[2018-06-15] Crypto Markets Rebound After News the US SEC Will not Consider Ethe

[maarx]

Crypto Markets Rebound After News the US SEC Will not Consider Ethereum a Security

https://cointelegraph.com/news/crypto-markets-rebound-after-news-the-u-s-sec-will-not-consider-ethereum-a-security

June 14th: all but two of the top 100 cryptocurrencies by market capitalization are making gains, according to Coinmarketcap data. Gains in of over 10 percent in some coins are a welcome respite for investors after crypto markets took a battering over the course of last month. Today’s gains are likely due to positive news that Ethereum (ETH) will not be regulated as a security under U.S. law.

Bitcoin (BTC) is now up 5.89 percent in the 24-hour period, trading around $6,688 at press time. The leading cryptocurrency began to see a reversal of its downtrend late afternoon today, recovering from its intraday low of $6356.

As of press time, Coinmarketcap data indicates rising BTC trading volumes of $5.1 bln over the 24-hour period, up from their weekly low of $3.8 bln.

To better enjoy the rally, Bitcoin’s supporters can now count among them the former Chief Strategist for the Trump administration, Steve Bannon, who, as Cointelegraph reported today, reportedly holds a “good stake” in Bitcoin.

The controversial figure has even raised the idea of launching his own cryptocurrency, dubbed the “deplorables coin” in an homage to Hillary Clinton’s reference to Trump supporters as a “basket of deplorables.”

Your thoughts on it?

[1715393028]

1715393028

[1715393028]

1715393028

[1715393028]

1715393028

[1715393028]

1715393028

[1715393028]

1715393028

[darkangel11]

I believe such news are the real reason behind crypto price movements. Not some small exchanges being hacked, not some coordinated whales trying to manipulate the price. The government is still the greatest fear monger and when the SEC or any other agency is talking, people listen, and shit their pants
The SEC ruling is a good news, but the issue of CTFC subpoenas still remain. And then there are those rumors about tether. Binance needs to come clean and prove they're not manipulating USDt.

[Ar.harry]

As we talk abt cryptocurrency some news may be real. Some people's starting worried abt bitcoin but there is no need to panic and no need to worry.  Crypto technology is totally legal and not a fake agency. So continue doing your work,  you definitely get the profit.

[iram1011]

SEC is still not clear about the status of 1600 other coins except BTC and ETH not being a security. I am still waiting what SEC has to say about other coins and can bring a blanket rule to cover all the ICO. But SEC is too stiff and inflexible and this might create a problem for all the tokens that went through an ICO. Since, most of the companies don't usually have a working project before the ICO conduction and project company is trying to raise money to go on a venture, then this is offering security only. The real market situation will be known when the status of other altcoins become clear and big financial firms are waiting for that only.