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Bitcoin Getting Crushed After SEC Denies ETF Application (Again)

by John Galt
26.02.20 17:40 ET

As bad as the world needs a viable digital alternative to the fiat circus, apparently the SEC does not agree (via Bloomberg):

SEC Quashes Dreams of Bitcoin ETF With Another Rejection

With the SEC destroying the hopes of basement dwellers and secretive investors trying to hide their funds everywhere, the idea that Bitcoin’s era might be coming to a violent end might only get enhanced more by a financial crackdown after the current COVID-19/coronavirus era ends.

When the virus finally subsides, odds are any black market and/or “alternative” investments will receive greater scrutiny as governments globally look to flush out the digital bandits as some call them and demand all funds become digital in only their local currency.

The chart is not pretty and someone sniffed out the information in the story above earlier today as BTC broke down hard far below the recent 10,000 level:

Courtesy of Investing.com

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