Crypto News
Bitcoin Accumulation And Distribution: Which Cohort Is Taking Part In What
Bitcoin Price Resumes Increase Towards $25K
The Bitcoin price has been increasing since the first days of December 2020 and has been trading in an uptrend above the $23,000 mark. The digital currency has broken several resistance levels and is now trading above the $24,000 mark. In the past 24 hours, the price has increased by 1.2%.
At the time of writing, Bitcoin is trading at $24,543 with a market cap of $452 billion. The 24-hour trading volume has also increased and is now at $31 billion. The next resistance is at the $25,000 level.
Analysts have predicted that the digital currency could continue to rise and reach the $25,000 level in the coming days. The digital currency is currently trading below its all-time high of $24,800, which it reached on December 17. It is likely that the price will continue to increase towards the $25,000 level.
In the past week, the digital currency has seen some volatility due to the news that the US Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple Labs, the company behind XRP. The news has had a negative impact on the digital currency, but it is expected to recover soon.
The digital currency is now trading in an uptrend and is expected to continue to increase in the coming days. Analysts believe that the digital currency could reach the $25,000 level in the near future. However, traders should be cautious as the digital currency is still in a volatile phase.
Conclusion
The Bitcoin price is trading in an uptrend and is expected to continue to increase towards the $25,000 level in the near future. Despite the negative news surrounding Ripple Labs and XRP, the digital currency is still in an uptrend and could reach the $25,000 level soon. Traders should be cautious, however, as the digital currency is still in a volatile phase.
#Bitcoin #BTC #Cryptocurrency #XRP
The post Bitcoin Accumulation And Distribution: Which Cohort Is Taking Part In What first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
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