The Recent Postponement of the VanEck ETF is surely enough to create some panic selling in the short-term Bitcoin market, but for most I believe the bigger picture casts a far bigger and more promising shadow over the immediate doubt.
News of this kind is a very good thing in my opinion because it helps to shed light on a few different areas of the Bitcoin market. Namely the weeding out of the all the unstable money from all the weak minded individuals who do not have stomach to ultimately handle the ups and downs of an ever changing, ever evolving revolutionary new form of currency.
Monetary gain is usually the focal point of Bitcoin for many and rightly so, but this can also be the stumbling point to the average amateur investor. Without belief in a long-term vision or use case for Bitcoin most get caught in the alluring trap of trying to become overnight millionaires and then panic the second the price dives and subsequently sell as quickly as possible. Well I say "Sorry about your loss, thanks for playing", because in reality you just helped me more than you know.
This is where opportunities arise... Now the rest of us get to buy in at a lower price point and acquire more than we could if the SEC announcement had gone the other way. Remember this is a long-term game, and we are only in the beginning stages. This all still very new and will have many more price fluctuations before it is all said and done. Personally I like to follow the news and charts closely take profits when I can, take advantages of opportunities like this, and dollar-cost average regardless.
_ The take away from all of this is sometimes "Bad News" is "Good News". For many like myself who didn't get in as early as 2013 any opportunity to advance my position is not taken for granted. The window for price points this low are closing in everyday. In the near future the price of one Bitcoin will be astounding, and we will look back a prices of $6500 and think "I wish...". So to those who know the stakes soak up the moment, and to those who can't handle them sorry about you loss, thanks for playing_
-Happy Trading
