Bitcoin briefly plunges below $1,000 after SEC rejects application to list ETF

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Bitcoin briefly plunges below $1,000 after SEC rejects application to list ETF

"Bitcoin briefly plunges below $1,000 after SEC rejects application to list ETF" 

in the news Bitcoin briefly plunges below $1,000 after SEC rejects application to list ETF? What this all about..... See below. 

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Sentiment Trader sees The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency.

Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market. CBOE Holdings Inc's Bats exchange had applied to list the ETF.

The digital currency's price plunged, losing some 18 percent in trading immediately after the decision. It later recovered from the lows.

See what happened today...after the news. This is quite interesting. 

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Bitcoin had scaled to a record of nearly $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset.

Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments.

"Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated," the SEC said in a statement posted online. "The Commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop."

The regulators have questions and concerns about how the funds would work and whether they could be priced and trade effectively, according to a financial industry source familiar with the SEC's thinking.

 Bitcoin is a on a good run, but don't compare it to gold just yet Bitcoin is a on a good run, but don't compare it to gold just yet  

"We remain optimistic and committed to bringing COIN to market, and look forward to continuing to work with the SEC staff," said Tyler Winklevoss, CFO of Digital Asset Services.

"We began this journey almost four years ago, and are determined to see it through. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors."

The Winklevoss twins are best known for their feud with Facebook founder Mark Zuckerberg over whether he stole the idea for what became the world's most popular social networking website from them. The former Olympic rowers ultimately settled their legal dispute, which was dramatized in the 2010 film "The Social Network."

Since then they have become major investors in the digital currency, which relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Solutions to the puzzle come roughly every 10 minutes.

There are two other bitcoin ETF applications awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year.

SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application last year.

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This is the next ‘meteorite’ that could hit US markets

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This is the next ‘meteorite’ that could hit US markets

"This is the next ‘meteorite’ that could hit US markets" 

in the news This is the next ‘meteorite’ that could hit US markets? What this all about..... See below. 

This is the next ‘meteorite’ that could hit US markets

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Sentiment Trader   can see that The next threat to the so-called Trump rally is brewing across the pond.

While many believes that U.S. markets are already looking a bit too optimistic, we can sees the upcoming French election as the next "meteorite" that could hit equities.

"European political risk is headline, and it might not hurt European equity markets because the fundamentals are looking good there,""No doubt it has the ability to cast volatility or to influence markets in the short term."

The first round of the French presidential elections is scheduled to take place April 23, and eyes are on the right-wing National Front and euroskeptic Marine Le Pen, who has been gaining in the polls. The results of the election, which will end in May after pitting the top two candidates against each other, could have implications for the Federal Reserve as well.

Analysts have predicted that the Fed could hike rates anywhere between two to four times this year, and some suggest that anything that would cause a stock market "tantrum," like the French election, could motivate the U.S. central bank to raise rates only twice.

"The Fed is cautious, they have a bias to being on hold versus moving too fast, so I think that's important to keep in mind,"

This, along with political uncertainty from Washington, could mean that U.S. equities are overshooting.

"The market in some sense has had tunnel vision,"  "While a lot of the gains we've seen might have had to do with reflation and the idea that global growth is picking up, when the market moves as fast and ferocious as it really did, it's hard not to say that we're all looking to Washington for positives."

"While we may get some of [the positives] they may come with a lag and we might not get tax reform until 2018,"  "Yet the market in 2017 has already priced that in."


The Dow fell for the third day in a row Wednesday. The S&P 500 and Nasdaq composite, however, did regain their losses from the previous two days.

Quite interesting to see our predictions play along, and the russell is in trouble here a bit!. 

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the chart that could be flashing a sell signal for stocks

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the chart that could be flashing a sell signal for stocks

"the chart that could be flashing a sell signal for stocks" 

in the news the chart that could be flashing a sell signal for stocks? What this all about..... See below. 

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There is a curious divergence in the market right now recently the HYG has taken a bit of a leg lower. but how worried should investors out there be? this is an interesting trend here, that we are seeing. Here is the chart, 

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What does this mean?

well it means that up until the end of February investors were taking out more and more risk. Piling into the high yield bonds, and then suddenly they have realized, the fed might actually be going to raise rates soon, on march 15th, as well as increased concerned about the FREXIT, with the french presidential election. 

 Those two issues are the main 2 factors right now. What this means is that investors are starting to take some money off the table from some of the most riskier assets like the high yields and maybe now be ready to start looking to other areas in the up coming weeks.

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