RATE Group | Short Squeeze Or Banking Crisis?
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Short Squeeze Or Banking Crisis?

30 Aug Short Squeeze Or Banking Crisis?

Posted at 05:07h in Bitcoin News by

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None of the bitcoin ETF proposals have been accepted by the U.S. Securities and Exchange Commission and the head honcho price felt the burn but for how much longer?

Investors and retail traders had speculated this long ago. An ETF approval would drive the price higher whereas an ETF rejection would just as powerfully bring the price down. When the ETF application got rejected on August 23, the bitcoin price hit bottom at $6337.70. However, within only a few days, the market climbed back up to the $6,944 region.

This shows that the bulls are still in control of the bitcoin segment of the market and the real question now is: What can move the price higher? This obviously depends on various different aspects.

Firstly, an ETF approval would surely strengthen the case for bulls but I don’t think that is likely to happen this year. In my opinion, the likelihood of seeing a bitcoin ETF could be placed at the beginning of the first quarter of 2019.

The second most important…

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