In the cryptocurrency market have been a major exchange failure. On the morning of 25 September, the price of bitcoin collapsed below the psychological level of $9 000, decreased by 12.8%, to $8504 ($152,7 billion).
Failed and prices of three of the other top coins: litecoin – 16.3%, to $56 (with a cap of $3.6 billion); Ethereum – 15%, to $168,7 ($18.2 billion); Ripple (XRP) — 11.6%, to $0,2379 ($10.3 billion).
The main reason for the collapse of quotations, experts believe the news that the securities and exchange Commission (SEC) has postponed a decision on granting permission to launch exchange traded Fund (ETF) for bitcoin. The corresponding application was filed by the company Wilshire Phoenix.
Financial scout Forex Club Eugene Turchin said: “did Not help the stock market and the message that Boerse Stuttgart has opened an adjustable platform for spot trading of digital assets and plans to attract traders from all European Union.”
The reluctance of the SEC to issue a permit for ETF due to the fact that the regulator feared possible manipulation by the market.
However, long delay the decision on the exchange traded Fund American officials can’t – October is the deadline for the ETF on request of another company, Bitwise Asset Management.