Published 08 Aug by CryptoDiffer Team
Highlights on Suppoman
"BREAKING: BITCOIN & CRYPTO MARKET FLASH CRASH & WHY?!"
The price of Bitcoin has plummeted from ~ $ 7,150, literally for an hour and is now at a very important level. The market capitalization has lost only 8 billion dollars and now it is 248 billion. I recently released a video in which I spoke about a good opportunity to buy altcoins because BTC showed a green candle on the rebound from the support level of $ 6 800. The reason for this is the news about Transfer of the decision on the application for ETF from VanEck for September. According to the SEC, the decision on acceptance or rejection will be made on September 30, so we see that there will be no further transfers. I like conspiracy theories and it seems to me that such events could have been planned by whales. I repeat that the transfer of the solution is not negative news, but the spread of news about this will instill in many fears. Break of the current level of support at ~ $ 6 800 will lead to a further decline to the next level around ~ $ 5,700, which is not a very desirable scenario. Many say that the price should be reduced to $ 4,000 before we see the trend reversal, but the source I trust told me about George Soros's deal for more than 100,000 BTC at $ 6,000, and I doubt he did it's not figuring out the market.
Altcoins are also continuing to rollback and are now in a good shopping area in relation to Fiat. If we look at the price levels of September last year, when the market was dominated by negative news about China, we can see that some of them are comparable to current ones. However, now the potential for growth of altcoins is huge because of the possible opening of a new market for several trillion. you need to have time to open good positions before ETFs are accepted. For example, ADA will definitely cost more than $ 1 after, since it is likely to be included in other ETFs. It should be remembered that it is necessary to buy on the bear market, and to sell on the bullish, so the sales now from the investor point of view do not make any sense. Even if you do not like any coins, you need to get rid of them for growth, and not on the fall.
I knew that this would happen because the SEC often postpones the decision. However, when observing previous shifts, I realized that sometimes this can have a positive effect. The CBOE has a good chance of acceptance, because of the insurance they provide to institutional investors. Thus, investors can invest in Bitcoin without having to buy on Coinbase and store it in purses. Clients CBOE, like many other financial institutions, want to invest in BTC, as this is a class of assets of a new generation, so the demand is very high. The application was not rejected immediately, as it was with the Winklewosses, which inspires confidence.
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