Commission United States securities and exchange Commission (SEC) must make a final opinion on VanEck (ETF) may 21.
The closer we all are more interested in what will happen to bitcoin after the decision is announced? Undoubtedly, the news of such scale should have a huge impact on the asset.
Josh Rager in his post on Twitter noted that the price of the coin will be rolled back regardless of the current market movement, if the SEC will refuse approval.
The upcoming VanEck ETF decision could certainly have a serious impact on $BTC price
Denial = Pull back the current price regardless of how good it looked this wknd
Approval =push the price to a new yearly high & create mass FOMO buying
Delay = Expected & likely little change
— Josh Rager ? (@Josh_Rager) may 20, 2019.
He notes that in the event of failure of the SEC, bitcoin will not fall below the support level, and if approved, we can expect a new annual high.
Most analysts tend to believe that the decision will be again postponed.
SEC postpones a decision on the proposals as Bitwise and VanEck ETF 2018. For suggestions Bitwise-NYSE Arca, the decision is postponed to October 13.
The cryptocurrency industry for years has been awaiting such an important event for market development, as the emergence of ETF.
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