Most recently, the SEC rejected the application for a Bitcoin ETF by Winklevoss Capital Management founders Cameron and Tyler Winklevoss. In what could have been the first cryptocurrency ETF offered to investors, the SEC shot down the notion that cryptocurrency markets are “uniquely resistant to manipulation.”
Related: SEC Rejects Winklevoss Bitcoin ETF
Meanwhile, other analysts view the drop below the $8,000 mark as a perfect buying opportunity to capitalize on the selling pressure.
“While it might seem crazy to the legacy markets and the Bitcoin world, this is just a normal correction” said Brian Kelly of Brian Kelly Capital.
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