Bitcoin Price Prediction as $10 Billion Trading Volume Comes In To Hold $30,000 Level – Where is BTC Going Next?
As Bitcoin's trading volume reaches $10 billion, the cryptocurrency stands firm at the $30,000 level, sparking discussions about its next move.
Currently trading at around $29,900 with a less than 0.10% increase on Saturday, Bitcoin remains a subject of interest for investors and traders alike.
Alongside this, the SEC's request for additional funding to address risks and fraud in the crypto market adds further intrigue to the future direction of BTC.
With these factors in play, the question on everyone's mind is: where is Bitcoin headed next?
Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), has urged Congress for additional financing to tackle "risks in the crypto markets."
He emphasized the need to address noncompliance and protect investors from the speculative nature of the cryptocurrency markets, which he called the "Wild West" of finance.
By allocating more resources, the SEC aims to enhance the Division's capabilities in addressing vulnerabilities in the cryptocurrency markets, cyber and information security, and the resilience of critical market infrastructure.
This step is seen as crucial in safeguarding American families and investors who have put their hard-earned assets at risk in the highly volatile cryptocurrency space.
However, Gensler has faced criticism for his enforcement-focused approach toward the cryptocurrency industry. He considers most cryptocurrency tokens, except for Bitcoin, as securities.
The recent decision by the Southern District of New York's district court, which ruled that XRP is not a security, has further added to the ongoing debates and challenges in regulating the crypto market.
The SEC expressed disappointment over this decision, citing concerns about its
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