US Shutdown Means Bitcoin ETF Could Go Live Soon

u.s. shut down means Bitcoin etf could go live soon hey there guys it's mark with crypto daily before we go into today's topic make sure that you're subscribed to our channel as well as visit crypto daily co uk for the latest market blockchain encrypting news well and don't forget that I'm now your financial advisor so this would not be an investment advice if you are planning to invest make sure you do your own research and always trade safe now let's take a quick look at the markets Bitcoin started last week at a price of 3.5 K and then immediately went up to 3.7 State for a little bit and then crash back down on January 16 to 3.6 where it pretty much stayed in that 3.6 range up to January 19th where it had another spike up to three point seven and a half this time that didn't last long only for 24 hours and it crashed back down to three point five that's where it currently resides with minus four point thirty five percent in the last 24 hours a market cap of sixty-two point four billion ranking number one of course XRP started last week at 32 cents immediately went up to 33 cents and then had a slow decline since then all the way up to January 19 to 32 cents another spike happened before the 20th it actually almost reached 33 cents and then going back down once again just recently to 31 cents that that's where it currently resides minus three point 51% in the last 24 hours a market cap of 13 billion still ranking number 2 if they aren't following the trend of Bitcoin and XRP start the weekend hundred eighteen dollars immediately went up to about $130 and then crashed closer to January 16th $220 stay pretty much in that range all the way up to January 19th and then another spike occurred on that date which guided $225 but then a slow steady decline with a rapid decrease after jaynie January 20th $219 and 55 cents that's where it currently pretty much resides with the new price of 117 dollars and 28 cents -5 point 59 percent in the last 24 hours a market cap of when two billion ranking number three Bitcoin cash started the week at $125 47 cents had an immediate increase 236 to $2 96 cents slowly decreasing from that point all the way up to January 19th with another little upward movement two hundred thirty one dollars and twenty seven cents but then another crash just recently $223 is 61 cents currently it has the price of one hundred twenty two dollars and thirteen cents minus five point 57 percent in the last 24 hours a market cap of 2.1 billion ranking number for us started last week at two dollars and thirty cents had an rapid increase to 248 and stayed pretty much in that range all the way up to January 17th of two dollars and forty four cents and then on that date it had another increase to 249 stayed in that range until January 19th and then another upward movement to 252 however recently it crashed all the way down to 235 and the current price being 234 minus 5% in the last 24 hours in a market cap with 2.1 billion ranking number five now you see the markets are down at the moment the cryptic community believes that this dip is the result of the delay of the etherium hard fork which is known to be constant to nobble now the etherium team has been delaying this hard for a number of times so hence the result the united states government are in the midst of a historical shutdown one that has continued for over thirty days now shutdowns within the united states government are not that bizarre as you might think they are pretty much commonplace for the US politics however this time the shutdown has continued for a historical length of time with no view to when it might come to an end what does the shutdown entail the shutdown does what it says on the 10th the government has shut down therefore nobody is working the government and its staff are not at work and nobody's making decisions as a matter of fact even the government's catering team is in a shutdown leavin Donald Trump to purchase McDonald's for the visiting college football team because there was just nobody to cook for them now this comes to a question why has the government shutdown according to CNN congressional lawmakers and president Donald Trump failed to come up with an agreement to fund the parts of the government on Saturday after funding for roughly a quarter of the government ran out on Friday night at midnight and more recent coverage of the story a White House official said using funds from civil asset forfeiture is one of several ideas the White House is considered as administration officials search for options that could allow President Trump to fund construction of his border wall if lawmakers don't reach a deal the official confirmed the White House has also looked into diverting disaster relief funds but no decision has been made as to what Trump might do to bypass Congress for wall money if anything at all Trump said today he would like to avoid declaring a national emergency right now as he called in Congress to do his job this seems to be a never-ending battle nobody really knows what to do next however we believe that some time and somehow Trump will get his own way while all this continues there are big implications for the Bitcoin ETF deadline big implications that we should all consider simply because if the shutdown continues then the veneks solid ex Bitcoin ETF could reap automatic approval during the shutdown SEC are also affected as it stands based on their most recent statement the deadline for the ETF approval is set for February 27 2019 as a direct result of the current shutdown the SEC are unable to apply to extend that deadline according to Bitcoin comm jake chair vince key a prolific lawyer in the united states has stated the sec doesn't have the power to extend the 240 day deadline the statue absolutely prohibits any further delays by law that means if the SEC fails to make a decision by the February 27 deadline the ETF will be automatically approved we should consider though that during this shutdown the SEC have not fully cease their operations therefore even on a surface level they might be discussing the legality and the processes of a Bitcoin ETF they will make a decision if they aren't able to extend their deadline because if they simply don't then the veneks solid eggs Bitcoin ETF will be automatically approved this in turn would make a laughingstock of the entire approval process one that has been going on for many months now chevensky has added in fact the SEC has already taken action during the shutdown to avoid missing deadlines on the proposed rule changes the SEC has a skeleton crew handling proposed rule changes during shut down it isn't unlikely to stay in effect for long automatic approval isn't a lifetime guarantee and can be undone easily on the shutdown ends the sec can just force the etf to be delisting sure Pinsky believes that the sec are still working on this and if the shutdown continues they will make a decision automatic approval is very unlikely but in a sense it is very possible moreover we have to consider that this shutdown might not go on long enough for the SEC to require a deadline extension though we believe if it does go on any longer assuming it ends in time for the SEC to apply for an extension they will if we see Bitcoin ETF approved as a result of this then finally we might see some green sweeps through the markets this whole shutdown saga in reference to the SEC is one that's to keep an eye on for now if we start to see signs that an automatic approval is looming then get ready firstsearch it's hard to predict what might happen here therefore hold on and watch closely ok this is a quick reminder for our theorem giveaway we're giving away four aetherium on January 31st 2019 and all you need to do is click on the link in the description to be taken to this page where you can sign up and start earning points by sharing our content on your social media and commenting on our videos the more points you earn the bigger the chances that you will win those four aetherium on January 31st 2019 as you can see there's not a lot of time left so go ahead and get started right now if you liked the video give us a thumbs up and comment down below we would like to hear your opinions don't forget to subscribe for future videos as well as visit krypter daily code at UK and we will see you tomorrow

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