Meanwhile, Bitcoin prices have fallen as news broke that the decision for the join venture of VanEck and SolidX to launch a bitcoin ETF will delayed by the SEC until the end of September. According to the SEC, “the Commission, pursuant to Section 19(b)(2) of the Act designates September 30, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.”
Nonetheless, some analysts are viewing the recent decline as a retrace back to a consolidation price of $6,000 or below, which the digital currency breached on June 24. After reaching a high of $20,000 last December, the price of Bitcoin has fallen unceremoniously. Last month’s rally past the $8,000 mark came as a result of a spate of news regarding interest from investment giant BlackRock, as well as the Bitcoin ETF from VanEck and SolidX.
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