Speaking with CNBC on Wednesday, the Pantera Capital CEO said that he has a simple message for bitcoininvestors selling into a market that has already experienced a 67 percent decline from its all-time high: stop overreacting.
The ramifications of the SEC delaying a decision that would help cryptocurrency are felt for a second day, as prices tumble...
On Thursday morning, the cryptocurrency market saw a nice influx of buying volume, with Bitcoin quickly recovering by 3% and altcoins following closely behind.
While the bitcoin ETF proposal has been in the works for about three years now, it was only revealed around June.
Furthermore, citing the SEC's "concerns regarding bitcoin ETFs and retail investors", the presentation notes that "the initial share price will be set at a level created to ensure that only institutional and "non-retail" investors will be able to purchase shares", which is a price per share of $203,750 as of July 30. Around the time the SEC announced on their delayed approval, all seemed well and the market was looking like it was going to hold up and ignore the news.
Manchester United open talks with Chelsea for defender
And Kurt Zouma could still join him on Merseyside, even though the transfer window slammed shut at 5:00pm on Thursday. Manchester United need a defensive upgrade on the likes of Chris Smalling and Phil Jones and Zouma is certainly that.
Bitcoin began to plummet fast and hard, for the next couple of hours, bitcoin had broken the $6,900 support level and followed to bottom at $6,487.
At the time of press, Ethereum was around $368, EOS was at $6.03, Ripple was at 0.3500, all representing a massive loss since their recently found 2-month high. At press time, the total cryptocurrency market is sitting at just above $225 billion, which is $75 billion lower than what it was just two weeks ago. There's no reason for us not to allow this product to go ahead and trade on the exchange therefore i would have let it go forward whereas my colleagues believed that it should not go forward.
In July, Van Eck submitted a 13-page report to the Commission addressing various concerns the SEC has related to the ETF such as valuation, liquidity, custody, arbitrage, and potential manipulation. "The former is better for pumping price, but the latter is much better for actual adoption".
The approval of a Bitcoin ETF is now seen as a holy grail to bring the bull back into the crypto market and flood the market with fresh capital. What's particularly unique about this situation is that the VanEck ETF would have been backed not by futures, but by actual bitcoins. The organization has repeatedly postponed all decisions regarding such ETFs or outright rejected them. There's been a couple of big things coming out in the last week and the ETF rejection is the same story we've had for five years.
It will last until August 24, but if you want the best view wait to go stargazing until closer to the night of Sunday, August 12. The Perseids appear to radiate from the constellation Perseus, visible in the northern sky soon after sunset this time of year.
Fuqua responded that the transition "will happen eventually", going on to suggest Elba as the frontrunner for the part. MGM will distribute the film domestically while Universal Pictures will handle worldwide distribution.
More importantly, the price failed to test the 50% Fib retracement level of the last decline from the $7,167 high to $6,139 low. On the downside, a break below $0.3198 may well clear the path for more losses towards the $0.3000 and $0.2800 support levels.
It has already threatened to move part of its Dublin fleet to Poland, which could cost 300 jobs, including 100 pilot positions. Ryanair passengers claimed they faced chaos during a 24-hour strike which left British travellers stranded across Europe.
However, it has been noted that the forwarded message can be copied and shared again to multiple chats. The company sources disclosed that the latest update is now available to 200 million users in India.
Portuguese midfielder Gomes, 25, will join on a season-long loan at a cost of 2.25 million euros for the English club. And it looks likely that Everton will add one more with Chelsea defender Kurt Zouma now in negotiations over a move.
Right on time, as the news broke, Manigault Newman touted her upcoming book tour on Instagram, ready to capture some sales. She writes that over time, she came to the realization that Trump was a racist, something the rest of us already knew .
However, in this metric, the Galaxy S9+ and LG's G7 ThinQ top out the Note 9, managing to score 630 and 900 nits in light output. An upcoming public SDK will allow developers to program custom functions into their apps specifically for use with the S Pen.
General manager John Dorsey told reporters Thursday the team plans to work out a gaggle of free-agent wideouts next week. ". The back and forth between the Cleveland Browns and wide receiver Dez Bryant got a little weird on Thursday.
Drake & Migos Tour Start Date Pushed Back Again
The Drake performance that was scheduled to happen tonight at the Sprint Center has been rescheduled to happen on Sunday. The delay also comes at the heels of reports that Drake's tour bus was towed away yesterday morning in Kansas City.
Djokovic stunned by Greek teen Tsitsipas in Toronto third round
Greece's Stefanos Tsitsipas set up a match against Djokovic, knocking off seventh-seeded Dominic Thiem of Austria, 6-3, 7-6 (6). He'll next face second-seeded defending champion Alexander Zverev of Germany, a 6-3, 6-2 victor over Russia's Daniil Medvedev.
Magic will play Bulls, Jazz in Mexico City
This is the third consecutive season that the league will play two regular-season games in Mexico City. Season ticket holders will be reimbursed the price of those two games.
Magic Leap’s mixed reality headset is finally on sale
However, the device, which costs a whopping $2,295, is only available in "limited quantities", Magic Leap said in a statement. Today, it has finally released its first product: The Magic Leap One, Creator Edition , the first "mixed-reality" headset.
'Firenado' towers over factory blaze in Derbyshire
The cause of the fire at Ravensbourn Plastics Ltd on Occupation Lane, in Albert Village, Swadlincote is not yet known. Firefighters were joined by colleagues from other counties as they tried to prevent the fire spreading.