Brian Kelly: it is foolish to sell Bitcoin from the next decision of the SEC on ETF

The Commission on securities and exchange Commission (SEC) once again deferred the decision to approve the ETF from VanEck, and Solidx. In response, analysts of Canada’s largest investment company Cannacord saidthat the regulator is with high probability “will pull up the last” and will make a decision regarding open-end investment funds in February 2019.

The slowness of the SEC dropped the Bitcoin coin fell below 6.3 thousand dollars. However, analyst Brian Kelly calls on investors not to commit the error associated with the sale of the first cryptocurrencies because of the decision of the regulator. According to him, Bitcoin will recover from the shock fairly quickly, writes CCN.

Over the past two days, the first cryptocurrency has lost 12 percent of its value. Most analysts believe that the reason was the postponement of the decision of the SEC by the ETF.

However, other members of the community believe that open-end investment funds here at anything — a postponement of the decision was the most likely scenario. The reason, according to the latter, has become a major OTC transaction. In other words, some of the big players sold a large amount of bitcoins.

This is the opinion of Brian Kelly — in his words, sell coins for a neutral solution SEC — quite a stupid idea.

Bitcoin has soared from 5.8 thousands of dollars only because investors believe the imminent launch of ETF. It is normal that the hopes market participants has weakened somewhat, and with them — and the first cryptocurrency. Small spoiler — 30 Sep SEC will again delay a decision on the funds. The fact that the market is not yet ready, and the conditions announced by the regulator are not met.

Informed analyst said that the SEC will approve the ETF only once in the US will be adjustable cryptocurrency exchange, and CryptoStream will begin to provide quality services and products for institutional investors.

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