Bitcoin ETF Denied - Price Drops From $1350 to $980 Within Hours

The decision is out. Bitcoin ETF has been denied.

After bitcoin jumped to an all time high of  above $1,300 , it has started crumbling down the hill. As I am writing this story, bitcoin is trading at around $1k. 

It will be interesting to see how other currencies react to this decision. The next 24 hours will see a lot of trading. DASH is likely to go down as well as it was trading heavily with BTC. Investors like me who were waiting on the decision to come out will now start buying...

What are your thoughts? How far do you think bitcoin is going to drop? Will it also affect dash and other altcoins?

Here are some links about the news:

https://cointelegraph.com/news/breaking-etf-denied-bitcoin-price-drops-from-1350-to-980-within-hours

https://www.forbes.com/sites/laurashin/2017/03/10/sec-rejects-winklevoss-bitcoin-etf-sending-price-tumbling/#10b9ad46643c

https://www.reddit.com/r/BitcoinMarkets/comments/5yoqjq/bitcoin_etf_officially_disapproved/

https://www.reddit.com/r/Bitcoin/comments/5yopvy/bitcoin_etf_disapproved/

https://bitcointalk.org/index.php?topic=1821060.0

https://www.sec.gov/rules/sro/batsbzx.htm

http://www.reuters.com/article/us-bitcoin-etf-idUSKBN16H2NU?il=0

http://www.teletrader.com/sec-denies-winklewoss-request-for-bitcoin-etf/news/details/38051939?ts=1489182338131

http://etfdailynews.com/2017/03/10/sec-rejects-winklevoss-bitcoin-etf-btc-crashes-immediately-below-1000/

http://www.cnbc.com/2017/03/10/us-sec-rejects-application-to-list-bitcoin-etf.html

http://www.marketwatch.com/story/sec-rejects-proposed-winklevossbitcoin-etf-citing-lack-of-regulation-2017-03-10

https://themerkle.com/bitcoin-etf-officially-rejected-by-the-sec/

https://www.xrpchat.com/topic/3208-bitcoin-etf-denied-discussion/

http://www.channelnewsasia.com/news/technology/us-sec-rejects-application-to-list-bitcoin-etf/3586906.html