Cryptocurrency

Bitcoin continues to fall on US regulations concerns

2019-08-13 11:39:25 GMT (Economies.com)

Bitcoin fell in spot trading today, continuing its drop for the second day, heading to give up the $11,000 barrier, on weaker demand as regulatory concerns in the US were renewed, after the deletion of the launch of 3 Bitcoin ETFs in the market.

 

At Bitstamp, Bitcoin shed $108, or 0.9%, to $11,272, from the opening of $11,380, with a high of $11,447.

 

Yesterday, Bitcoin closed lower by 1.25%, its third loss in the last four days, on the bearish trend that dominates its trading in the short term.

 

The total market cap of cryptocurrencies fell on today by about $2 billion to a total of $294 billion, with most of the cryptocurrencies falling.

 

Bitcoin continues to get far from the $12,000 barrier, heading to give up the $11,000 barrier, on weaker demand, as it now needs more positive momentum to rebound.

 

In addition to the weak demand, the crypto market is facing pressure after regulatory concerns in the US were renewed due to the SEC delayed the launch of 3 Bitcoin ETFs in the market.

 

The US Securities and Exchange Commission (SEC) delayed its decision on the launch Bitcoin ETFs offered by VanEck, Bitwise and Phoenix.

 

VanEck ETF has been postponed to October 18th, Bitwise to October 13th, and Phoenix to September 29th.

 

The SEC said that  that they need enough time to consider changing the rules proposed by these funds, to approve or reject them.

 

The postponement decision is the newest in a series of delays by the the SEC, which delayed its decision on VanEck and Bitwise in March and in May.

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.
Request Desktop Site