Majors Lead an Altcoin Sell-off. Is it Time to Layer in?

SEC Puts Investors at Unnecessary Risk; Rejects VanEck Spot ETF

The SEC published its decision last week denying a proposed rule change that would allow the VanEck Bitcoin Trust to operate, thereby forcing investors to go through futures-based ETFs to gain exposure to Bitcoin. The VanEck Bitcoin ETF would have been a spot-based ETF, which would have tracked Bitcoin directly, mitigating risks for prospective investor unlike the riskier futures-based ETFs.

Litecoin Mean Reverts

Litecoin has reverted to a cluster of moving averages on the daily time-frame, dropping 28% from $302 to $218 since its Nov. 13th local high.

Compound Teeters on the Brink

Meanwhile, the Compound finance ticker has presented another unique buying opportunity within the accumulation range delineated last week.

Monero breaks down

Monero hasn’t had its time in the sun, and perhaps never will. Legacy coins tend to perform in clusters yet XMR/USD hasn’t followed, yet.

DYDX breaks down into a range?

DYDX broke down into bearish territory after losing the upwards trending support to increasing sell-side pressure. However, bulls have so far stepped in on the DYDX/USD pair, suggesting a range-bound trading environment.

https://www.paypal.com/donate?hosted_button_id=C9VRLGTBHQX2N

Read More: SEC Puts Investors at Unnecessary Risk; Rejects VanEck Spot ETF

www.chrisoncrypto.com

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Chris on Crypto

Chris on Crypto

71 Followers

Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.