Darryn Pollock

What is Holding the SEC Back From Pulling the ETF Trigger?

Regulators have always been slow and cautious beasts, but what is the real reason behind the Bitcoin ETF hold up?
What is Holding the SEC Back From Pulling the ETF Trigger?

Even since before the SEC made its move to allow companies like CBOE and CME to offer Bitcoin futures, there has been increased interest and pressure for other forms of institutionalized products to be linked to Bitcoin. The biggest in the recent months has been a push by a number of firms for Bitcoin ETFs.

However, the SEC has been very cautious in its approach to approving this, it has denied a number of applications already, delayed some others, and is still scrutinizing many others that await its decision.

There is a good reason for the SEC being so cautious, as this is still a highly unregulated space, that is still very nascent and fresh, so the need for a regulator to take care is important, but is the SEC’s process overly cautious?

A big ETF drive

While there has been a big push for ETFs in the past few months, and many are hanging their hat on them for the sake of an explosion in the Bitcoin market, the SEC has seen a Bitcoin ETF application before and turned it down.

The Winklevoss Twins, famous for their belief in cryptocurrency and their exchange, Gemini, made an application in 2017 to the SEC for a Bitcoin ETF that was quickly turned down. They again tried in 2018, with the same result.

But their ETF application is not the only one that has been turned down, in act,  a bunch of at least nine were denied by the SEC in August while one of the more promising one, by VanEck, has been delayed.

Still, there are a few left that the SEC needs to make a decision on, and the feeling is, if they approve one, it will be monumental for Bitcoin and help the asset skyrocket again.

Why the skepticism?

So, while the cryptocurrency and investment world waits with bated breath, what is the SEC thinking when it comes up against these applications?

The denial of nine ETFs in August, was actually a long and drawn out process, involving a rule change too. It took several months just for the SEC to begin its typical process for evaluating rule changes. After a required comment period, the agency gave itself one more two-month extension, which led to the final decision in August.

In its order, the SEC tried to make it clear that the agency hadn't looked at the validity of bitcoin itself. In the words of the commission, the "disapproval does not rest on an evaluation of whether Bitcoin or Blockchain technology more generally, has utility or value as an innovation or investment."

So, the SEC is not that concerned about Bitcoin and blockchain in its purest sense, but rather concerned about the cryptocurrency market because of the threat of fraud and manipulation in this nascent space.

The SEC has even rejected the idea of using the newly formed Bitcoin futures market as a yardstick to measure the success that an institutionalized investment tool would have in this precedent-breaking market.

Waiting for a strong market

Much like many arguments when it comes to Bitcoin and the related Blockchain space, it is not the technology or the cryptocurrency that is the problem, it is the way that it is used, perceived, or manipulated.

Many have made the argument that Bitcoin is a problem because it is used to buy drugs- that is a poor argument as the problem does not lie with Bitcoin, but how people use it.

The same applied for the SEC, they have stated they are not criticising the asset, rather the emerging market around it- which has been subject to many hacks, scams, manipulation and other such teething problems.

Perhaps, once the market matures a bit, and the problems abate and fall away, the time will be right for the regulator's rubber stamp of approval.

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Coins Guide George Shnurenko

How to mine VeChain (VEN) for Free

🎓 Coins Guide
Equip yourself with clear data in the VeChain calculator and mining will give you 0 dollars/ or 0 rubles/ (electricity cost and fees are not taken into consideration).
How to mine VeChain (VEN) for Free

The equipment with a speed of 0 kH/s, the mining difficulty of 0 at the moment of mining and the reward for every found block of 0 coins give you 0 coins 0 per (neither the pool fee nor the probability of finding the block are included).

As it has been calculated, the sale of 0 turns out to be more profitable when 0 coins are exchanged at the exchange rate of 0 for one 0 on 0.

Having exchanged the amount of VeChain coins you want to remove from your wallet to deposit at BTC-e, choose the exchange rate of 0 and convert them to USD.

Withdraw USD in Fiat currency to receive 0 dollars or 0 rubles in cash.

So, equip yourself with clear data in the VeChain calculator and mining will give you 0 dollars/ or 0 rubles/ (electricity cost and fees are not taken into consideration).

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How to mine Vertcoin (VTC) for Free

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The simplicity of Vertcoin mining is pleasantly added by secure using of network and easy transactions processes.
How to mine Vertcoin (VTC) for Free

The simplicity of Vertcoin mining is pleasantly added by secure using of network and easy transactions processes. Everyone can mine these digital coins with GPUs. We won’t dive in details here – all you need along with PC with GPU is Vertcoin wallet (you should download it) and miner program. The NVidia 10 Series cards are currently the best GPUs for Vertcoin mining. But we still go on working at making AMD cards more profitable for using.

