Bitcoin has been making higher lows since hitting $5754 (Bitfinex USD/BTC) on June 24th and first to $5877 on August 14th (Bitfinex USD/BTC) then on September 8th at $6118 (Bitfinex USD/BTC).
After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.
How likely is SEC to green-light an ETF, let me know your opinions.
After failing to gather enough selling momentum to decisively break below $6000 it's looking like the market is in waiting mode for SEC to decide on the fate of a Bitcoin ETF.
How likely is SEC to green-light an ETF, let me know your opinions.
Seems like prices actually benefited from the SEC's postponement on the CBOE ETF. I don't really understand why, but it sure seems like markets are reacting to that news quite positively actually, even though it means they're waiting for another few months for the decision.
Prices are probably not going to be going into bullish territory. With this period of stability after the correction came a few weeks ago, I think that there is a possibility that we may see pumps to $7-8k.
However, just like markets have acted before, it's likely that prices won't come close to breaking the psychological barrier of $10k while we're still in the bear market. We'd still have to wait until at least the second half of 2019 in my opinion, based on historical bear market timeframes to see any real developments in the upward direction that would come to anything close to last year's bull market, imho.