The fact of the matter is that the crypto-markets have taken a beating from the SEC delay from giving a ruling with respect to the pending Bitcoin ETF that was sponsored by the CBOE Exchange. Many crypto-enthusiasts had expected a positive ruling by the 10th or 15th of August but the stark reality is that the SEC were not going to give it a pass that easily. Some crypto observers claim that the regulatory authority wants to make sure it has done its due diligence with this ETF given the external and internal pressure it is receiving.
With respect to internal pressure, the dissent of Commissioner Haster Pierce showed that not all of the SEC Commissioners ‘dislike’ crypto. In terms of external pressure, the SEC is continually getting public responses on its website that have so far been numbered to being over 1,300. With such pressure, it is understandable that they postponed the decision. You can still submit your comments via this step-by-step article available online.
Market decline = Good Entry Point on some Alt-Coins
With the market decline as a result of the aforementioned news, now is a good time to grab a few of our favorite digital assets for their current price was last seen some time back in November, 2017.
XRP is currently valued at $0.336. This price was last seen before the spectacular bull run of last December into January. LTC is massively discounted at $62. This is the lowest it might get this year and in the future.
ADA is currently trading at $0.11. This level had been reached in mid June only for Coinbase to announce it was adding the digital asset. What then happened is that its value started to climb, only to be shot down by the recent SEC news.
NANO seems to be the most hard hit digital asset and is currently valued at $1.29. This value was last seen before the bull run of last December. MIOTA is currently trading at $0.59. This value was last seen in mid November last year.
VET is a relatively new crypto-asset and that is the main reason to get some before everyone catches on. At $0.01 per VET, this is a complete bargain.
Solid projects with an equally active community
All these digital assets that are definately gems, are backed by solid projects as well as loyal and active communities. This means that they will not fail or disintegrate to zero as is the fear of many. They will all rise like a phoenix as soon as there are signs of the SEC being more friendly to a Bitcoin ETF.