![]() ![]() “With persistent interest rate hikes, weakness in the banking sector and debt ceiling concerns, investors see bitcoin now more than ever as a sovereign, safe haven asset that has held strong and steady in the face of market uncertainty,” Adelman says. banking crisis in early 2023 also fueled fears about the safety of the traditional banking system, pushing bitcoin prices above $30,000 in April 2023 for the first time in nearly a year.īitcoin investors have mostly ignored the regulatory crackdown on crypto exchanges, and rightfully so.Īlex Adelman, CEO and co-founder of bitcoin rewards app Lolli, says bitcoin is unique compared to other cryptocurrencies because the SEC has repeatedly made it clear bitcoin is not a security and is therefore not subject to SEC regulations. Will bitcoin rise in 2023?Įasing inflation data, the BlackRock ETF filing and the Federal Reserve pausing interest rate hikes in June have catalyzed an aggressive rally in bitcoin prices this year. Open an account with Bitcoin IRA in only 3 minutes. exchange.Ĭurrently, the SEC has delayed making a decision on all of the spot bitcoin ETFs applications until at least October. ![]() But its outlook for the remainder of the year will likely be determined by the path of monetary policy, additional clarity on crypto regulations and whether or not the Securities and Exchange Commission approves the first bitcoin spot ETF to ever trade on a major U.S. The popular crypto is up more than 50% year to date. Securities and Exchange Commission charged Coinbase with conducting unregistered securities sales and charged Binance.US with 13 counts of securities law violations.īitcoin has a history of unpredictability and extreme volatility, and 2023 appears to be no exception. In addition to BlackRock’s ETF filing, a consortium of Wall Street trading firms led by Charles Schwab, Citadel Securities and others, recently launched EDX Markets - a new crypto exchange aiming to compete with Coinbase and other leading U.S. After a big 2023 rally, bitcoin (BTC) prices are back at around $25,000.īitcoin bulls say fears over contagion among crypto lenders and exchanges that fueled crypto winter in 2022 have finally subsided, and BlackRock’s recent filing for a bitcoin spot exchange-traded fund, or ETF, is an indicator that institutional interest in crypto may once again be on the rise.īut bitcoin bears are cautious about the world’s most valuable crypto, given interest rates may continue to rise and regulatory crackdowns on cryptocurrency exchanges may limit access for investors.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |