Tag: Overreacting

Bitcoin ‘overreacting’ as SEC returns ETF filings, BTC price dives 6%

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Bitcoin (BTC) fell below $30,000 after the June 30 Wall Street open as markets panicked over the fate of its first spot exchange-traded funds (ETFs). BTC/USD 1-hour chart. Source: TradingView Bureaucratic error may explain Bitcoin ETF filing hiccup Data from Cointelegraph Markets Pro and TradingView showed BTC price action hurtling downward, briefly reaching $29,500. The volatility accompanied a report that United States regulator the Securities and Exchange Commission had refused applications for the first Bitcoin spot-price ETF. Those applications had kickstarted the latest BTC price rebound, one which had taken the…

Investors ‘Overreacting’ to ETF Delay, Should Focus on Bullish News

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Pantera Capital CEO Dan Morehead claimed that crypto markets are reflecting some overreaction from investors recently, in comments to CNBC August 8. Speaking in an interview on CNBC’s “Fast Money,” Morehead suggested that investors have exaggerated the importance of the U.S. Securities and Exchange Commission (SEC) recent delay on their decision regarding a Bitcoin (BTC) Exchange-Traded Fund (ETF). As per Morehead, crypto investors should instead focus on more bullish events in the market, such as the announcement of upcoming cryptocurrency project Bakkt by the Intercontinental Exchange (ICE). The ICE, which operates…

Stop ‘Overreacting’, Crypto Hedge Fund Vet Tells Bitcoin Investors

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As the founder of the first U.S. cryptocurrency hedge fund, Dan Morehead has seen his share of bitcoin bear markets. Speaking with CNBC on Wednesday, the Pantera Capital CEO said that he has a simple message for bitcoin investors selling into a market that has already experienced a 67 percent decline from its all-time high: stop overreacting. “The main thing to remember is that bitcoin is very early-stage venture, but has real-time price feed — and that’s a unique thing. People get excited about the price and overreact,” said Morehead,…