Breaking - Down we go due to SEC..

in bitcoin •  last month

The (inf)famous U.S. Securities and Exchange Commission (SEC) announced the temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) .

If you remember those are ETNs in Sweden that were able ot trade despite ETF issues - i wrote about that before.

The file is here - https://www.sec.gov/litigation/suspensions/2018/34-84063.pdf

Down we go, markets already responded as it looks SEC gonna bring more and more trouble to other investors and ETFs if it even finds a way to stop ETN that legal and in EU.


Markets are already not too happy.

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Goldman Sachs announced that they started to trade Bitcoin, it went down due to it selling the ETF or directly sold short Bitcoin, then their friends at the SEC delivered a blow.
The fanatics and those locked in a loss and refusing to sell at a loss will wait.
Does it matter?
What is the recent volume of trade of Bitcoin/fiat?
With its high fees it is as dumb as buying lottery tickets.

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gonna cause more harm than good. they just treating crypto and fiat investment the same. the logic are same but how it works behind is totally different. Nothing good when they get involve.

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Good grief. I think I'm going to take a break from watching crypto for a few months and come back in the new year, when I suspect we'll finally be seeing an upward trend, whatever the volatility. I'm still confident for the long run (even medium run), and I'm fully invested already anyway. Stuff like this is just annoying as heck.

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Manipulation in my opinion. Everyone pushing their agenda as hard as possible to rock the boat, and it's working.

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I think so too.

Regulation is going to kill crypto

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It won't.

@kingscrown, For sure this situation is not pleasant to watch and this year was really tough for the Crypto Enthusiasts but we have to continue.

And in my opinion Centralised bodies will not going to easily allow Crypto Markets because their hidden interests will going to hurt.

And when we talk about the Steem Economy, we already watching that more and more people are losing the motivation but we have to understand that it's an phase and it will change.

In my opinion, no matter what we will going to see the great future of Cryptos and that is because the rate of Adoption is increasing.

Wishing you an great day and stay blessed. 🙂

The current volatility seems to be due to fear and market uncertainty. No investor invests to lose funds, except risk takers, gamblers and those who have no choice. Most people prefer to invest in stable markets, where they can be more confident of their outcome.

Government interference, scepticism and desire for control has not done the market any good at all... IMO

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Yeah there seems to be a multiple of negative factors resulting in poor sentiment. Only after time will people change their sentiment.

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Or after the factors resulting in the negative sentiments have been handled or reduced.

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Or after the factors resulting in the negative sentiments have been handled or reduced.

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I guess the only “confusion” exists only at the government side.
They’re to dumb to get it.

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True..LOL

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cant agree with you anymore.

Hello @kingscrown I will try to my best in cryptocurrency

the banking system is in a panic mode.being affected by the crypto world and loosing control.

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Cos they were too deficient. Hence, crypto actually came to help them out and save us a whole lot of trouble.

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The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market.
But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock.

Will it be the end?
I hope not, I just started with the crypto...