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Saturday, 18 August 11:36 (GMT -05:00)



Foreign exchange market

Panic Around Winklevoss Brothers Hasn't Dropped Bitcoin Below $8000


For those of you who don't know, the SEC has recently declined the Winklevoss Brothers' requestto create an exchange-traded fund (ETF). Shortly after the news, some cryptocurrency investors started panicking. At the same time, some experts started predicting another downtrend in the global marketof cryptocurrencies in general and Bitcoin in particular. 
 
However, Bitcoin didn't show any strong reaction to the news and continued to move on and forward to new local highs. Some of you may wonder why did the marketshow almost no reaction to the SEC's decision to prevent the creation of the world's first exchange traded fund for Bitcoin? This could be a breakthrough in cryptocurrency investing. 
 
The point is, the twins are self-made billionaires and great investors only for most of those traders and investors out there while the SEC treats them differently. The SEC respects, forexample, the CBOE with its immense trading volumes – 50% of America's option trading and some 90% of America's index trading. 
 
it's interesting to note that the SEC considered the twins and CBOE's requests. While the former was rejected right off the bat, the decision on the latter is delayed until August. This decision is going to influence the entire crypto market. 
 
In the meantime, NordFXreports that Bitcoin is trading around 8215 USD/BTC.


 

 

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