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Crypto news: Bitcoin exchange rate crashes due to launch a bitcoin ETF

The exchange rate of bitcoin to USD according to the schedule on August 13, 2019, began to decline slightly in the morning, and the price of Ethereum in USD is slowly growing. By mid-day the price of BTC is $11 250, and ETH – 210 USD.

The reason for the depreciation

Bitcoin to us dollar online charts began to fall against the dollar amid news about the launch of a bitcoin ETF. That’s the conclusion came analysts of the Agency FxPro specializing in investments.

Курс биткоина падает из-за запуска биткоин-ETFSource tradingview.com

Experts say that Bitcoin goes from hand to hand around the mark of $11 300, and loses 0.5% per day. The cost of the home cryptocurrency locked in sideways with a bias down – drop.

Traders were divided between those who believe in preserving the price corridor of the BTC in the range from 9 to 11.5 thousand USD – up to halving network in the spring of 2020. The other half of “cryptanalytical” inclined to think that the current situation is the epicenter of the crisis of the economic system. Bitcoin has good chances for further growth in the graphs on the background of trade and currency wars.

Optimistic

Earn bitcoin will be, waiting for the right moment. Optimists believe that the news of challenge must raise the coin rate to a record 50-55 thousand dollars. In fact, there is information about the next move of decision-making across multiple applications to launch a bitcoin ETF. They came from VanEck/SolidX, Bitwise Asset Management and Wilshire Phoenix.

The American government is afraid of the serious manipulations after you have launched a new investment instruments. In General, they are worried not in vain, and in the case of approval, the bitcoin ETF at the end of fall we will see another Pump&Dump on the market, similar to the events of 2017. As a result, the bitcoin to dollar will grow strong!

The application is already published, so the law Commission at the securities and exchange Commission SEC has 240 days to the adoption of a final solution. Accordingly, the applications of Bitwise and VanEck/SolidX time out on 13 and 18 October, and on request Wilshire Phoenix need to give an answer before September 29.

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