Bitwise Bitcoin ETF Decision set for May, BTC Prices Up 2.3 Percent

Bitcoin prices stable but bullish
Bitwise Bitcoin ETF application decision date put off to mid-May

The Simpsons Just Ran a Bitcoin Segment, and Crypto Twitter Is Raving About It
Sunday February 23, 2020

It’s happened: Bitcoin and cryptocurrency got their own segment, albeit brief, on The Simpsons — one of television’s most popular shows. Ever. So what exactly happened during that segment? And more importantly, how is...

The post The Simpsons Just Ran a Bitcoin Segment, and Crypto Twitter Is Raving About It appeared first on 12bitplay - Bitcoin Play.

It will be until mid-May when the US SEC decides on Bitwise Bitcoin ETF. Like the SolidX and VanEck application, this ETF is backed by Bitcoins secured by a third party custodian. Meanwhile, Bitcoin (BTC) prices are stable inside Mar-29 high-low as bulls build momentum towards $4,500.
Bitcoin Price Analysis
Fundamentals
For the second time, the US SEC is putting off their decision on whether Bitwise Bitcoin ETF application meets their requirement and ready for investors. By doing so, the asset management firm joins a long list of applicants including VanEck, SolidX, and CBoE a joint application which the community says stand a change of getting the green lights from the US regulator.
Submitting their file in January, the San Francisco firm plans to roll out a physically backed ETF and after 45 days, the SEC was supposed to make their decision tomorrow. However, the regulator says their decision will be made public in mid-May. Bitwise Bitcoin ETF will track the performance of the world’s largest digital asset from the Bitwise Bitcoin Total Return Index. The index draws prices from trusted cryptocurrency exchanges.
Differentiating itself, their Bitcoins will be stored in a cold wallet by an institutional grade third-party custodian for security and accountability purposes. Should the fund check all the requirements then the NYSE Arca shall list the ETF will Bitwise Index Services will be tasked with producing and servicing the world’s first Bitcoin ETF approved by the strict SEC.
Candlestick Arrangement

Ripple (XRP) Takes A Bit Hit But Here Is Why It Could Correct In Short-Term
Tuesday February 25, 2020

Ripple failed to stay above the $0.2740 support and extended its decline against the US Dollar. XRP price is currently testing the key $0.2650 support and it could correct higher Ripple price is down...

The post Ripple (XRP) Takes A Bit Hit But Here Is Why It Could Correct In Short-Term appeared first on 12bitplay - Bitcoin Play.

After weeks of lower lows, this week’s performance is encouraging. Not only will it close the week on a high, adding 2.3 percent but in line with our last BTC/USD trade plan, Bitcoin prices will for the first time closed above a five-month liquidation trend line.
In a typical bullish breakout, such will encourage participation now that prices are stable above $4,000. Besides, bulls of Mar 5 are now live. This is because of  Mar 27-29 upswings thrusting prices above Mar 16. As a result, our short-term longs are valid with targets at $4,500.
Technical Indicators
Despite these encouraging gains, Feb 24 losses are conspicuous. Once there is a high volume break above $4,500 reversing this slide, risk-averse can trade can begin ramping up. Accompanying this break above should be high volumes exceeding recent averages of 6.5k, Mar 29—8k and preferably Feb 18—37k.
Chart courtesy of Trading View
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Ethereum Close to Posting Long-Term Bottom as Analysts Eye Massive Upside
Wednesday February 26, 2020

Ethereum (ETH) has seen some intense bearish price action over the past couple of days, which has largely stemmed from the bear-favoring market structure that Bitcoin has formed in the time following its recent...

The post Ethereum Close to Posting Long-Term Bottom as Analysts Eye Massive Upside appeared first on 12bitplay - Bitcoin Play.

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