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Bitcoin trades back above $7 Kraken Btc To Ripple ,000 as investors now in ‘wait and see’ mode
Bitcoin has regained its footing Tuesday, trading back above $7,000 as traders look to halt the recent selloff.
After logging its eighth losing session in the last nine on Monday, bitcoin
last changed hands at $7,100.13, up 2.6% since Monday 5 p.m. Eastern Time on the Kraken crypto exchange.
After a tough start to August for digital currency owners, participants have shifted their focus to a potential decision on the VanEck and SolidX application for a bitcoin-related exchange-traded-fund.
which is 45 days since the Securities and Exchange Commission Kraken Btc To Ripple , which is 45 days since the Securities and Exchange Commission
on the proposal and when the time in which it would file a response runs out. However, the SEC has said it can push out this response period to 90 days “if it finds such longer period to be appropriate.”
Either way, the crypto community has it on their radar. “The ETF decision is going to be the next catalyst for the market,” said Charles Hayter, co-founder of CryptoCompare. “There’s a lot of uncertainty around the decision, but also a lot of hope.”
Hayter added that the selloff has found its feet around the $7,000 and traders are now in a “wait and see” mode.
Despite the anticipation, some pundits believe a decision in favor of an ETF won’t come until 2019. Brian Kelly, founder and CEO of BKCM LLC, an investment firm focused on digital assets, told MarketWatch in July that a decision in 2018 is unlikely.
Kraken Btc To Ripple
Bitcoin futures are trading higher Tuesday. The Cboe Global Markets Inc.’s August contract
is trading 2.7% higher at $7,105 and the CME Group Inc.’s August contract
Altcoins, which are smaller coins alternative to bitcoin, are mostly higher in Tuesday. Ether
is up 1.2% to $408.15, Bitcoin Cash
Kraken Btc To Ripple
is trading up 2.4%, at $705.50, Litecoin
is up 1.4% at $74.55 and Ripple’s XRP
is bucking the trend, trading down 2.8% at 41 cents. Kraken Btc To Ripple
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