Opportunistic traders have benefited from lower Bitcoin prices

Opportunistic traders have benefited from lower Bitcoin prices

The opportunistic traders took advantage of the BTC price differences on the exchanges

With yesterday’s Bitcoin price collapse, worth close to $ 1500, opportunistic traders have reaped significant benefits. It is about exploiting the price differences that appear on the different exchange platforms (known as premiums). For example, for a short period, Bitcoin sold on BitMEX for $ 8150 and Coinbase at $ 8750. The $ 600 difference meant significant profits for those who took advantage of the arbitrage opportunities.

Someone is accumulating like crazy on Coinbase. Huge buying at huge premium

– hodlonaut?⚡? (@hodlonaut) September 24, 2019

Currently, the Bitcoin price remains below the $ 8500 threshold, and analysts are unable to agree on short-term forecasts.

SEC postponed decision on Bitcoin Wilshire / NYSE Arca ETF

SEC has initiated proceedings for a Bitcoin ETF proposal registered by Wilshire Phoenix in collaboration with NYSE Arca. It was filed in May, and the SEC is now requesting more views from the public. Points that need clarification include the possibility of manipulating the BTC price on the CME stock exchange, used as a reference in the Wilshire proposal.

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The regulatory authority will need to make a final decision on the Bitcoin ETF proposal within 35 days.

The other Bitcoin ETF proposal in operation, the one submitted by Bitwise, has a final deadline in mid-October.

Circle announces a break in the activity of the Circle Research department

Boston-based Circle announced that it will temporarily suspend Circle Research’s research activity.

According to a statement from the company, despite the “significant progress” of its products, Circle has decided to evaluate its contribution and content strategy.

“In this regard, we have decided to discontinue the Circle Research activity for now as we decide on a future direction for the program,”

is shown in the statement.

Circle Research was launched in October 2018. The research group produced market analysis, project evaluations and provided weekly information on the crypto ecosystem.

In August, Circle restricted its OTC office by laying off six employees, and in July announced it was closing its Circle Pay payments application.

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British police auction BTC worth half a million pounds

British police have announced that they will auction Bitcoin worth half a million pounds on September 25-26. According to London Economic, cryptocurrencies were confiscated from an offender who offered hacking services in exchange for Bitcoin and sold personal data.

In addition to Bitcoin, the police also sell other criminally-owned assets, including cars, diamond jewelry and a luxury Rolex watch.

The auction is run by the auction house in Ireland, Wilsons Auctions. It also sold cryptocurrencies worth $ 400,000 in March. In that case, it was a tender on behalf of the Belgian government.

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