Please correct me if I’m wrong, it appears the big cryptocurrency investors are awaiting the results of this big hearing on Tuesday, am I right?
Depending on how the US Security and Exchange Commission and the Commodity Futures Trading Commission, vote on February 6 in regards to their “oversight roles”, determines whether or not investors will feel safe continuing to put their money in Bitcoin, Etherium, EOS and even Steem.
Will they allow ICO’s to continue gather investors prior to their launch?
It appears a few bad apples has put cryptocurrency in the worldwide spotlight and the financial “powers that be” want to talk about how they’re going to protect potential investors.
Depending on what they propose and what decisions they make on regulation, it will directly effect the market this week and beyond. In addition, it will also set the tone for how other countries will proceed. This appears to be a global debate and their are a lot of countries on the fence about what to do.
This is why there has been so much instability in the markets.
http://www.coindesk.com/sec-cftc-chiefs-set-senate-crypto-hearing-next-week/amp/
https://cointelegraph.com/news/us-sec-cftc-to-focus-100-on-crypto-in-dedicated-hearing-next-week
On the other hand, if these meetings go well and I’m not entirely sure what that would look like or how likely it is, markets will take off again. It will mean, in all systems go green light for everyone to resume their normal day to day trading and holdings.
It really does feel like there’s a lot hanging in the ballads right now and it’s a bit unnerving as the markets clearly show.
Tuesday is the day to really pay attention...as for me..I’ll be holding my breath just a little bit.. all we really can do at this point is wait and see.
Great post, thank you for the info, I will be watching
I forgot to say upvoted 100% and RE steemed:-)
Hopefully, the decision will be in favor of crypto traders. You are right the market has gone down significantly due to the uncertain scenarios.