Here if the list of some resources providing Vertcoin mining:

  • sgminer (AMD): https://github.com/nicehash/sgminer/releases
  • Ccminer (Nvidia): https://github.com/tpruvot/ccminer/releases
  • VertMiner: (coming soon!)

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📈 Pricewise Vaido Veek

Bitcoin Fights Strong Resistance, Ethereum Tries to Break Out of the Triangle, Ripple Pulls Back: Crypto Price Analysis, Sept. 3, 2018

Pricewise
Last week was bullish for crypto market, but there is room to go higher
Bitcoin Fights Strong Resistance, Ethereum Tries to Break Out of the Triangle, Ripple Pulls Back: Crypto Price Analysis, Sept. 3, 2018

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin fights historically strong resistance

Over the weekend, the Bitcoin price showed us a very steady grind upwards and because of it, there was a steady growth on the altcoins list.

Currently, the BTC chart shows us that we are on the strong resistance area which is $7,286-$7,349. From here we expect a little pullback or the price stop just a while and if we break this area then our short-term target would be around $7,500.

$7,500 target criteria:

* Fibonacci pulled from July 24-Aug.14

* Round number

* Trendline since May 5

* Fibonacci extensions (entry point Fibonacci's)

* Round number and Fibonacci retracement level are just SO identical.

image

Let's talk a little bit about the current pullback. At the moment the price is above the minor trendline which is pulled from the wicks. It makes for us an upward channel, the price may go inside this channel and the first bigger retest area is around $7,000.

There we can find a May low which works as a support, round number and in the four-hour chart, we could see that the 50 EMA starts to work as a support. If it drops lower, then our next support is around $6767 which is historically worked level and there is also our last trendline. This has to hold us, if not then we go definitely test the lower levels.

Ethereum still in symmetric triangle

The current situation on the ETH chart shows us that, after the bounce upwards from our mentioned level, we tried to break outside the triangle and tried to break the round number $300 but this attempt was unsuccessful. ETH price was very close to make a breakout but we didn't find much power to hold the price above the $300.

image

Luckily, we had something positive on the ETH chart- ETH price structure made a small higher high which indicate that we are still on the rising mode and now the pullback definitely have to hold us over the blue support line if we want to stay bullish (marked as Strong Area). We know that soon we will see some bigger action on the Ethereum chart because we are on the triangle tip where the price is 'pushed ' together and soon it will launch. At the moment definitely don't trade this and wait for a breakout from the triangle. Breakout from triangle means short-term Ethereum direction and breakout is confirmed when we have at least a four-hour candle outside that area.

Ripple (XRP) takes down the minor downtrend line

If we take a look Ripple chart, then we could see that over the weekend we managed to break above the minor down-trendline since July 4, 2018 and currently we make pullback to retest the trendline. It could mean that if the market starts to show us some potential to go higher then Ripple have a nice starting platform to do exactly the same.

image

Currently, on the four-hour chart, Ripple price has found a support from 50 and 100 EMA's. The perfect scenario would be a retest the trendline and our climb will continue (because the textbook says- buy/sell breakouts after the retest) but we can start to climb higher only then when BTC finds the support because if BTC drops and the market cap drops then we could see again 'bloody' days on the market.

If we start to go higher then basically our next resistance is a round number $0.4.

Hopefully, this helps you out a little bit to confirm your own analysis.

📈 Pricewise
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📈 Pricewise Andrew Strogoff

Bitcoin, Ethereum, Ripple, EOS, NEM Suffer Losses, Uptrend Delayed: Price analysis, August 1

Pricewise
Bitcoin and altcoins fall as bulls lose power
Bitcoin, Ethereum, Ripple, EOS, NEM Suffer Losses, Uptrend Delayed: Price analysis, August 1

Hello, dear readers. This is Andrew Strogoff again and I have some bad news for buyers! Bears have breached bulls’ lines and pushed the market lower. I am far from thinking that the downtrend will last for long but currently it has some room to develop.

As for the news, I have found nothing bad, that may affect the market negatively. This means that the decline may be the result of technical correction. However, I have some interesting releases for you to read.

The first news comes from the Block.one EOS team. They have released their Demux software allowing databases to receive direct updates from the main network. The main idea of this software is to make it easier to create decentralized applications.

