The Bitcoin exchange rate does not respond to the cancellation of another ETF. What is the reason?

The price of Bitcoin has remained virtually unchanged after the news about the cancellation of several ETF with the SEC. Earlier, any negative news about the ban of cryptocurrencies in China or hacking of kryptomere led to a rapid decline of the entire stock market. As reported by Bitcoinist, now global trend have changed.

Why Bitcoin is not growing

Recently, the Commission on securities and stock exchanges of the USA has rejected three applications for cryptocurrency ETF from different funds. Bitcoin price almost did not react to the event. But before the same cancel ETF the Winklevoss brothers sent the course of cryptocurrencies in a new fall.

Managing Director of Crypto Asset Management Tim Enneking believes that the stock market is already Mature enough to withstand another negative news. If a deviation of another application for ETF becomes obvious to all, this news will not play on the price of the asset.

After the abolition of the ETF of the Winklevoss brothers, no one expected that the Commission will approve other exchange cryptophony.

Earlier BKCM LLC analyst Brian Kelly statedthat the approval of the ETF for Bitcoin is unlikely to take place in 2018. But Blockfolio CEO Eric Ervin hopes for the success of the exchange triptofana from VanEck/SolidX.

However, other experts noted that ETF for Bitcoin is not a panacea for cryptocurrency. Like it or not — we learn only at the end of September. And still have time to visit our cozy cryptcat.

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