Continued uncertainty over the Securities and Exchange Commission’s (SEC) decision to approve a proposed bitcoin exchange-traded fund (ETF) has caused prices to crash.
Bitcoin a huge amount of ground today, dropping 8.72 percent on the day to trade at $6,494.73.
Ethereum crashes down by 11.98 percent to trade at $306.88.
Ripple fell a whopping 17.83 percent to trade at $0.337825, while Litecoin suffers a 14.05 percent loss to sell for $64.07 percent.
Bitcoin prices are unable to rally against a flood of unsure investors waiting to see what happens with the ETF decision, which could ultimately make or break the market.
Can BTC recover and gain the ground it is predicted to make in 2018?
The decision of the United States Exchange Commission to postpone ETF decision to September affected the price of Bitcoin, as cryptocurrencies, in general, lost over $20 billion.
The Bitcoin ETFs will take longer to arrive, thanks in no small measure to the decision of the United States Securities Exchange Commission to postpone the ruling on CBOE to the 30th of September. In the document presented by the exchange commission, the CBOE BZX Exchange filed for Bitcoin ETF on June 2, 2018.