- Business Insider – Bitcoin is getting close to its all-time high after the SEC says it will reconsider the Winklevoss ETF
Bitcoin is closing in on a record high after the US Securities and Exchange Commission has approved Bats Exchange’s pettition to reconsider the Winklevoss bitcoin ETF. The cryptocurrency was trading up 2.1% at $1,281.76 a coin as of 1:57 p.m. ET, and on track to top its record-high close of $1277.65 set on March 6. - MarketWatch –Bitcoin carries digital-currency market capitalization past $30 billion
The combined market capitalization of all cryptocurrencies late Monday surpassed $30 billion for the first time, according to digital currency tracking website Coin Market Cap. That means the size of the nascent digital currency market is now worth more than twice the value of Twitter Inc and is equal to nearly half the market capitalization of Netflix Inc.
Comment
China has begun to loosen its grip on capital flows, but the measures the PBOC put in place to limit trading in Bitcoin are as potent as ever. Bitcoin volume was decimated after the Chinese government began to tighten regulations on exchanges. It has not recovered.
The Chinese yuan’s share of Bitcoin volume crashed as well. Once dominant with 99% of trading volume, the yuan’s share of the vastly diminished volume is under 20%.