How did cryptocurrencies start a new day?
Although the leading cryptocurrency Bitcoin (BTC) started the day with a slight recovery, it can be stated that the overall market outlook is unstable.
06/10/2021
We have left behind a week of severe downturns in the cryptocurrency market, and bitcoins and altcoins have not yet healed their wounds. Although the leading cryptocurrency Bitcoin (BTC) started the day with a slight recovery, it can be stated that the overall market outlook is unstable. Click here for more information on cryptocurrency or to contact a crypto prime brokerage.
Bitcoin over $ 45,000.
● Bitcoin dropped $ 9,000 in minutes last Tuesday, testing the $ 43,000 limit and then spending a week in the $ 47,700 to $ 43,500 range.
● At the time of writing, it looked like BTC, which is trading above $ 45,000, is struggling to maintain this important level.
Many analysts of SafeTrading were waiting for a correction after Bitcoin's uptrend hit $ 53,000. Thus, it was expected that after the correction there will be a consolidation process. After this correction, the price is expected to start a new rally and first break the psychological level of $ 50,000. It is stated that after $ 50,000, an increase will begin a new record for crypto signals.
The last situation with altcoins.
When Bitcoin turns green, it can be said that
there are some upward movements in altcoins.
Ethereum has gained about 1% in the last 24
hours and is trading at $ 3294.
In
addition, it can be seen that some altcoins are
still in the red and the market remains
undecided. For example; It can be stated that
while Dogecoin (DOGE) is progressing with a
decline of 1.50%, Chainlink (LINK) is trading
with a decline of 2.50% - expert of SafeTrading.
When does growth begin?
● To start cryptocurrency growth, the leading cryptocurrency Bitcoin must first clarify the upward trend. To do this, $ 45,000 must turn into support again, and the $ 47,000 resistance must be overcome.
● Therefore, at the moment, we can say that the names of the experts are focused on the movement of BTC. After Bitcoin rallies, there will also be upward movements in altcoins.
● The information contained in this article is not investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk and should carry out their transactions according to their own research of crypto signals.
SEC Chairman Warns Cryptocurrency Exchanges!
Chairman Gensler made a new statement on the cryptocurrency exchange. By arguing that exchanges should strengthen their engagement with the SEC, Gensler could signal future rules. Specifically, the SEC is expected to announce comprehensive rules in the first quarter of 2022. US politicians continue to push for regulation of the cryptocurrency ecosystem.
SEC Statement.
Following Coinbase's "threat" statement, the
Securities and Exchange Commission chairman
demanded "closer engagement." If you recall,
Coinbase received an approval from an
institution for a new product and was rejected.
The largest US exchange, which presented this
situation as a threat, said that it will
continue to closely communicate.
In
particular, the pressure that the
Binance stock
market is experiencing globally has prompted
many of its competitors to take more cautious
steps. Moreover, we still have an unsolved
Ripple case. In contrast, no crypto start-up
wants to set national regulators specifically
against the SEC.
Ripple and other litigation.
The SEC has filed many cryptocurrency-related
lawsuits. Most of the lawsuits filed resulted in
fines. Social media influencers touting
cryptocurrency, a G-dollar lawsuit and more have
been decided in favor of the institution.
However, the fact that the current regulations
do not fully cover the ecosystem puts the SEC in
a quandary.
The most striking example of
this is the case of Ripple, it is vitally
important whether a cryptocurrency is a
security, and if it is not, the SEC cannot
intervene. To turn things around in their favor,
lawyers at Ripple Labs are investigating the
issue of "securities" and asking how they differ
from Bitcoin and Ethereum. The ongoing
litigation is also likely to have a big impact
on the regulations that will be passed by the
SEC, with the agency having amassed significant
experience in just a few months.
● The Securities and Exchange Commission, which has been unable to take radical steps despite strong pressure from US senators, wants to expand its expertise at this stage.
● The "communication" statement that came in the evening confirms this.
● Once the institution has the necessary data and experience, it can issue a flawless regulation.
● Moreover, he will not repeat his inexperience in the Ripple case.
● If you remember, SEC members who had grown old as "experts" were constantly brought to hearings.
In the near future, exchanges may witness very serious rules regarding cryptocurrencies and stablecoins, which can be considered as securities. This news will certainly have an impact on the markets.
Visa CEO Statement on Cryptocurrency.
Although cryptocurrencies have been present
in our lives for a little over ten years, they
soon gained immense popularity in the public
eye. The total value of cryptocurrencies exceeds
$ 2 trillion, beating major companies such as
Apple and Microsoft. In recent years,
cryptocurrency adoption has followed the same
trend. According to estimates of the number of
people investing in cryptocurrency, just under
10% of the world's population invests in
cryptocurrency.
Comparing the development
of a revolutionary technology such as the
Internet and the development of cryptocurrency
shows that cryptocurrency will become mainstream
in the next five years. With this in mind,
payment companies such as Visa, PayPal, and
MasterCard have developed cryptographic
strategies to stay at the forefront of this new
payment method. The giants undoubtedly believe
in the future of cryptocurrencies, which gives
them enough motivation to develop their platform
to support these digital assets.
In recent years,
Visa has taken strategic steps towards
supporting crypto and blockchain. If
cryptocurrencies become as popular as everyone
expects, Visa is pretty sure it wants to be in
the spotlight, according to SafeTrading
analysis.
Crypto could go mainstream in five years.
CEO Alfred Kelly joined the Leadership Next
podcast with Fortune CEO Alan Murray to discuss
the future of cryptocurrencies. Kelly expressed
his thoughts on where cryptocurrencies might be
in the next five years. According to the CEO,
cryptocurrency could become "extremely popular."
Kelly, on the other hand, believes that
cryptocurrencies can be both very successful and
completely fail. Kelly explained that while the
cryptocurrency isn't going anywhere, Visa always
wants to be one step ahead. Kelly told Murray,
“My favorite part of our company is Alan; We do
not choose winners and losers, ”he said.
Kelly on what could
happen to cryptocurrency in the next five years;
“I don't know how high cryptocurrencies will
grow. In five years, will it remain a
fashionable pursuit, become something trivial,
or become extremely popular? “I'm not smart
enough to know this, but what I'm smart enough
to do is make sure our company is in the middle
of it no matter what. "