Another great news comes from the US. Madonna, famous pop star starts a new fundraising campaign that involves Ripple. Her aim is to help Malawian orphans.

Bitcoin (BTC/USD) looking for support

The situation has changed significantly on Tuesday as BTC/USD declined. The currency pair has lost more than six percent in the past 24 hours. Now buyers are trying to give support to Bitcoin, but bears are too strong and it is not easy to do it.

image

Bitcoin has broken through several support areas on Tuesday including $7,949, $7,734 and $7,565. BTC/USD fluctuates below $7,565 currently. The currency pair stays below $8,000 which is not good for buyers as they were unable to develop their success or to hold positions.

Anyway, I think that bears still have some power to push the currency pair lower. I believe Bitcoin will fall towards $7,341 before starting its correction towards my target. By the way, I have re-established my target lower. Now it is at $7,734.

Ethereum (ETH/USD) bears push it lower

Ethereum has lost more than seven percent in the past 24 hours. The news is bad as bulls now face hard times. The good news is that this downtrend has no fundamental reason, meaning it won’t last long. I think that we will have an upside correction in the nearest future at least.

image

Ethereum has broken through several support areas including $453.24 and $431.42. It fluctuates close to the next support area at $417.28. ETH/USD is close to its monthly lows and I think that currency pair has almost no room for further developing of the downtrend.

My trading idea for today is the following– the currency pair is likely to start growing targeting the resistance area at $453.24.

Ripple (XRP/USD) suffered losses, correction on the way

Ripple suffered losses on Tuesday but they were non-significant. The currency pair has lost less than three percent. XRP/USD is close to the monthly lows meaning we are close to the correction.

image

Ripple is close to the support area at $0.4232. The currency pair has almost reached monthly lows and I think that bulls are likely to counterattack in the nearest future. I have changed my targets and laced them closer to the current price. I believe that the cryptos will reach higher targets but I’m a realist and we have to get closer targets first.

I hope the currency pair will reach $0.4744 in the nearest future. This is my closest target for the next couple of days. As for bearish pressure, I don’t think that sellers have power to push Ripple below monthly lows.

EOS (EOS/USD) ready for upside correction

EOS followed the other currency pairs and declined on Tuesday. The currency pair has lost more than five percent in the past 24 hours. However, it is close to the monthly lows meaning we have an upside correction on the way.

image

EOS has reached the support area at $7.10. The currency pair has broken through several support area on Tuesday and I think that this downtrend is almost over there. I have set my targets closer to the price.

I still believe that EOS is very promising as the whole crypto market is. However, my targets for the next couple of days lies at $8.29.

NEM (XEM/USD) declined, but looks promising

NEM has lost almost eight percent in the past 24 hours. The currency pair followed its rivals on Tuesday and declined significantly. However, I’m far from thinking that this downtrend will develop as there is no fundamental reason for this.

image

NEM reached the support area at $0.1561 on Tuesday and stopped there. I think it is time for an upside correction at least. The currency pair is close to its monthly lows and has almost no room for further decline. Moreover, I believe that this downside momentum is temporary.

My current target is at the resistance area at $0.1883. I think the currency pair is likely to reach it in the couple of days.

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Bitcoin, Ethereum, Ripple, EOS, NEM Close to Ground, No Serious Movements Fixed: Price Analysis, June 22

Pricewise
Bitcoin and altcoins remain flat, no significant fluctuations in the past 24 hours
Bitcoin, Ethereum, Ripple, EOS, NEM Close to Ground, No Serious Movements Fixed: Price Analysis, June 22

Bitcoin and altcoins still unable to make any serious movements as they stay within horizontal ranges in the midterm. The fact that they have stopped their downtrends gives hopes to buyers. However, there are still no significant changes and nobody is able to predict, when they start to grow and whether they will do it in the nearest future.

Another reason for this lasting flat is summer. Investors and traders want to make a pause in order to relax a bit. This helps the price to find balance in the moment of writing.

As for important news, there are no events to affect the price significantly. However, some news may be interesting for our readers and subscribers. Vitalik Buterin gains over one mln followers in Twitter. He outruns Charlie Lee from Litecoin meaning Buterin becomes one of the most influencing persons in crypto community.

Another interesting thing to mention is Bodhi prediction on FIFA `18. QTUM Blockchain bot has forecasted that Brazil is going to win Mundial.

Bitcoin (BTC/USD) Price analysis, June 22

BTC/USD Hourly General

The currency pair has lost less than two percent in the past 24 hours but when we deal with the situation in general, there is no tendency currently as Bitcoin stays within the large horizontal range. There is a very slight crack about the possibility to run higher. However, neither bulls nor bears are ready currently to break the balance.

