Bitcoin prices are trading around the $1,000 figure with no clear direction. Market participants seem to be focused on the upcoming bitcoin ETF decision and ignoring the news from China. Little brother Litecoin entered a short-term bear market last week. As usual we’ll begin with BTC and come back to Litecoin later in the article.
Bitcoin Traders Wait for ETF Decision
A lot has happened since our last update seven days ago. The major news was the Big Three Chinese exchanges stopping bitcoin and litecoin withdrawals. This initially crashed prices and we saw a low of $913.99 on BTC-E. Shortly thereafter however a recovery occurred that sent BTC/USD back to the $1,000 handle. This exact scenario repeated one more time, with prices bottoming out at $963 dollars few days later. Read more: https://blog.fxopen.com/bitcoin-waits-for-etf-decision/