Bitcoin Price and Ethereum Prediction: Weekend Breakout Possible Amidst Choppy Market Conditions
The cryptocurrency market has been experiencing a choppy session lately, with both Bitcoin and Ethereum struggling to break out of their current price range. Investors and traders are closely monitoring the market for any signs of a potential breakout during the upcoming weekend.
Bitcoin (BTC), the world's largest cryptocurrency, failed to extend its upward rally and lost some ground today, possibly due to ongoing regulatory scrutiny in the cryptocurrency sector.
Evidence of this can be seen in the increasing stringency of US regulators towards companies dealing with cryptocurrency.
The SEC has recently issued a warning to one of the companies, Coinbase, stating that they may face legal action.
Bitcoin and other cryptocurrency values have been growing as a result of several different factors and have surged considerably this year. BTC is now on its way to $30,000, a level not seen since June. BTC price has climbed by nearly 70% this year.
However, the reason for its dramatic upticks might be attributed to people's declining trust in traditional banks as a result of recent bank collapses and concerns about their viability.
As a result, some investors are turning to bitcoin as a safe-haven asset. This indicates that bitcoin performs differently than stocks and other assets amid market volatility.
On the other hand, regulators in the United States are cracking down on cryptocurrency exchanges such as Coinbase. This was confirmed after the SEC warned Coinbase that they might face legal action, and they also issued an investor alert about the risks of investing in cryptocurrency.
In the meantime, the SEC has also charged Tron's creator and other celebrities with securities fraud.
In addition, a cofounder of Terraform Labs was
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