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SEC Delays Bitcoin (BTC) ETF Decision - Global Coin Report
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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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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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