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Bitcoin (BTC) Value Left Hanging After ETF Software Pulled

Bitcoin Information, Value, Chart and Evaluation

Bitcoin value weak after ETF utility pulled.

CBOE blames US Authorities shutdown for withdrawal.

In case you are fascinated by buying and selling the cryptocurrency market, we have now produced a Day Buying and selling Information to Bitcoin and Different Cryptocurrenciesthat can assist you higher perceive this extremely risky asset class.

Bitcoin (BTC) Trades Heavy and Could Transfer Decrease After ETF Withdrawal

The Securities and Trade Fee (SEC) yesterday revealed that an utility from the Chicago Board Choices Trade (CBOE) for a Bitcoin ETF had been pulled. The motion was seen as a result of ongoing US authorities shutdown which can have issued an computerized denial of the appliance, together with fears that the SEC should not be snug with the thought of a cryptocurrency-based ETF. It now appears extremely unlikely that there might be a Bitcoin ETF granted in Q1 2019 on the very earliest, if in any respect.

Cryptocurrency Market Stagnant at Decrease Ranges – Bitcoin Dominance at 52.four%

Bitcoin (BTC) Price Left Hanging After ETF Application Pulled

Bitcoin continues to commerce both facet of $three,600 and the chart set-up is beginning to look destructive once more. BTC now trades again beneath all three transferring averages, leaving the two-month low at $three,420 weak, whereas decrease highs proceed to dominate the market. An in depth beneath right here opens the best way again to the December, multi-month, low round $three,127, carefully adopted by the September 2017 swing-low at $2,970. Beneath right here there may be little technical assist earlier than $1,780 comes into play.

Bitcoin (BTC) Every day Value Chart (June 2018 – January 24, 2019)

Bitcoin (BTC) Price Left Hanging After ETF Application Pulled

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Signal as much as the IG Consumer Sentiment Indicator without spending a dime information on retail dealer crypto-currency positioning.

What’s your opinion on Bitcoin? Share your ideas and concepts with us utilizing the feedback part on the finish of the article or you’ll be able to contact me on Twitter @nickcawley1 or by way of e-mail at nicholas.cawley@ig.com.

— Written by Nick Cawley, Analyst.


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