Its a sudden But regrettable News that the SEC has ones again rejected a Proposal Regarding BTC, this time by ETF. somehow i saw this comming especially after an earlier rejection of a Winklevloss ETF which proposed physical trading of BTC. The rejection reasons are the same old ones., Market Manipulation being one of the major. To me this is an expression of how badly the SEC wishes they could control BTC and as long as they dont have the control button, no proposal will ever go through. with the current red market situation, im certain that somehow, the decision is going to have negative effects on the BTC value. Which brings the concern of WHATS GONNA HAPPEN TO THE CRYPTO KING
bitcoin and cryptocurrency will continue the journey even without those ETF. Indeed bitcoin had already survive and reached as high as $20k without any regulations which is already a milestone in crypto. Maybe SEC had delaying that for other reason to make the price suffer then they will buy at lower price then later on they will approve that will reverse the situation of the market. If you believe in this technology then no need for any regulations or ETF.