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Bitcoin Price Hangs near $8,000 After SEC Delays ETF Decision, Bitmex CEO Says ‘the Bull Market Is Real’

Tue, 05/21/2019 - 12:42
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Yuri Molchan
Despite the fact that the SEC has temporarily delayed its decision ?on Bitcoin ETF, Bitcoin quotes remain near the recently achieved high of $8,000??
Bitcoin Price Hangs near $8,000 After SEC Delays ETF Decision, Bitmex CEO Says ‘the Bull Market Is Real’
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On Monday, Bitcoin’s price demonstrated a 13-percent growth, despite the reports of the SEC delaying its decision on the ETF offered by VanEck Associates Corp. and SolidX Partners Inc., and submitted by the CBOE exchange.

The SEC requires more data

On Monday, the SEC officially demanded more data from CBOE on how it intends to list the exchange-traded fund (ETF) made by VanEck Associates and SolidX Partners. Bloomberg has shared the details in its recent article.

Delaying the official status of the ETF from the SEC does not “indicate that the Commission has reached any conclusions with respect to any of the issues involved,” says the regulatory body.

The regulator has taken 35 days for more comments.

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Current BTC market situation

On Sunday morning, BTC quotes went in a direction different to what analysts had expected and spiked 9 percent.

On Monday, BTC price managed to rise above the $8,000 mark but then a retracement took place. At press time, Bitcoin is trading at $7,855.

Bitcoin Price Hangs Near $8,000 After SEC Delays ETF Decision

Last week, Bitcoin’s price showed momentum, adding more than $1,000 since the same time last Monday. Within a week, BTC soared almost 15 percent and seems ready to break higher up.

Crypto analyst ‘The Crypto Dog’ confirms that on Twitter.

The CEO of BitMEX, Arthur Hayes, has pointed out that since the market has managed to recover back to $8,000 so quickly, it is a clear sign that we are witnessing a bull run.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at