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SEC Delays Bitcoin (BTC) ETF Decision

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Bitcoin ETF
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The new statement from the US SEC (Securities and Exchange Commission) claims that the decision whether or not to approve Bitcoin ETF will be delayed until September 21, 2018. The reviewing of the request will effectively put five other decisions on hold for now.

The SEC delays BTC ETF decision once more

Requests for Bitcoin ETF have flooded the US SEC in the last several months, and the Securities and Exchange Commission is under a lot of pressure to provide an answer. Instead of doing so, they released a new public document, claiming that the Commission finds it appropriate to postpone the decision, and review the requests once more. The new date of the decision appears to be September 21.

This is a move that a lot of people actually expected, and while many would love to see BTC ETF arrive sooner, rather than later, a lot of people still think that the SEC will not be comfortable with allowing it just yet. Some claims say that it is too early and that 2019 has much better odds of seeing the ETF approval.

Winklevoss twins ETF request denied

The recent speculation regarding the potential ETF approval has had large consequences, even if nothing actually happened. The speculation actually led to an increase in Bitcoin’s price, which hit $8,200 in only a few days. Soon after, however, the SEC decided to reject the ETF request submitted by the Winklevoss twins.

This has disappointed many, and Bitcoin suffered the most. Currently, its price is going down once again, and it is at $7,400. This is also the second time that Tyler and Cameron Winklevoss attempted to get the SEC to approve their Bitcoin ETF request and the second time that they were rejected.

Many have compared this situation to a decade and a half old controversy regarding the twins and Facebook. Back then, they accused Mark Zuckerberg of stealing their idea. On the other hand, many believe that the twins are extremely innovative when it comes to thinking up various concepts, but that they have a problem when it is time actually to execute them.

Because of this, one popular opinion claims that, even though their BTC ETF requests are continuously denied, someone else might submit a request that will actually get approved. There is still a decent chance for this to happen, and the crypto community is currently waiting for September 21st to see whether or not will we get the next Mark Zuckerberg.

ETF might bring BTC price to new heights

Another opinion regarding the current Bitcoin ETF issue came from Spencer Bogart, a partner at Blockchain Capital. Bogart has been a very vocal Bitcoin supporter recently, with a notable bullish tone that came as soon as Bitcoin went up a few weeks ago. He recently stated that there are many catalysts that might allow Bitcoin’s price to go further up and that BTC ETF is definitely one of the biggest ones.

Even though the Winklevoss request got denied, there are still others that the SEC might decide to approve. If that happens, the current drop in price will soon become the thing of the past, and BTC might skyrocket once more. Bogart also stated that the SEC’s time is running out and that they need to get on board if they want to stay relevant.

“The cat’s out of the bag,” he said, “[i]nnovation is going elsewhere if the SEC [U.S. Securities and Exchange Commission] doesn’t get on board soon.”

For now, the SEC decision has been postponed, which means that a few more weeks of waiting are to be endured. After that, pretty much anything can happen.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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