Analyst CNBC Fast Money’s Brian Kelly (Brian Kelly) said that despite the decline of quotations of BTC in recent days, investors selling bitcoins due to the transfer decisions of the SEC for exchange traded funds are making a mistake.
Most analysts believe that BTC lost 12% of the value of the decision of the SEC to extend the consideration of the application for the opening VanEck ETF. Some investors expressed doubts about the veracity of these statements given that the postponement of the date of the final decision of the SEC was to be expected.
As writes the CCN, most likely, the decline in market capitalization occurred due to a major transaction made in the OTC order.
The analyst also emphasized that, regardless of the reason, selling investors their cryptocurrency investments due to the transfer of the approval of the Fund VanEck was the wrong decision. He explained:
“Bitcoin rapidly rose from $5800 only thanks to the fact that people thought that there will be BTC investment Fund. Then the SEC moved the removal of the final decision on September 30. Small spoiler: September 30, the SEC will probably announce a further delay, because the market is not ready yet, and the SEC has not received answers to all their questions.”
Kelly also commented on the counter-trend Ethereum Classic, which, unlike most digital assets have gained in value relative to bitcoin and the U.S. dollar. The analyst pointed out that the quotes of a token rose to 30% due to the listing on Robinhood and Coinbase, which should attract market ETC more retail investors from the United States. He said
“Over the last month Ethereum Classic rose more than 30%. In fact, that there were two driving causes: Coinbase and Robinhood. For the first time, retail investors can easily access ETC. Coinbase added a token on its platform for institutional investors, I think, about a week later they will add it to the platform for retail.”
Coinbase originally planned to spend listing ETC in September. About this exchange reported in June, the news caused a strong reaction in the community.
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