Friendly comments from SEC commissioner Jackson did nothing to stem a recent price slide as BTC fell below $3,400. To the question will the SEC ever approve ETFs, he said: “Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so. Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we make it available to everyday mom & pop investors, we are taking risks that Americans can get hurt.”
Rules, rules, rules. Can’t live with ’em; can’t live without ’em.
It’s a bizarre period for a bizarre industry. Everyday, flashy press releases promoting something hip, cool & “game changing” get trotted out. Exchanges are killing it; crypto lenders too (see Genesis, Celsius). But coins are slowly dying, it seems. Number 16 coin NEM is down 97% from its ATH.
Crypto Twitter: “Seeing people post BTC charts of a $30 range is the most painful thing I’ve seen since trading crypto. Volatility is painful right now (sic).” I think this person meant the “lack of” volatility is painful; you get the idea.
Speaking of Twitter, CEO Jack Dorsey is a fan. He’s also Square CEO – they send money. Jack thinks BTC has a future to be “the” online currency. Yippee.
As we trend lower…