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“We would likely still start Q4 near the lows as optimism on the spot ETF again fade into the backdrop with more can-kicking from the SEC side, and lack of innovation in the sector as compared to other tech sectors,” the firm said, adding that a glut of supply expected next month, from a payout to creditors of the failed Mt Gox bitcoin exchange, “will provide short-term bearish flow pressure to come.”
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