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Bitcoin price climbs back amidst warning from SEC

After falling to as low as $3,600 last week, Bitcoin surprisingly climbed back to the $4,000 mark. The rise happened despite the warning of the U.S. Securities and Exchange Commission that a bitcoin exchange-traded fund won’t happen soon.

According to a Forbes report, SEC chairman Jay Clayton’s pessimism over the probability of a bitcoin ETF in the near future is due to the agency’s fear that bitcoin can be stolen easily or controlled on unsecured markets.

But it seems that this has no effect on Bitcoin. The report said that Bitcoin price has added around 10% in the last 24 hours. This is brought about by investors and traders fighting back against the sell-off that plagued the crypto sector.

The report also said that the bitcoin’s rebound was also felt by other cryptocurrencies such as XRP, Ether, and Lumens. The same report said other cryptocurrencies registered almost 5% over the same period.

About Arnold Zafra

Arnold Zafra is a freelance tech blogger from the Philippines who is enthusiastic about cryptocurrency, decentralised apps and other emerging developments in the tech industry.

Ledger Nano S - The secure hardware wallet