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

  • Yuri Molchan
    📰 News

    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’
Contents

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.

👉MUST READ

Kraken Makes Limited Time Offer to Buy Its Shares – for Accredited Investors Only

Kraken Makes Limited Time Offer to Buy Its Shares – for Accredited Investors Only

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
Source: CoinMarketCap.com

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.

Cover image via 123rf.com
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings