Economic news

Bitcoin dives after streak of gains

Bitcoin extended its descent on the back of a ruling postponement by the Securities and Exchange Commission concerning bitcoin ETF.

It was awaited that the virtual currency would go through a bit of correction in the past hours, after defending the support of the main fifty-days moving average.

The return of sellers took place after breaking through $7,100 following the put off decision on permission to offer bitcoin ETF shares of VanExk SolidX Bitcoin Trust for the Chicago Board Options Exchange.

So yesterday BTC spiraled down to $6,719, today to $6,360, the lowest reading from July 16.

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