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SEC Chairman says They're Close to Approving the Bitcoin ETF Proposals

Chairman of the United States Securities and Exchange Commission (SEC), Jay Clayton has said that the organisation is getting ever closer to finally approving a bitcoin ETF. However, Clayton went onto warn that further work needs to be done to avoid the manipulation of price and make sure the market is transparent. Speaking to CNBC’s Bob Pisani during an interview, Clayton was asked how close we actually were to seeing an approved bitcoin ETF.  His response? "Yes. But there's work left to be done." A bit ominous yes, but it’s good to know that the SEC isn’t just brushing it...

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Bitcoin (BTC) Bulls Not Prepared To Back Down Just Yet

Bitcoin (BTC) is trading within a falling wedge at a time when the bulls are not prepared to back down. The 15 min chart for BTC/USD shows that attempts to break lower have been followed by traders buying the dips. This is nothing surprising to see considering a lot of traders are still waiting with long positions to capitalize on the upcoming Bakkt launch on September 23, 2019. I for one would be very surprised if the price keeps on surging towards $11,000 as the Bakkt launch nears but sideways movement in anticipation of a breakout is within the realm...

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Byte Tree Study Believes a $1 Trillion Market Cap for BTC Is Very Possible

According to a recent study by Byte Tree, it is very much possible for the market cap of the leading cryptocurrency to reach $1 trillion by 2025 which was encouraged by the wealth creation of bitcoin as further institutions get involved with crypto. Bullish action When you take into consideration that this past week has seen the bitcoin price mostly in the green and seems to be reacting to positive news related to the increment of institutional involvement, it shouldn’t come as much of a surprise for this study being so confident in bitcoin hitting the $1 trillion market cap...

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Binance Spreads Its Wings Into America - Branch Opening Soon

Changpeng Zhao, the well-known CEO of the massively popular Binance platform has recently just revealed his plans to open a new branch of the firm in the United States. This is a huge feat for the firm and will also mark the first Binance exchange set up in the country. Whereas no exact date has been revealed for when the branch will launch, Binance has revealed that it will be over the next few weeks. It isn’t yet known about how many states will benefit from the new exchange however, binance says it's still in the works and that it...

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Bitcoin (BTC) Unmoved By Short Lived Pumps

Bitcoin (BTC) has started its decline after a fake move to the upside. When it happened, I pointed out that it was just short lived manipulation aimed at shaking out the bears before the major decline kicks in. This was not the first time it happened and it surely won’t be the last. Before every major turning point in the market, market makers try to scare off traders on both sides and keep them as confused as possible. As we can see on the BTC/USD chart, they ended up shaking out the bears as well as the bulls around that...

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