Hello All My lovely Friends !!!
Friends as we are seeing that Crypto Market is fully reddish. This all big fall came almost with in last 24 hours.
As We can See Coinmarket Cap has also came down to only $ 220 Billion.
So now let's discuss why this big fall came :
Friends as we Saw in past few days that there were so much hype of Bitcoin ETF Approval. And that hype pumped the Crypto Market. Specially Bitcoin marked around $8300 .
But Today news came that ETF get postponed and after this News Crypto Market has shown the reverse trend and Bitcoin fall down near to $6200 .
Some part of News is :
The (SEC) has postponed its decision on the Bitcoin exchange-traded fund (ETF) proposal by VanEck Associates Corp. and SolidX Partners Inc. The SEC is now expected to make a decision by September 30.
The delay shouldn’t bother the investors because the ETF proposal has not been rejected yet, it has just been postponed. However, the speculators and short-term momentum traders who hoped for a green light with ETF News, have dumped their positions. And As a result, the total market capitalization of the Cryptocurrencies is now at about $220 billion, it is 24 percent down from July 27 high of $300 billion.
You Can Read full Artcile on CoinTelegraph.
So this all dump came after this ETF postponed news. But We don't need to Worry about this . This is just postponed.
We all Should HODL our position strongly. Sooner or later Market will get recovered for sure.
What's your Opinion About Market Recovery ?