Yet the price has only dropped around 80 dollars compared to yesterday. Not too bad. For a few minutes it dropped by around 250 dollars but it picked up quickly somehow.
I'm talking about compared to yesterday, not the highs from today. It hasn't dropped by 200 since I posted my comment.
It just happened, not many people are aware of this news yet and Bitcoin tends to be volatile as all hell, give it a few days to sort itself out.
More specifically, wait for the news to be translated to Mandarin
The publicity from this, even though it was a negative decision, will be a hugely positive to the price in the medium term. For reference Go look at what happened after the Silk Road take down, or the Chuck Schumer news conference where he told the world he just learned how you could buy drugs for Bitcoin.
it went up 1000% without the ETF...suggesting anticpation of the ETF only played a minimal role..I would be a dip buyer here
On the other hand, anticipation of the ETF may have been responsible for the last few months of increases from ~700-1250 USD. But that's pure speculation on my part.