Connect with us

Blockchain

Shiba Inu Price Analysis: SHIB risks losing 50% of its value as it faces several obstacles ahead

TL;DR Breakdown Shiba Inu price analysis highlights SHIB’s ongoing price consolidation. Weeks after a continuous price-down surge, Shiba Inu appears stuck in consolidation. Shiba Inu could lose more than 50 percent of its value to register a new lower low. The reduction in trade volumes adds validity to the bearish narrative. After weeks of recording […]

Published

on

TL;DR Breakdown

  • Shiba Inu price analysis highlights SHIB’s ongoing price consolidation.
  • Weeks after a continuous price-down surge, Shiba Inu appears stuck in consolidation.
  • Shiba Inu could lose more than 50 percent of its value to register a new lower low.
  • The reduction in trade volumes adds validity to the bearish narrative.

After weeks of recording negative price movements, Shiba Inu appears to have entered into consolidation. At present, the crypto asset is stuck in an extension of lower highs and higher lows as indecisiveness scales.

Shiba Inu Price Analysis: General price overview

Shiba Inu appears to be under pressure at the time of writing as the crypto asset selling spree continues. At present, Shiba Inu is exchanging hands at around $0.00000730, which is about 85 percent below its ATH and slightly above its all-time low. The crypto coin also has a market capitalization of about $2.8 billion, ranking at 37 on coinmarketcap.com.  

According to analysis, there are 3 reasons why SHIB registered a negative price movement today. First, it is due to the recent China ban on crypto assets in the vast Asian nation. Reports say the Chinese government has shut many social media platforms of leading crypto assets such as Shiba Inu. Second, SHIB’s negative price movement is due to the general cryptocurrency sell-off experienced during the recent FBI recoup of most of the cryptos stolen during the Colonial Pipeline scandal. As such, investors are questioning the security of the privacy-oriented token. Finally, rumors have it that the Feds will search through investor information with token accumulation during the May crash.

Shiba Inu price movement in the past 24 hours

Shiba Inu Price Analysis: SHIB risks losing 50% of its value as it faces several obstacles ahead 1
Source: TradingView

At the time of writing, SHIB is up by about 40 percent from its $0.00000629 low registered on May 19. While the crypto coin is trying to bounce back, retesting all-time milestones remains hard as the dog-themed crypto coin requires a 480 percent upsurge for a retest.

According to the 24-hour chart, SHIB has been trading within a symmetrical triangle pattern, signaling an intensifying level of indecisiveness. The symmetrical

pattern’s calculated move is roughly 50 percent, forming a lower target of $0.00000402 and an uptick target of about $0.00001477. SHIB’s price action could witness a significant downward trend during this phase of indecisiveness and lack of buyers.

Shiba Inu 4-hour chart

Shiba Inu Price Analysis: SHIB risks losing 50% of its value as it faces several obstacles ahead 2
Source: TradingView

The 4-hour chart shows Shiba Inu is currently struggling to settle above the 50 and 100 4-hour Moving Averages. These 2 technical indicators are acting as tough barriers for the crypto coin, especially whenever social volumes depreciate. Shiba Inu’s social volume has been consistently declining since its ATH on May 10. While May 25 witnessed a spike in social volume, Shiba Inu’s price continues to fail to follow suit.

Conclusion

According to key social media metrics, Shiba Inu’s bearish narrative could validate if the crypto-asset fails to settle above the downside trend line on the 24-hour chart. This will lead to a 50 percent price decline. However, in the case of a sudden rally in buying pressure, the crypto coin should settle above the 50 4-hour Moving Average and the 100 4-hour Moving Average to invalidate the bearish narrative.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2021-06-08/

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading

Blockchain

SEC Delays VanEck Bitcoin ETF Application—Again

The SEC has delayed another Bitcoin ETF hopeful this week, this time pushing the deadline back until as late as August.

Published

on

In brief

  • The SEC has again delayed the VanEck Bitcoin Trust filing, this time asking the public several key questions about the market.
  • An approved Bitcoin ETF has been heralded as a key milestone for the leading cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on VanEck’s Bitcoin exchange-traded fund (ETF), called the VanEck Bitcoin Trust. 

