BTC to Fall Under $6k, Tom Lee Thinks

Bitcoin’s painful start of the year isn’t over, according to co-founder of Fundstrat Global Advisors
16 March 2018   1740

The fall of bitcoin, which began in early 2018, will continue in the near future, says Wall Street analyst and co-founder of Fundstrat Global Advisors Tom Lee. According to him, the coin lost 60% of the price after the historic record in the region of $ 20,000, and continues to show signs of a drop to $ 5873, Bloomberg reports.

As Lee noted, the news about strengthening regulation, as well as the decision of Facebook and Google to ban advertising of crypto-currencies and ICOs significantly affect the digital assets market.

When sentiment is this weak, the market is increasingly ’fire, ready, aim’ - meaning, any headline today is likely to trigger selling. 
 

Tom Lee

Wall Street analyst; co-founder, Fundstrat Global Advisors

The report notes that the price of bitcoin almost doubled after falling below $ 6,000 in January, but could not overcome the $ 12,000 mark. In addition, over the past eight days, bitcoin first broke the support level at $ 9325, and this Wednesday - and the level of $ 8,370. The next two levels of support - $ 7535 and February $ 5873, the report says.

Bitwise to Withdraw Bitcoin ETF Application

The application was filled a year ago, company met with regulator 8 times and prepared more than 500 pages of documents
15 January 2020   132

Bitwise Asset Management, a digital asset management company, has withdrawn an application to launch a Bitcoin-linked exchange-traded fund (ETF).

On Tuesday, Bitwise sent a notice to the US Securities and Exchange Commission (SEC), where it announced that it had made such a decision "in the public interest and investor protection."

We did indeed withdraw the application. This is a procedural step, and we intend to refile our application at an appropriate time.

 

Matt Hougan

Global head of research at Bitwise

He also noted that his firm is currently “working hard” to answer the SEC questions in the 112-page commentary on the initial application.

We remain fully committed to the development of a bitcoin ETF.

 

Matt Hougan

Global head of research at Bitwise

Bitwise has applied for the launch of the Bitcoin ETF in January 2019. Since then, the company met with the regulator eight times and prepared 500 pages of documentation with arguments in favor of approving its proposal.