The rise in bitcoin prices was in part related to the expectations of SEC decisions on ETF fund validation. These were postponed to the end of September, the course quickly lost 8%.
After a upturn in recent weeks, the price of bitcoin fell sharply this Wednesday. The cause comes from the disappointed expectations of the US Securities and Exchange Commission (SEC) on the creation of ETFs (Exchange-Traded Fund) associated with the value of bitcoin.
BitcoinThese ETFs would allow institutional investors to speculate on bitcoin without necessarily having to buy it and are seen as a potential relay to drive up the value of cryptocurrency.
However, the SEC has twice rejected the creation of an ETF based on the value of bitcoin. The investment fund VanEck made a third request by polishing the conditions of its creation to make it more acceptable.
Investors were waiting for a decision from the stock policeman on this third proposal and the price of bitcoin has seen a small recovery in recent weeks in these perspectives.
However, by announcing postpone its decision at the end of September, the SEC has thrown a new cold snap on the price of bitcoin which saw its value immediately tumble 8%, to position around $ 6,500.
It's a bit above the low of around $ 6,000 a few months ago, and the hope of a rise to the end-2017 record level continues to be desired.