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Bitcoin Soars Above $1300 For First Time Ahead Of SEC Decision

Friday, March 10, 2017 8:02
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(Before It's News)

With the SEC decision to approve a Bitcoin ETF looming, the payrolls data-inspired weakness in the USD appears to have sparked a sudden panic bid in Bitcoin, spiking the virtual currency to $1305 – new record highs.

Hard to say if someone ‘knows’ something about the SEC decision or this is a kneejerk to the dollar drop…

Additionally, as Bloomberg points ut, BitMEX, a bitcoin platform, is offering members the ability to place bets using the digital currency on whether the Winklevoss Bitcoin Trust (COIN) will be approved by the SEC. Based on the betting, the ETF has a 45% chance of approval. Odds started at about 33% a month ago and jumped to 70% last week before fading. The lawyer who worked on the initial application said it’s unlikely to get approved, while some analysts call it a “coin toss.”



Source: http://silveristhenew.com/2017/03/10/bitcoin-soars-above-1300-for-first-time-ahead-of-sec-decision/

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