SEC bitcoin ETF approval decision will be released soon, how to deal with the traders
The global bitcoin traders this week for the U.S. Securities and Exchange Commission (SEC) for the final bitcoin ETF held their breath.
Expected SEC will make a decision before this Friday. Specifically, SEC is considering BATS global markets third major U.S. exchanges (BATSGlobalMarket) proposed new rules, these rules will be on the line for the Winkelvoss brothers bitcoin ETF pave the way.
At the same time, traders are in all likelihood in preparation for the forthcoming. According to some traders said, no matter what the SEC decision is that they must be prepared for the currency price fluctuations.
Bitcoin leveraged trading platform Magnr co-founder JoeLee said:
“ETF is expected results when there will be price fluctuations of the currency and frequent trading activities.”
Investors entrepreneurs VinnyLingham said, there is no hint of any decision about SEC. However, the volatility of the currency price is certain. Therefore, market participants are in this situation actively.
“Once a decision is announced, volatility will immediately re swept.”
Lingham is certainly not the only one to see people.
Founder CryptoCompare CharlesHayter also believes that the trading volume will rise.
“We think the currency price volatility will increase, the market trading volume will rise.”
Magnr Lee also think so. He said that they are employees of trading platform to prepare for a variety of effects, ETF will bring the specific, is the staff need to solve quasi potential problems caused by the trading volume rose.
“Most of the business as usual, but we increase manpower to ensure the smooth implementation of the transaction.” He said. “We will pay close attention to all kinds of situation, to ensure that our customers smooth transactions.”
Many market analysts argue that traders have ETF will be passed, especially the recent currency price soared to nearly $1300. After the currency price increases, many people warned that if the negation of SEC bitcoin ETF, currency price is likely to immediately dive.
For the worst?
Although many traders that had expected currency price will fluctuate, but some of them said, if the SEC decision after the announcement of currency prices diving, also have their own special response plan.
At least one trader that he was ready for the worst.
CryptoAssetManagement President TimEnneking said that his team will respond according to the situation:
“If SEC rejected the bitcoin ETF application, and caused the currency price drop, we will choose to temporarily short, and may even be selling all coin.”
However, encryption monetary fund manager JacobEliosoff has a different view, and hinted that he will look for opportunities in currency prices fell in every possible.
“I waited while a chance to buy a large amount of crash — I don’t think the coin price has been hovering around $one thousand.” Eliosoff said.