Bitcoin Today: SEC postpones again

2018年9月25日

Price
And we are back in the 6250 – 6600 zone. Not managing to hold on to the 6600 level BTCUSD breaks it and falls back to the Bearish Trend Line at the end of the Monday. There was a short reaction on the Trend Line, but selling pressure took over again and the fall continues at the time of writing. The next support on the way down is 6250 level. Obviously, this sell-off cancels scenario of the beginning of the turnaround and bullish formation and continues stagnating lateral period. For now, we are not looking for any bullish signs, we are waiting while the price will settle and stop the falling.

Today forecast
Trading in the 6250 - 6600 zone. Breakthrough below 6250 – bearish sign.

Latest news

• SEC postpones decision on VanEck-SolidX Bitcoin ETF until December 29th
  The U.S. Securities and Exchange Commission (SEC) has announced one more adjournment on the VanEck-SolidX Bitcoin ETF application. The new deadline for the decision will be on December 29th, 2018.
  In a post on its site on 20 June, the SEC originally stated that the Cboe BZX Exchange (BZX) had registered with the SEC, “a proposed rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust”. The commission then had 45 days from this date to reach a verdict but, presumably recognized the complexity of the issue and declared another extension leaving it until 30 September 2018.
  With this deadline approaching SEC decided today to once more prolong the process by declaring that a new deadline would be set for the end of the year.
  The commission will make another decision by 29 December 2018 on how to proceed. It could then postpone the deadline for the last time on an additional 60 days, putting off the issue until 27 February 2019.
  
• The last hearing on RBI virtual ban on cryptocurrency exchanges will be held today
  For almost a year a rivalry between RBI and cryptocurrency exchanges in India has continued. India is potentially one of the biggest new markets for cryptocurrencies, so a legal ban on cryptocurrency exchanges in India could have a dramatic impact on BTC price.
  In April this year, the RBI had asked regulated entities to not get involved with cryptocurrency traders, firms, or individuals, imposing a virtual ban. The RBI decision was challenged by cryptocurrency exchanges in the Supreme Court.
  On September 12, RBI once again reiterated that cryptocurrencies cannot be considered valid currency or money under the existing legal system. The hearing was postponed as many of the respondents, except for the RBI, were not able to file their responses.
  The Supreme Court will hear final arguments on petitions challenging the virtual ban imposed by the Reserve Bank of India (RBI) on cryptocurrency exchanges today.