giftedviz.com
giftedviz.com December 16, 2018


Bitcoin Price Falls Drastically After Bitcoin ETF Decision is Postponed

11 August 2018, 07:21 | Austin Hogan

Bitcoin Price Falls Drastically After Bitcoin ETF Decision is Postponed

Bitcoin Price Falls Drastically After Bitcoin ETF Decision is Postponed

After the final decision has been made on the 30th of September though, that's when we could see some real changes.

This is the highest level since December 20, 2017, just days after bitcoin hit its record high of $19,783.21 on December 17.

Bitcoin retreated as much as 7% to $6,393.70 at noon in London, extending its 2018 drop to about 55%, according to Bloomberg composite pricing.

A publicly traded Bitcoin fund, better known as the Bitcoin ETF (Exchange Traded Fund), continues to be considered by the cryptocurrency community as a "holy grail" for reversing the trend and returning a bull market. In December Bitcoin's price nearly hit the 20,000 dollar mark. Bitcoin (BTC) is now being traded under $6,600 and has lost 8% in the last 24 hours. Altcoins followed Bitcoin in this move downwards, with a majority of the top crypto assets posting losses that are upwards of 10%.

"The selloff witnessed on Bitcoin continues to highlight how extremely sensitive the cryptocurrency remains to the ETF developments", said Lukman Otunuga, an analyst at FXTM. Since Bitcoin has been created to be an endless resource with a total of 21 Million mineable coins, a higher market capitalization means that the value of a single Bitcoin is going to increase. These are certainly amongst the most important decisions regarding the further development of the cryptocurrency markets.

Partial Solar Eclipse Occurs Saturday! What to Expect
The moon's shadow travels above the earth's surface, and the sun's light (as seen from earth) is blocked out. The partial eclipse will hardly be visible from countries that fall below the Arctic Circle including India.


Kawhi Leonard pens letter thanking Spurs, Gregg Popovich
The 2018-2019 regular season for the National Basketball Association will tip off October 16, with the Spurs regular season schedule due out this Friday.


Turkey says Trump tariff move will harm ties, vows retaliation
President Erdogan has pressured the central bank to maintain low interest rates by refraining from implementing much-needed hikes. Still, the sell-off may not be over after the government struck a defiant tone on Friday even after Trump's move.


On Wednesday, the Securities and Exchange Commission chose to delay its decision regarding the proposed Bitcoin exchange-traded fund by VanEck and Solid X.

Should the SEC approve this ETF then it's expected that Bitcoin's value will take a sudden spike since a lot of people will be willing to invest their money in the fund.

10 Bitcoin ETFs are either to be accepted or rejected. NYSE will provide institutional investors with access to a regulated crypto custodian by offering than with physically settled Bitcoin futures products. Although there has been much talk of late over the interoperability of this innovative coin with its adoption over several shopping platforms in Cyprus, amongst other countries, the price continues to tank.

Optimism for ETFs have been gathering steam and has helped to fuel a bit of a recovery in Bitcoin over the past month so any sort of delays or stumbling blocks will have some form of negative impact on prices.

But of course, we still don't actually know when is this going to happen.



Other News

Trending Now

Everton fans reach on Twitter to brilliant deadline day
Everton coach Marco Silva finally convinced Gomes to join and he has had his medical for the Premier League side in Barcelona.

Taliban fighters storm Afghanistan’s Ghazni, seize parts of city
Mohammad Rahim Hassanyar, a senator from Ghazni, said the operation to expel all Taliban fighters was "very slow". Air strikes called in to quash the offensive also killed dozens of Taliban, he said.

US issues advisory, asks its citizens not to visit flood-hit Kerala
One shutter was opened on Friday after a gap of 26 years. "People living in the downstream areas of these dams must be cautious". Home Minister Rajnath Singh has assured the MPs from the state in the Lok Sabha that the Centre will provide all possible help.

Trump authorizes doubling of tariffs on Turkey's steel, aluminum
Erdogan replied that Turkey will not back down despite Trump's sanctions policy and said he would answer with mirror retaliation. On Friday, Trump announced he would double aluminum and steel tariffs on the North Atlantic Treaty Organisation ally.

Bitcoin is the Best House in a Tough Market: Fundstrat's Tom Lee
This is the last bearish wave, before bitcoin most likely enters into a long-term consolidation phase going into 2019. In this way, the $7,260 and $7,320 resistances are significant hindrances for more picks up in BTC in the close term.

The Year’s Brightest Meteor Shower To Dazzle BC Skies This Week
Unfortunately, you may have to stay up late or set your alarm for an early start if you want to spot the best of the display. It takes 20 minutes pretty much for your eyes to adjust to the dark and then you'll say oh there's more of them now.

Emery expects tough Premier League debut against City
Ahead of their first showdown on English soil, Emery has welcomed the challenge of getting one over on his compatriot. Arsenal have won just two of their last 12 encounters with Man City in all competitions.

Liverpool finish pre-season by beating Torino
Although new goalkeeper Alisson started the game in goal, he was replaced by Loris Karius in the closing stages. Liverpool boss Jurgen Klopp said Karius' warm reception would be a boost to the club's entire goalkeeping cadre.

Omarosa Claims Trump Repeatedly Used 'N-Word' During 'The Apprentice'
Using the N-word wasn't just the way he talks but, more disturbing, it was how he thought of me and African-Americans as a whole'. Omarosa Manigault Newman claims in her upcoming book that President Donald Trump is a "racist".

Ryanair pilot strike grounds 400 flights across Europe
Ryanair had filed for an urgent court order to prevent industrial action by pilots in the Netherlands. Unions also want the airline to give contractors the same work conditions as staff employees.