The U.S. Securities and Exchange Commission (SEC) has delayed its decision on all 6 Bitcoin Spot ETF applications by another 45 days. This means that the SEC will not make a decision on whether to approve or deny the applications until October.
The Delay And Effect
The delay is a blow to the crypto industry, which had been hoping for a positive decision from the SEC. A Bitcoin Spot ETF would allow investors to buy and sell Bitcoin on regulated exchanges, which would provide greater liquidity and transparency to the market.
The delay has also weighed on the price of Bitcoin, which fell by 5% in the last 24 hours to $25,655. The total crypto market cap has also fallen by 3% to $1.09 trillion.
Opportunity To Accumulate?
Some traders are viewing the delay as an opportunity to accumulate Bitcoin at a lower price. Others are taking a more cautious approach, waiting to see what the SEC decides in October.
Ultimately, the decision of whether to accumulate Bitcoin during this period is a personal one. There is no right or wrong answer, and the best course of action will depend on your individual risk tolerance and investment goals.
Here are some factors to consider when making your decision:
- Your investment goals: Are you looking to invest for the long term or the short term?
- Your risk tolerance: How comfortable are you with taking on risk?
- Your financial situation: Can you afford to lose the money you invest?
- Your trading strategy: Do you have a plan for how you will buy and sell Bitcoin?
If you are unsure about what to do, it is always best to consult with a financial advisor.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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