The decision is out. Bitcoin ETF has been denied.
After bitcoin jumped to an all time high of above $1,300 , it has started crumbling down the hill. As I am writing this story, bitcoin is trading at around $1k.
It will be interesting to see how other currencies react to this decision. The next 24 hours will see a lot of trading. DASH is likely to go down as well as it was trading heavily with BTC. Investors like me who were waiting on the decision to come out will now start buying...
What are your thoughts? How far do you think bitcoin is going to drop? Will it also affect dash and other altcoins?
Here are some links about the news:
https://cointelegraph.com/news/breaking-etf-denied-bitcoin-price-drops-from-1350-to-980-within-hours
https://www.forbes.com/sites/laurashin/2017/03/10/sec-rejects-winklevoss-bitcoin-etf-sending-price-tumbling/#10b9ad46643c
https://www.reddit.com/r/BitcoinMarkets/comments/5yoqjq/bitcoin_etf_officially_disapproved/
https://www.reddit.com/r/Bitcoin/comments/5yopvy/bitcoin_etf_disapproved/
https://bitcointalk.org/index.php?topic=1821060.0
https://www.sec.gov/rules/sro/batsbzx.htm
http://www.reuters.com/article/us-bitcoin-etf-idUSKBN16H2NU?il=0
http://www.teletrader.com/sec-denies-winklewoss-request-for-bitcoin-etf/news/details/38051939?ts=1489182338131
http://etfdailynews.com/2017/03/10/sec-rejects-winklevoss-bitcoin-etf-btc-crashes-immediately-below-1000/
http://www.cnbc.com/2017/03/10/us-sec-rejects-application-to-list-bitcoin-etf.html
http://www.marketwatch.com/story/sec-rejects-proposed-winklevossbitcoin-etf-citing-lack-of-regulation-2017-03-10
https://themerkle.com/bitcoin-etf-officially-rejected-by-the-sec/
https://www.xrpchat.com/topic/3208-bitcoin-etf-denied-discussion/
http://www.channelnewsasia.com/news/technology/us-sec-rejects-application-to-list-bitcoin-etf/3586906.html