SEC Friendly Bitcoin ETF Delay Triggers Market Bounce.
Hi traders, let's talk Bitcoin.
Bitcoin.
It's a great day in the cryptoverse, we called the bottom on Bitcoin three days ago and so far the price has shown resilience and a slight bullish mark up.
Good news came earlier today from the Security and Exchange Commission which issued an order to extend the reflection period on a proposed rule change which, if approved, would give CBOE the green-light to launch a Bitcoin ETF.
On August 7, 2018, pursuant to Section 19(b)(2) of the Act,4 the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5 As of September 19, 2018, the Commission has received more than 1,400 comment letters on the proposed rule change.6. This order institutes proceedings under Section 19(b)(2)(B) of the Act7 to determine whether to approve or disapprove the proposed rule change.
If you like the idea of a Bitcoin ETF, I suggest you go ahead and show your support by leaving a comment on SEC's website.
Just remember to be cordial, this is not Reddit.
SEC next deadline for a ruling is December, 30th 2018 and their final decision must be made before February, 27th 2019.
Do you see SEC give the crypto community a nice ETF gift for Christmas?
Until then...
FØx.
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by FØx
Good news and nice call on the “bottom” ! Take care my dear
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Thanks @vlemon!
Nice post. We’re getting that slow, steady uptick in overall volume. Some coins, like XRP, have seen volume jump 10x. These are good signs. If price can break the prior $7,500 high...I’m going to become extremely bullish.
Yep, gotta bring that bullish momentum to the market, as you said I believe we'll see a slow mark up until the next SEC decision.
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