Even though the cryptocurrency news was upbeat in recent days, the market stumbled after the United States Securities and Exchange Commission (SEC) rejected calls for a Bitcoin (BTC) exchange traded fund (ETF).
That news came as a blow to investors, many of whom believe the ETF would open the cryptocurrency industry up to pension funds and other institutional investors. This would create a massive tailwind for cryptos, they say.
So it only follows that a rejection of the Bitcoin ETF should send cryptos tumbling, correct? Well, maybe you can follow that logic, but to me it seems like a dramatic overreaction.
I understand that legitimizing cryptos is.
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Written by Gaurav S. Iyer, IFC @ https://www.profitconfidential.com/cryptocurrency/crypto-news-new-exchanges-boost-crypto-liquidity/ August 8, 2018 Gaurav S. Iyer, IFC