After U.S regulators rejected the Winklevoss twins' demand for a Bitcoin Exchange Traded Fund (ETF), the crypto once more shows its resiliency and hardiness, staying above US$8,000.
On March 10 last year, the Securities Exchange Commission (SEC) rejected the Winklevoss Bitcoin Trust petition to freely commerce the first ever Bitcoin ETF. Nevertheless, the SEC, therefore, has given petition seeking a proper review of the denial.
Read the details in the article of Coinidol dot com, the world blockchain news outlet:
https://coinidol.com/bitcoin-giants-turn-blind-eye-to-us-regulators-etf-rejection/Its not really about turning blind eye to it but because market participants have other things to focus and no one was expecting anything different from the application of Winklevoss brothers all attention was on the initial August 11 ETF application which was widely reported as I didn't even get to read about the application of the Winklevoss brothers before its denial which I believe everyone else must have been in the same situation.
If we really want to test the "giant" nature of bitcoin price, when the denial of the suspended initial August 11 application happen and the price didn't shake, then we can conclude but it would be a great thing if any proposed application can be given the treatment that everyone just go by its normal business, if its positive, price takes a jump. If its not, the market remain the same.