BTC/USD Hourly Closer

Let’s have a closer look at BTC/USD on the hourly chart. The currency pair has tested $6,718 resistance area several times but failed to make a breakout. Bitcoin fluctuates below this level in the moment of writing. The possible ways for BTC/USD are the following:

  1. Red scenario (bearish). The currency pair will reach the support area at $6,510 and test it. Bears will be able to push the currency pair lower if successful.
  2. Orange scenario (neutral). Bitcoin will stay within the current range. The currency pair is limited by the resistance area at $6,718 and the support area at $6,510.
  3. Green scenario (bullish). BTC/USD will test the resistance area at $6,718 and if successful, buyers will drive the currency pair towards the next resistance at $6,943.

Ethereum (ETH/USD) Price analysis, June 22

ETH/USD Hourly General

Ethereum has lost more than four percent in the past 24 hours. The currency pair, in general, grows along the green ascending trend line on the Hourly chart. This upside tendency is still very weak and fable, but it gives hopes to bulls.

ETH/USD Hourly Closer

When we look closer at the hourly chart we can see that the price has tested $540.69 but failed to move higher and retreated finally towards the ascending trend line. Ethereum fluctuates below this level in the moment of writing. The possible ways for ETH/USD are the following:

  1. Red scenario (bearish). The currency pair will break through the trend line targeting the support area at $500.36. If successful, bears will be able to push ETH/USD lower aiming at $473.39.
  2. Orange scenario (neutral). The currency pair will stay without significant changes between the resistance at $540.69 and the support at $500.36.
  3. Green scenario (bullish). Ethereum will break through the resistance area at $540.69 targeting the next resistance at $566.90.

Ripple (XRP/USD) Price analysis, June 22

XRP/USD Hourly General

The currency pair has lost almost three percent in the past 24 hours. Ripple remains flat together with other allies from the top 20. XRP/USD seems to start growing in the nearest future, but bulls and bears are still unable to break the balance.

XRP/USD Hourly Closer

When we look closer at the hourly chart we can see that XRP price has tested the resistance area at $0.5444 but failed to make a breakout there and retreated later. Ripple stays below this level in the moment of writing. The possible ways for XRP/USD are the following:

  1. Red scenario (bearish). The currency pair will reach the support area at $0.5088 to test it. IF successful, bears will be able to push XRP/USD lower.
  2. Orange scenario (neutral). Ripple will stay within the current horizontal range, limited by the support area at $0.5088 and the resistance area at $0.5444.
  3. Green scenario (bullish). XRP/USD will try to break through the resistance area at $0.5444 and once breached, this level will give support to Ripple. The currency pair will move higher in this case targeting the next resistance at $0.5643.

EOS (EOS/USD) Price analysis, June 22

EOS/USD Hourly General

The currency pair has lost almost five percent in the past 24 hours. EOS is weak currently due to the problems with Mainnet. The currency pair has left the big triangle on the hourly chart and develops its downside momentum.

EOS/USD Hourly Closer

Let’s have a closer look at the hourly chart. The currency pair has tested the resistance area at $10.76 several times but retreated as bulls were unable to drive the currency pair higher. EOS/USD crossed the support area at $10.21 later and developed its downside progress. The possible ways for EOS/USD are the following:

  1. Red scenario (bearish). The currency pair will develop its downtrend below $9.60 resistance area targeting the next support at $9.03.
  2. Green scenario (bullish). EOS will run through the resistance area at $9.60 targeting the next resistance at $10.21.

NEM (XEM/USD) Price analysis, June 22

XEM/USD Hourly General

The currency pair has lost more than four percent in the past 24 hours. XEM/USD develops its downside momentum in the moment of writing. Bulls and bears seem to break the balance but it is unclear whether sellers will be able to develop their progress.

XEM/USD Hourly Closer

Let’s have a closer look at the hourly chart. XEM/USD tried to break through the resistance area at $0.2002. However, later the currency pair declined and crossed the support area at $0.1873. NEM fluctuates below this level currently. The possible ways for the currency pair are the following:

  1. Red scenario (bearish). NEM will cross the support area at $0.1682 targeting lower aims.
  2. Orange scenario (neutral). The currency pair will stay within the range limited by the resistance area at $0.1873 and the support at $0.1682.
  3. Green scenario (bullish). XEM/USD will jump over the resistance area at $0.1873 and move higher towards the next resistance at $0.2002.

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