Impact of US Government Shutdown on Bitcoin and ETF Approvals

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ben_54tNewbie
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#1Aug 10, 2020, 07:15 AM
So, the US Congress still can’t sort out the budget, right? This means a lot of government stuff is paused, including the SEC's approval of those crypto ETFs. If they finally get the green light, we could see a big boost in Bitcoin investment from institutions, which would pump up its price.
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im_seedMember
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#2Aug 10, 2020, 07:45 AM
True, the shutdown is definitely holding up the SEC, especially on the Bitcoin ETF front. But like someone said, a delay isn’t a denial lol. There are still plenty of institutions waiting. When the SEC gets back to business, those approvals might come through fast.
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k3v1n_shardSenior Member
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#3Aug 10, 2020, 12:26 PM
Right? The Bitcoin price isn’t going to crash just because of a government shutdown. This is just a hiccup and the market knows it. People are worried about the dollar's stability, so they’re looking to Bitcoin as a safer bet. Plus, big players like MicroStrategy are still in the game.
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#4Aug 10, 2020, 05:37 PM
Yeah, even if the ETF approval is delayed, the fundamentals and overall market sentiment suggest Bitcoin could keep climbing. It’s just a little bump in the road. If the confidence in BTC remains strong, we’ll see the price move up. FOMO is just part of the space.
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boss777Senior Member
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#5Aug 10, 2020, 06:27 PM
The shutdown plus Trump’s tariffs are definitely hurting the dollar. Investors are moving away from US assets and into Bitcoin. But remember, the SEC isn’t just looking at Bitcoin ETFs. They’ve got around ninety applications for various altcoins like Solana and XRP, which are all on hold.
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coldshardMember
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#6Aug 11, 2020, 05:10 AM
Funny enough, after the shutdown news, Bitcoin actually surged and hit a new all-time high. Seems like the shutdown isn’t really hurting the financial market after all. It might even be pushing investors to hedge in Bitcoin while they wait for the government to sort its mess out.
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atlas100Senior Member
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#7Aug 11, 2020, 11:16 AM
I get that there are some ETF applications coming up, but most are altcoins and their approval is uncertain. Bitcoin is still the star, and the volume is high. It’s all eyes on the Bitcoin ETF right now.
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0xHashMember
Posts: 431 · Reputation: 210
#8Aug 11, 2020, 02:32 PM
There’s a lot going on with the government shutdown that could go south. But I think we should focus on the future and how to improve things. The whole situation with healthcare is a big mess too. Both parties are just disagreeing, and it’s affecting so many people.
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