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  • Analysts Warn Bitcoin Could Break Support As New ETF Delays Announced – BTC, Ethereum, XRP, Litecoin, Stellar, BNB, EOS, BSV, XMR Forecasts

Analysts Warn Bitcoin Could Break Support As New ETF Delays Announced – BTC, Ethereum, XRP, Litecoin, Stellar, BNB, EOS, BSV, XMR Forecasts

August 12, 2019

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The U.S. Securities and Exchange Commission has delayed its decision on three Bitcoin ETF proposals.

The agency is now facing a hard deadline of October 13th for a proposal from Bitwise as well as a final deadline of October 18th for the VanEck proposal. A third proposal from Wilshire Phoenix can be delayed for another 150 days.

So far, the crypto markets have shrugged off the new delays. Right now, Bitcoin is up 0.84% at $11,442 according to COIN360. Ethereum is down 0.71% at $212.90, XRP is up 1.49% at $0.3040 and Litecoin is down 5.27% at $86.10.

CoinDesk’s Omkar Godbole says Bitcoin bears may be in charge in the near term, after a four-day struggle.

“Bitcoin (BTC) could drop below $11,000 in the next 24 hours, after sellers took victory in a four-day-long tug of war with the bulls…

So far, the downside has been restricted to levels around the former resistance-turned-support of $11,100.”

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The crypto outlet Bitcoinist is on the same page, highlighting BTC’s underwhelming volume.

“Bitcoin price levels hold above $11,000 for now but the low volume could cause this support to break.”

Here’s a look at the latest forecasts from across the cryptoverse.

Bitcoin

Ethereum

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XRP

Stellar, Litecoin, Binance Coin, EOS, Bitcoin SV, Monero

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