by Tyler Durden The previously discussed fears of an imminent "forking" in Bitcoin have led to the biggest drop in Bitcoin between Thursday and Saturday, as investors sold the digital currency on worries about its future, although it managed to regain some footing on Monday, rebounding back over $1,000.After soaring to an all-time high of $1,350 as recently as March 10 on speculation that regulators could approve the first U.S.bitcoin exchange traded fund the following day (the SEC denied the application but the negative impact was transitory), the digital currency then slipped back.The drop accelerated on Thursday and BTC hit a five-week low of $944.36 on Saturday.But bitcoin recovered a little on Sunday and built on those gains on Monday, climbing around 2.5 percent to roughly $1,050.As discussed over the weekend, the selloff was driven by a longstanding, and intensifying, row over whether - and how - to increase the capacity of the "blocks" that bitcoin transactions are processed in, so as to make sure there are no delays in transactions being finalised, which as of Sunday took as long as 4 months and the delay is growing ever faster, making a solution - even if unpalatable - inevitable.

"The bitcoin scaling debate is a risk for the network and highlights core issues in terms of governance and this is where more nimble crypto competitors see advantages in fleshing out their capabilities sooner," said Charles Hayter, CEO of digital currency analysis website Crytocompare, cited by Reuters.However, as Bitcoin's sun may be setting - if only for the time being - it is rapidly rising for some of its most key "cryptocurrency" competitors, chief among them: ether.bitcoin börse in deutschlandThe digital currency behind Ethereum - a project that some experts say holds more potential than bitcoin and which recently was supported by a consortium of corporations including JPM and IBM - tripled in value this month, jumping to record highs in the mid-$50 before retracing some of the dramatic gains and stabilizing in the $40 range.litecoin buy local

And while conventional capital markets may be experiencing a "great rotation" out of retail cash into ETFs as Reuters puts it, a similar dynamic was taking place in the cryptocoin realm: "some experts said traders were selling bitcoin and buying ether, which was exacerbating the falls in the original cryptocurrency."As Reuters reported, "traders in the space are looking for better returns in the more risky and nascent cryptos such as Dash, Monero and Ethereum (and are) looking to replicate the extraordinary returns that bitcoin saw in its early days," added Hayter.bitcoin legal frameworkMeanwhile, with the recent Chinese crackdown on bitcoin seemingly eliminating the possibility of using the cyrptocurrency to bypass China's capital controls, sending Chinese trading volumes to nominal levels, thereby removing one of the most rabid buyers of the legacy cryptocoin, the biggest losers may be the Winklevoss twins: the SEC dashed Cameron and Tyler Winklevoss's bitcoin ambitions earlier in the month by rejecting their application to list an exchange-traded fund linked to the digital currency.bitcoin next difficulty increase date

It remains to be seen if Ethereum and its altcoin peers can replicate the bitcoin move from 2013, when bitcoin went from double digits to over $1000 in the span of weeks.Advertise Jobs at BTCManager BITCOIN PRICE: 2,717.18 HIGH: 2,744.20 LOW: 2,660.50 BTC = USD #TRENDING STORIES Next Event Money 20/20 Europe • June 26-28, 2017 European-focused event on Fin-tech, providing an overlook of the disruptive ways in which consumers and businesses manage, spend and borrow… → BTCMANAGER TWITTER: TOTAL TWEETS: 3850 total FOLLOWERS: 16160 official hashtag:#BTCManager BTCMANAGER COIN ETF Denied, But BTC-USD Still Above $1000 The United States Securities and Exchange Commission (SEC) has denied an almost four-year old proposal for the first-ever bitcoin ETF.ghana bitcoin exchangeThe whole bitcoin and cryptocurrency world sat on the edge of it's seat on March 10 waiting for the U.S.bitcoin kaufen berlin

Securities and Exchange to make a decision on the Winklevoss twins' COIN ETF proposal.The SEC had been putting off the decision for years but the deadline had come.Bitcoiners were glued to their smartphones and computer screens the entire day, as the SEC took its sweet time to release the news.At about 4PM EST, the "Order Disapproving a Proposed Rule Change" was released, stating that the bid had been denied along with the reasons for disapproval.tiền ảo bitcoin tại việt namThe SEC ruled that two requirements were not met, stating, "The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter."bitcoin goes bust"First, the exchange must have surveillance sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity.tiền ảo bitcoin tại việt nam

And second, those markets must be regulated.Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated."Despite the predictions of a huge crash as a result of a SEC denial, bitcoin seems to be holding up well in the wake of the disappointing news.The price of bitcoin dropped to a low of $975 but quickly shot back up again.It seems that most Bitcoiners are taking this opportunity to buy up as much as they can at the "discounted price."Two other Bitcoin ETF proposals are in the works and still awaiting a decision.In January 2017, Grayscale Investments, LLC, a wholly-owned subsidiary of Digital Currency Group, filed for its Bitcoin Investment Trust to be listed with the NYSE.Additionally, In July of 2016 SolidX Partners Inc.also filed with the SEC to list an insured Bitcoin ETF on NYSE with the ticker "XBTC.""The Commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop.

Should such markets develop, the Commission could consider whether a bitcoin ETP would, based on the facts and circumstances then presented, be consistent with the requirements of the Exchange Act.” Altcoins also took a sharp hit on the announcement, however, ether, monero, and xem are a few examples of cryptocurrencies that have provided a hedge against bitcoin volatility., BTC-USD is down 7.73 percent on the day, whereas ETH-XBT, XMR-BTC, and XEM-BTC are up 20.76, 12.11 and 9.41 percent respectively.Selected crypto-markets, ~17:30 EST Despite all the attention, the ETF denial will soon be old news.As Bitcoin matures and growth continues, its sensitivity to trending media and isolated events should be reduced.The resilience of bitcoin’s price in the face of negative news, such as the Bitfinex hack in August 2016 or the PBoC inspections in early January 2017, has been nothing short of remarkable.This might not have been the decision that some bitcoiners wanted to hear, but many welcome the denial, preferring slow and steady growth to bubbles and volatility.