Ethereum Bouncing After SEC Meeting Turns Out to Be FUD
Surprise surprise, this alleged meeting of the SEC and CFTC to decide whether Ethereum is a "security" did not exist.
The FUD Strikes Again
So with that big decision looming, ETH sold off a bit yesterday (or earlier today depending on where you are). I mean, rightfully so - that is a catalyst of concern.
Now that the meeting did not come to fruition, ETH has bounced a bit. The irony is it got down toward that support area of 700-680 before doing so. I love when we get clean tests of prior resistance points to solidify them as support.
Anyway, I talk ETH price action along with BTC and LTC in the video below...
For more videos: https://www.youtube.com/channel/UCZRKwfbrxgOHK9HjazeCNsA
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
Need to learn the basics about bitcoin, the blockchain and wallets?
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
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Great information, greetings from Venezuela!!!
Thanks!
nice info... i am understand sir... thanks for all
We all want to blame the media for "FUD" and while they obviously deserve some of the blame, not enough people are actually checking original sources quoted by other outlets. WSJ did not say that there would be a meeting where the SEC would decide if Ethereum was a security, but rather an informal discussion.
Other outlets are to blame for this misinformation on this occasion. In the future we all need to point out inaccuracies to avoid such misinformation spreading and resulting in price declines predicated on nothing factual.
Despite the recent FUD, there will come a day we do get some news related to this but we need to have in mind that the regulators work for the government so they are never efficient when it comes to decision making. The regulation of cryptocurrencies in general is not something that will happen overnight as there are many considerations to review. There are also different agencies that will want to be involved in the process which is also not clear what it is given that most financial market laws differ among states and there are few federal laws that could immediately apply to the space. States will surely want to have a piece of the say as seen by states like Wyoming and Arizona whom have had their own views and laws passed. Also, I imagine that there are others in the government that are interested in ensuring the industry stays in the US given the potential for growth and innovation the technology has for the economy.
Yep, just a matter of time before there is regulatory standard at the state and federal levels.
So..... who started the #SEC meeting rumours on #Ethereum? @WSJ perhaps? There was no official hearing on this today.
LMAO!