SEC Rejects 9 ETFs, Market Doesn’t Flinch
After rallying over Bitcoin ETF hopes in July, and then crashing over ETF fears in August, the market didn’t even flinch as the SEC rejected 9 Bitcoin ETFs at once on August 22nd.
News
Cryptocurrency news from around the world and beyond. We cover what happening with cryptocurrency today. We cover things like countries embracing or rejecting cryptos, price milestones for Bitcoin and Alts, new projects, upcoming forks, etc.
Ethereum-based Gods Unchained Card Sells For $60,000 Setting Records
Move over CryptoKitties and watch your back Magic the Gathering. A card from the upcoming Gods Unchained, which uses Ethereum’s network to record the ownership of cards, just sold for $60,000.
Bitcoin Rallies as Bitmex Goes Down Causing Pain for Bitmex Shorts
On August 21st Bitmex had a scheduled outage, meanwhile BTC shorts were near a 2018 high. That setup was apparently too tempting for someone(s), as the market pumped like crazy the second Bitmex went down. The result was Bitcoin went from $6.4k to $6.9k.
SEC Deadline on Proshares Bitcoin ETF is this Week
The SEC must approve or deny two Proshares Bitcoin ETFs this week. The deadline is Thursday the 23rd, they cannot extend the decision. This isn’t great timing considering the price of Bitcoin, recent ETF drama, and the SEC’s history of denials…. or is it?!
BTC Shorts Near 2018 High As Bitcoin Ranges around 2018 Lows
BTC Shorts (BTCUSDSHORTS) are nearing their 2018 high as Bitcoin ranges around its 2018 lows. Is BTCUSDSHORTS going to the moon? Let’s discuss that.
Bitcoin Contracts on Bakkt Will be Settled in Bitcoin
Bakkt’s daily Bitcoin contracts will not be traded on margin or use leverage. They will simply be contracts for Bitcoin, “backed” by Bitcoin and settled in Bitcoin (as opposed to cash), in an effort to promote price discovery for Bitcoin.
Swedish Bitcoin ETN Now Available Through US Markets
A Swedish Bitcoin Exchange Traded Note (ETN) called Bitcoin Tracker One (CXBTF) can now be invested in via some US markets. Check with your broker/exchange to see if the product is offered.
Alts See Sell off While Bitcoin Attempts to Hold $6 Again
Bitcoin has resisted dropping below $6k yet again, unfortunately most altcoins from Ethereum down are mostly in panic mode with Ether taking an usually big hit.
Bitcoin Dominance At Over 50% For the First Time in 2018
Bitcoin dominance reached a 2018 high of 50%. Dominance is up from a 33% year low. That means half the market cap of all cryptocurrency is now in Bitcoin alone. Unfortunately for holders this can be attributed to a decline in the alt market rather than a growth in Bitcoin.
Tons of Bullish News at New Bear Prices
There is a ton of Bullish news, from ICE’s Bakkt, to Coinbase updates, to news about Coinbase, Stellar, and Facebook, to Volkswagen’s Blockchain project, to IBM’s blockchain projects, etc. Yet prices of most cryptos are the worst in 2018 so far.