Why yesterday fell Bitcoin? An explanation of the Russian expert
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More recently, have fallen below the key resistance level of 6800 dollars. Most Russian analysts tend to believe that the fall of cryptocurrency is associated with the long-awaited launch of the first ETF on Bitcoin. About it writes .
theWhy falling Bitcoin
CEO of cryptocurrency trading platform Tokenbox Paul Salas does not exclude that the discharge of the coin can continue until the end of this week. Local correction expert associates with the term of the application creating your first cryptocurrency ETF.
We Recall the statement about the approval for a Bitcoin ETF was filed with the SEC in June. By 10 August, the Commission was supposed to issue its final verdict on the matter. However, the members of the Commission took the securities Act and postponed the deadline for the announcement of the decision.
Now Bitcoin is trading at 6500 dollars, the coin fell nearly 8 percent in recent days. This month the price of bitcoin has already dropped by $ 1,500.
The decline is due to the fact that the SEC postponed the meeting about the changes to the rules of trading on the Chicago Board options exchange CBOE where to trade Bitcoin ETF, from August 10 to September 30. This fundamental news automatically affected the price of Bitcoin.
According to Salas, cryptologist had high hopes on ETF.
At the moment, due to the negative news background, we see a drop. With high probability it can continue for several days, and at the end of the week we will see consolidation where the big players again begin to repurchase.
Foreign colleagues Analytics continue to maintain the attitude regarding the decision of SEC. Let's hope their prediction comes true.
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