The price of Bitcoin exceeds $24,000; Where is BTC headed next?
Bitcoin (BTC), the world’s oldest and most valuable digital currency, once again experienced a significant price increase and crossed the $24,000 mark. This recent price increase has caught the attention of investors and traders around the world, and many are wondering what the next target level for Bitcoin could be. But before looking into this, let’s take a quick look at some important industry news.
According to Valx and quoted by CryptoNews, the United States Securities and Exchange Commission (SEC) has once again emphasized its efforts to protect investors and ensure compliance of various digital currency projects with federal securities laws.
The SEC’s list of priorities released on February 7 lists “emerging technologies and crypto-assets” as a key area of focus for the agency. This focus will primarily be on brokerage/brokers and registered investment advisors (RIAs).
Another important news was the 30 million dollar financial fine of the Kraken exchange by the SEC. This exchange was sentenced to pay a 30 million dollar fine for providing financial services without a license and stopped offering its “digital currency stick” service to American customers.
Gary Gensler, the head of the Securities and Exchange Commission, stressed that intermediaries must meet the criteria and information specified by the securities laws before offering investment contracts to customers in exchange for tokens, whether through staking, lending or in another form. and get permission from this institution.
Kraken is not the only cryptocurrency company that has caught the SEC’s wrath. In January of this year, the agency fined Nexo $22.5 million for offering cryptocurrency lending services. Nexo, like Kraken, agreed to stop this service to American customers.
As regulatory frameworks continue to change, it is critical for companies operating in the crypto industry to stay abreast of the latest developments and avoid potential fines and reputational damage.
Let’s go back to Bitcoin price developments:
The current price of Bitcoin is $24,672. The trading volume of this currency in the last 24 hours has reached 38 billion dollars, which shows a 3% increase compared to the previous day.
Bitcoin analysis shows that after price support at the 50% level of the Fibonacci indicator around the price of $23,325, the upward trend resumed. As the price candle closed above this range after the first correction, positive market sentiments were reinforced.
The next major price hurdle seems to be at the $25,300 level. If we see a bullish crossover above this level, the price may rise to $26,000.
The 50-day moving average also promises the possibility of a continuation of the rise. Investors looking to take advantage of this position can look at the $24,250 level as an entry point.
The text of the price of Bitcoin passing from $24,000; Where is BTC headed next? The first time in the blog Valx. appeared.