Daily crypto: The markets still show red numbers

Many have pointed out that the sharp decline in the crypto markets recently has been due to the fact that the U.S. Securities and Exchange Commission (SEC) has decided to postpone their decision regarding a bitcoin ETF application from the companies Vaneck and Solidx until the end of September.

Others have argued that the news of the postponement has been quite expected and that, instead, the decline is due to the fact that many big crypto traders have sold their crypto assets on the so-called over-the-counter (OTC) market.

“SEC hasn’t had the answers to their questions yet”

And now, Brian Kelly, founder and CEO of the New York-based crypto fund BKCM, considers that all those who sell bitcoin because of the SEC’s postponement are wrong.

“It (bitcoin) has had a tremendous run off of $5,800, and that was all really because people thought there was going to be a bitcoin ETF. The SEC came out and postponed that decision. A little spoiler alert, on September 30, SEC will likely postpone it again, because the market is not ready for it and the SEC hasn’t had the answers to their questions yet”, Brian Kelly says to CNBC, according to CCN.

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Markets still show red numbers

The crypto markets still show red numbers during the last 24 hours.

Among the largest cryptocurrencies, eos (-6,37%) and bitcoin cash (-3,97%) have dipped the most. The biggest cryptocurrency bitcoin (-2,68%) is currently trading at just over $6,300.

The cryptocurrencies on top 100 that have performed the best were chainlink (+12,33%) and monacoin (+9,73%), and the ones that performed the worst were hshare (-13,60%) and ontology (-12,56%), according to Coinmarketcap.

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