since the ETF rejection?The price did see a tumble to around $1,060 USD, but bitcoin made the upwards climb over the weekend and currently sits around $1,213 on Bitfinex.Bitcoin enthusiasts are seeing this as a “small bump in the road” and further demonstration of its resilience (or “street cred“) as an unregulated currency., we recapped the economic crisis and bitcoin activity in Venezuela.In light of the government’s recent bitcoin crackdown, those who use it to remain undetected.Despite the silence, trading volume on LocalBitcoins in the region , which is likely due to SurBitcoin .