On Wednesday, August 8, the bitcoin (Bitcoin) rate fell to $6,500. At 11:00 (GMT+1), the first cryptocurrency is traded on the BitForex exchange at $6,501.02, on Binance at $6,497,54. Capitalization of bitcoin is $112 billion.
Bitcoin exchange rate is influenced by the news that the U.S. Securities and Exchange Commission (SEC) postponed the decision on VanEck and SolidX bitcoin-ETF for more than a month, until September 30. Initially, it was assumed that the Commission meeting will be held on August 10.
After the report was published, market rate of bitcoin fell below $6,500, then recovered slightly. Over the past few hours, the total capitalization of the market has fallen by almost $26 billion to an annual low of $229 billion. At the moment, market capitalization is $231 billion. Many digital money lost more than 10% of their price. Ethereum costs $371, Ripple is trading at around $0,35.
WHY IS IT IMPORTANT?
1. VanEck and SolidX sent an application for the launch of bitcoin-ETF in June. Companies claim that the market is ready to adopt a new instrument, but the SEC doubts this. In late July, the regulator refused to launch such contracts to the Winklevoss brothers.
2. Some experts believe that crypto community should not count on launching the ETF this fall. The regulator will approve the financial instrument not earlier than 2019. This means that the price of bitcoin will not reach new highs in 2018.