3/11/2017, 11:07 AM (Source: TeleTrader)
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Bitcoin turns to gains after drop on SEC decision

The most popular digital currency traded in the green on Saturday, reversing losses from yesterday following The United States Securities and Exchange Commission’s (SEC’s) denial to launch the Winklevoss Bitcoin Trust, the first bitcoin exchange-traded fund (ETF). After the announcement, the bitcoin dropped more than 9% on all major bitcoin exchanges.

The SEC decided to reject the application due to "concerns about the potential for fraudulent or manipulative acts and practices" in the digital currency market.

Bitcoin traded 4.39% higher, changing hands for $1,179 at 11:00 am CET on the OKCoin exchange. Similarly, the cryptocurrency gained 4.71% to trade for $1,169.54 at 11:01 on BitStamp.

Breaking the News / VK