SEC rejects Bitcoin ETF plea
On 11th March 2017, US Securities and Exchange Commission(SEC) gave it’s decision and rejected the plea for approval of Bitcoin Winklevoss Exchange Traded Fund(ETF).
Various speculators were betting on Bitcoins as their was 70% chances that US SEC would approve the Bitcoin ETF’s, which could lead to significant price rises and thus booking profits.
The rejection by SEC corrected the prices of Bitcoin to some level. But Bitcoin showed recovery and hence price rose again.
Bitcoin community believes , the rejection of Bitcoin ETF didn’t bother them and Bitcoin will countinue to rise because of it’s natural advantages like being digital,decentralized ,etc. (click here to view characterstics of bitcoin)
It is believed that Bitcoin will touch $3000 mark by the end of year 2017. Various analyst are confident that the level will be surely achieved by studying carefully the technical charts of Bitcoin Prices.
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