This is the second time this week that the Commission has pushed back a decision on a Bitcoin ETF. On June 15, the SEC postponed its decision on Kryptoin’s ETF filing.

The SEC has yet to approve any Bitcoin ETF, with chairpeople frequently citing manipulation and a lack of transparency in the crypto market as key reasons. A Bitcoin ETF has been heralded as crucial for the continued acceptance of the asset class. It would offer traditional investors less familiar with cryptocurrencies a regulated and conventional means of gaining exposure to Bitcoin. 

On this occasion, the SEC has also asked the public to comment on several key questions related to the VanEck filing. 

The Commission asks whether the filing would be vulnerable to manipulation; if the public believes the cryptocurrency industry has changed since 2016; if VanEck’s filing has curtailed any possibility of manipulation; and if Bitcoin is transparent.

The public has the next 20 days to file any comments on the above. Commenters can make submissions electronically via the Commission’s portal. Post and email are also accepted means, according to the SEC.

VanEck’s Bitcoin ETF journey

VanEck’s first filing came in June 2018 with its VanEck SolidX Bitcoin trust. The company eventually withdrew this filing in September 2019. 

The New York-based investment manager refiled a new application in December 2020, called the VanEck Bitcoin Trust. In March 2021, VanEck then proposed an amendment to the filing. 

The SEC delayed this filing in April 2021, according to a statement from the Commission. Yesterday’s announcement is the second delay of the same filing.

The VanEck Bitcoin Trust would trade shares that reflect the performance of the MVIS CryptoCompare Bitcoin Benchmark Rate. This rate is a U.S. dollar value that tracks the median price of Bitcoin across five exchanges. These kinds of price aggregators are often used whenever a fund manager or exchange is looking to build a financial product and needs a reliable price tracker. 

Shares of the trust would trade on the Cboe BZX Exchange, according to the filing. The filing did not cite a specific custodian that would hold the underlying Bitcoin in the Trust. 

Though many have said 2021 would be the year the SEC approves a Bitcoin ETF, the Commission continues to proceed with extreme caution. 

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/73817/sec-delays-vaneck-bitcoin-etf-application-again

Continue Reading
ACN Newswire7 mins ago

Singapore’s Commodities Intelligence Centre Signs Investment Agreement to Establish Its Overseas Digital Trade Platform in Chongqing’s Guoyuan Port

Blockchain9 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

Blockchain9 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

Blockchain9 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

Blockchain9 mins ago

SEC Delays VanEck Bitcoin ETF Application—Again

HRTech10 mins ago

Lockdown ease delay: 5 final preparations to make this month

Blockchain11 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

Blockchain11 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

Blockchain12 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

HRTech12 mins ago

Employers not doing enough to nurture female talent

Blockchain12 mins ago

Top Economist Steve Hanke Calls El Salvador’s Bitcoin Adoption Decision Stupid

Blockchain13 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain13 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain13 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain13 mins ago

World Bank Shuns El Salvador Bitcoin Adoption Plan

Blockchain13 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

Blockchain13 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

Blockchain14 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

Blockchain14 mins ago

John McAfee Admits His Cryptocurrency Fortune is Gone but He Regrets Nothing

HRTech14 mins ago

A year in lockdown: How employee benefits have changed

Blockchain14 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain14 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain15 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain15 mins ago

DAO1 Announces the First Edition of its International Blockchain Hackathon

Blockchain15 mins ago

Ethereum Layer 2 Protocol Metis Launched its Second Testnet

Blockchain15 mins ago

Ethereum Layer 2 Protocol Metis Launched its Second Testnet

Blockchain16 mins ago

Ethereum Layer 2 Protocol Metis Launched its Second Testnet

Blockchain16 mins ago

Ethereum Layer 2 Protocol Metis Launched its Second Testnet

HRTech17 mins ago

Supporting employees through pregnancy loss

HRTech18 mins ago

NEWS: Almost a quarter of UK employees ‘haven’t missed anything’ about the workplace

Trending