Exciting <a href="https://en.ethereumworldnews.com/bitcoin-crash-8000-market-not-ready-etf/">events</a> took place last week. Bitcoin ETF is the first company that comes to mind VanEck SolidX withdrew its application. The long-term application was postponed 6 months in the year. This withdrawal of 1 month before the decision was made left question marks on the head.

First, it is believed that VanEck has withdrawn its application because the market is not mature enough. Because it has not yet made an official statement.

Application of decentralized finance based on Ethereum Compound general advisor Jake chervinsky of the same opinion In his tweet, he stated that Bitcoin this week justified people who kept their reservations about the market.

According to Chervinsky, Bitcoin <a href="https://www.cryptoknowmics.com/crypto/the-descending-triangle-is-broken-but-the-bitcoin-macrostructure-continues-to-increase/">depreciated</a> 20% over several days without any known justification. Most trading volumes take place on stock exchanges established in tax havens called offshores. The regulated rate of the stock market is meager. It would be naïve to think that the SEC would reward such a market.

In July, Dorman reported: The high volatility value in June and the subsequent collapse appear to have reduced Bitcoin's ETF prospects.

Bitcoin and volatility
Bitcoin's price movement is highly irrational and unpredictable. The following lines of the report:

"It is almost certain that the ETF will not be approved. Because 14 meets the day and earns a value of 81%, then no one can vouch for an asset that crashes like a madman. Besides, there are usually large price movements outside U.S. working hours. So the people of the United States are not the subject of this equation, but the object. Therefore, the United States regulator, the SEC, will not take any affirmative action".

Bitcoin saw the 10,050 highest dollars in September. The day after 3, today, 7700 decreased to the dollar. This is a significant drop of 23. We are faced with a rare kind of destruction in the history of Bitcoin. It's not the decline or the ascent that matters. What matters is volatility. In other words, assets with high price volatility are not considered safe. This is one of the main problems Bitcoin has faced since its first launch.

Bitcoin decline shows that the market is not ready for ETF

I am an industrial engineer specializing in blockchain. Enthusiast of cryptocurrencies and writing the latest news regarding the Crypto world.

Bitcoin decline shows that the market is not ready for ETF

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