December 6, 2022

1businessguide

1businessguide

Buyers have been activated on the crypto market

 

Bitcoin has a favorable second half of the week. A downward correction has begun for the dollar. Gold rose by $40 to $1,764. The BTC/USD pair jumped from a low of $40753 by 17% to $47786, including today’s trading. Technically, the pair was ready to grow. The trigger could be the head of the US Federal Reserve Jerome Powell.

Answering a direct question about cryptocurrency, Powell said that the United States does not plan to ban cryptocurrencies, but considers it necessary to tighten control over stablecoins. He spoke at a meeting of the House Financial Services Committee with the participation of Treasury Secretary Janet Yellen.

If the SEC and the US Federal Reserve have paid attention to the stablecoins, it means that they pose a real threat to the financial stability of the US, but the cryptocurrency does not. USDt dominance decreased from 3.72% to 3.28%. There is a flow of capital into the crypt.

The head of the US Securities and Exchange Commission, Gary Gensler, confirmed that the regulator will approve bitcoin ETFs, which will be based on futures traded on CME and comply with the Investment Companies Act of 1940.

On Friday, the Securities and Exchange Commission (SEC) extended the deadline for four funds (Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF) traded on the Bitcoin exchange (ETF) by 45 days, citing the need for additional time to decide whether to accept applications.

We’ll believe it.

President Joe Biden on Thursday signed a nine-week funding bill that prevents a government shutdown. The pressure was reduced, but the threat of a US default related to the debt limit was not eliminated.

At the time of writing the review, bitcoin costs $47610. The formation from September 15 becomes “bullish”. Buyers have to gain a foothold above $49 thousand to continue the recovery to $ 53 thousand. The push is strong, so the price can rise non-stop to $ 50 thousand.