Bitcoin fell sharply on Wednesday because the SEC postponed its decision on whether it would approve a bitcoin exchange-traded fund (ETF) proposed by VanEck and SolidX. This is VanEck's third attempt to push a Bitcoin ETF through.
However, some investors claim the price fall is just a minor correction. Brian Kelly, the CEO of the digital currency investment firm BKCM, opines that the market appears to have reversed its sentiment toward Bitcoin. The reasons from his perspective include SEC’s statement that Bitcoin is not a security and interest in Bitcoin ETFs, which in his mind will eventually be approved.
In the corporate world, the sentiment towards Bitcoin has swung again from positive to negative. BlackRock, on the one hand, is tuning its eyes towards Bitcoin, so an institutional-quality custody solution seems to be just a matter of time. Jamie Dimon, JPMC CEO, only the other hand, is bashing the crypto again, calling Bitcoin a 'scam'.
finstead.com/bite/bitcoin-price-analysis-prediction-august-4-2018
However, some investors claim the price fall is just a minor correction. Brian Kelly, the CEO of the digital currency investment firm BKCM, opines that the market appears to have reversed its sentiment toward Bitcoin. The reasons from his perspective include SEC’s statement that Bitcoin is not a security and interest in Bitcoin ETFs, which in his mind will eventually be approved.
In the corporate world, the sentiment towards Bitcoin has swung again from positive to negative. BlackRock, on the one hand, is tuning its eyes towards Bitcoin, so an institutional-quality custody solution seems to be just a matter of time. Jamie Dimon, JPMC CEO, only the other hand, is bashing the crypto again, calling Bitcoin a 'scam'.
finstead.com/bite/bitcoin-price-analysis-prediction-august-4-2018
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.