Is this the start of a major decline in Bitcoin? We have just received word that suggests this may be the case. Dashing years of hopes, the SEC has rejected the Winklevoss Bitcoin ETF (Pending:COIN).

Near $1,300 ahead of the announcement, the price of bitcoin has plunged to under $1,100. Folks that is a $200 drop in just a few minutes. You may recall bitcoin surpassed the price of an ounce per gold for the first time recently.