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Bitcoin ETF: Reasons why VanEck Bitcoin ETF can be approved soon



The approval of a Bitcoin ETF is the most awaited thing by all cryptocurrency investors. Here's why SEC may approve the VanEck Bitcoin ETF in February 2019.

The approval of a Bitcoin ETF is the most awaited thing by all cryptocurrency investors worldwide as this would bring the market to a whole new level. 2018 has been one of the worst years for bitcoin investors with the price falling down from around $20,000 before the start of the year to a whopping low of around $3200 in the ending month. The SEC has been constantly delaying its decision on the Bitcoin ETF application by VanEck. Just a few days back the SEC has been ordered to provide a final decision on the approval or disapproval of the VanEck Bitcoin ETF on 27th February 2019.

The approval of VanEck Bitcoin ETF by the SEC will not only be a great news for bitcoin investors but also for other altcoin investors too as this would open the doors for the approval of ETF’s for other cryptocurrencies as well in future. There are four main reasons why we believe that SEC may approve the VanEck Bitcoin ETF in February 2019:


1. Bakkt Exchange Launch:

Bakkt exchange has announced its launch date in January 2019 which will feature the trading of physical bitcoin futures. The exchange was earlier set to launch this year end but the launch was delayed to due to the fact that the company believes that they need some more than time in order to ensure that their customers are ready to trade on the 1st day of the launch itself. The best part of Bakkt is that the CEO Kelly Loeffler is the wife of the CEO of Intercontinental Exchange and Chairman of the New York Stock Exchange.


2. Nasdaq to launch Bitcoin Futures trading in early 2019:

Nasdaq, the second largest stock market in the world by market capitalization is all set to launch Bitcoin Futures trading in the first quarter of 2019. This step by Nasdaq would surely spread the wave of Bitcoin to the masses.


3. World’s first Bitcoin ETP approved:

Last month, the government of Switzerland had approved the world’s first Bitcoin ETP which is providing a great opportunity for institutional investors to invest in cryptocurrencies. The ETP is being offered by Amun AG, a cryptocurrency startup and is listed on ‘SIX Exchange’ which is the 4th largest exchange by market cap in the whole of Europe.


4. MVBTCO (MVIS Bitcoin US OTC Spot Index) Launch:

MV Index Solutions, a company that is somehow linked to VanEck has launched an OTC (Over the counter) Bitcoin price index for promoting transparency in the world of cryptocurrency. MVBTCO is now being used by big industry players such as Circle Trading, Genesis Trading, and Cumberland.

Earlier this year, the Winklevoss Twins (Gemini) Bitcoin ETF application was denied by the SEC and the reason behind it is being quoted as a lack of transparency in the cryptocurrency atmosphere. As of now, the market is exploring new ways to bring out transparency in the crypto space to convince the authorities to approve cryptocurrency ETFs.


Cryptocurrency Price Analysis: Great Week for the top 10



The current week has proved to be quite amazing for the cryptocurrency market as all major coins are holding green. The total cryptocurrency market rose by around $1.5 billion yesterday night with the price of bitcoin reaching $4100.



BTCUSD Price Chart

BTC/USD Weekly Price Chart

Bitcoin broke the $4000 resistance level on 17th March and has been over this range since then. Bitcoin has turned the previous resistance into strong support now and has moved upwards slowly currently trading around $4120 (according to Bitfinex chart) with around 1% increase in the last 24 hours. If bitcoin is able to maintain its position above $4100 range for long, it might soon move ahead towards the major long term resistances such as $4500 and $4600.



ETHUSD Weekly Chart

ETH/USD Weekly Chart

Ethereum also saw a nice bullish momentum this week after reaching the highest point of $143. Currently, Ethereum is trading nicely around $140 and is experiencing a few dips while trying to move upwards.

Unlike other top 10 coins, Ripple market is experiencing volatility from the last week but the momentum is still quite bullish.

LTCUSD Weekly Chart

LTCUSD Weekly Chart

Litecoin has been following trends and is steadily trading around $60 from the start of the week. Litecoin has increased more than 1.67% in the last 24 hours which makes it the best performing crypto of the day (in comparison with the top 10 cryptos according to market capitalization). LTC is currently trading around $61 (according to Bitfinex chart).


The overall cryptocurrency market is in a bullish momentum with sings of further gains. After a long bearish trend, cryptocurrency analysts are now believing that the bull market might be coming soon.

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Tom Lee: Bitcoin Bull Market Coming Soon



Tom Lee, the co-founder of Fundstrat Global has predicted that the price of bitcoin will likely experience a bullish run in the next 5 to 6 months.

Tom Lee, the co-founder of Fundstrat Global also known as the bitcoin bull has predicted that the price of bitcoin will likely experience a bullish run in the next 5 to 6 months. Lee predicted this during an interview with the CNBC. According to Lee, the 200 daily moving average is the number to keep in mind. If bitcoin is able to stay above $4000 till August this year, it will cross the 200 daily moving average and thus technically the overall chart would start to look bullish.

During the interview, he also mentioned that the future of bitcoin and other cryptocurrencies lies on the fact of whether it becomes an asset class and bitcoin is still in the early days of becoming one. Although Tom Lee has been quite bullish about the price of bitcoin, Fundstrat had recently posted a warning that the cryptocurrency market might crash to a new bottom before actually starting a bull run.


Tom Lee on JP Morgan Coin:

In the interview, Lee also expressed his concerns regarding the recently launched JP Morgan Coin which is a stablecoin launched by the banking giant JP Morgan Chase. He said that things such as the JP Morgan Coin and Facebook Coin create use cases for cryptocurrencies and according to him, the JPM Coin is surely not a competitor to bitcoin as it is a stablecoin in nature.

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Alert: Bitcoin Breaks Record, Highest Hash Rate Since November 2018.



The hash rate of bitcoin which is the power that secures the bitcoin network has recorded the highest level yesterday (19th March) since last year November.  The Bitcoin hash rate passed over fifty-two quintillion hash per second in accordance with the data feed on


Bitcoin Hash Rate:

Bitcoin hash rate is the computation of the performance of bitcoin miners. In simpler terms, as the hash rate goes higher, the bitcoin network becomes more secure. It becomes more difficult to attack the bitcoin network as an attacker would need increased resources in order to attack the network. The increasing hash rate also depicts the increase in the number of bitcoin miners. As the BTC mining difficulty level is quite stable now, more and more miners are joining the bitcoin network. Although, the increasing hash rate would eventually result in an increase in the overall difficulty level.

bitcoin hash rate 19th march

Bitcoin hash rate 19th March 2019


The bitcoin network security is at its peak since November last year. The highest hash rate ever recorded has been around 62 quintillion hash per second in August last year. Looking at the current chart, it depicts that the hash rate might even cross this level in the coming time.


The increased hash rate also builds up confidence in the minds of the miners as it shows the overall security of the bitcoin network and thus predicting a secure future of the investment of the miners. Thus, overall, more and more miners are now joining the bitcoin mining network after a subsequent decrease last year which led to a lot of miners moving out of the mining business. Bitcoin price analysts believe that the hash rate of the network follows the price of bitcoin as it helps them in speculating the future price of BTC.


During last year’s bear market, the hash rate also fell drastically which led to a lot of miners shutting down and the mining equipment were being sold at waste prices. Now as the hash rate is rising, miners are again turning on their mining rigs and moving back to business. It is also worth examining that the current hash rate of the network is even more than the recorded hash rate in December 2017 when the price of BTC went up to $20,000.

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