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Bitcoin (BTC) Slide Accelerates after Delay of ETF Decision

Published 08/08/2018, 03:44 AM
Updated 08/08/2018, 05:00 AM
 Bitcoin (BTC) Slide Accelerates after Delay of ETF Decision

Bitcoin (BTC) did not immediately react to the news of a delayed exchange-traded fund (ETF) decision, but the price plunged a few hours later. The US Securities and Exchange Commission (SEC) said it was extending the decision deadline to September 30, leaving BTC traders with another waiting stretch. Just after the announcement, BTC stood above $7,100, but the price quickly crashed to lows of $6,620.50 around 19:00 UTC, losing roughly 6% in the past 24 hours.

This level of volatility is relatively high for BTC and reflects the importance placed on a positive ETF decision. While the chances were slim, the price of BTC still sustained its levels, going above $8,400 at one point.


This article appeared first on Cryptovest

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