The Bitcoin price as of now is dancing because of the ETF news. US SEC will announce its Bitcoin ETF decision on 10 August 2018. It is being said that, it might happen that SEC approves CBOE ETF on 10 August and if it happens, we can see a parabolic bull run in Bitcoin price. Until then, it may hover between $7600 to $9000. What do you think? Where is Bitcoin heading and what about the Altcoins and the rest of the Cryptos?
Well the simply explanation is that investors are just cashing out during the weekends. And now its back above $7100. Regarding, ETF,
everyone is really hoping for a approval, so we have to wait till Aug 10 or Aug 16 for the final decision. For altcoins, nothing to worry, I'm sure that the top 10 coins holders are also waiting for that decision. If it gets approved then they will dump and join the bandwagon. If it was denied, then perhaps some altcoins will be pumped.
they may be hoping for it but i think majority of the investors don't have any faith in SEC approving ETF this time either which is pretty obvious from the market and bitcoin price. if they had a small hope for its approval then price should have shoot up to the moon by now. i think they are waiting for the rejection and the drop so that they can start buying fast and big during that time.