• Recent legal charges filed by the SEC against Binance and Coinbase Global have sparked a debate surrounding crypto assets’ regulation under US securities law.
• Bitcoin miners have observed an increase in liquidation rates, but BTC’s price has consistently traded above the 200-week moving average (WMA).
• Cathie Wood and her investment firm Ark Invest remain undeterred by the charges, having doubled down on their crypto investments.
Bitcoin Price Might Surge 60% By July End
Recent legal charges filed by the United States Securities and Exchange Commission (SEC) against two prominent cryptocurrency platforms – Binance and Coinbase Global – have intensified the ongoing debate surrounding the regulation of crypto assets under US securities law. The bearish sentiment within the industry has further been exacerbated due to an increase in liquidation rates observed among Bitcoin miners. However, despite all this, Bitcoin’s price has consistently traded above its 200-week moving average (WMA) since mid-March this year. Now that it is approaching critical levels, it is poised to undergo either a long or short breakout, with one prominent analyst predicting that it could surge up to 60% from its current levels and reach $40,000 by July end.
Cathie Wood’s Ark Invest Doubles Down on Crypto Investments
Cathie Wood and her investment fund Ark Invest seem unfazed by the recent charges brought forth by the SEC as they have doubled down on their crypto investments. In fact, they now hold a significant stake in Coinbase Global – owning 420,000 shares following a recent purchase of 22 million shares. Furthermore, even though it was responsible for seizing substantial amounts of Bitcoin through operations such as Silk Road takedowns in 2011-2013, US government involvement with cryptocurrencies continues to grow over time.
• The legal charges filed by SEC against Binance and Coinbase Global have sparked discussions about crypto asset regulations under US securities law.
• Despite bearish sentiment within industry due to increased liquidation rates amongst Bitcoin miners, BTC’s price has consistently traded above its 200-week moving average (WMA). • Cathie Wood and her investment firm Ark Invest remain undeterred by SEC charges as they continue doubling down on their crypto investments.
The future of cryptocurrencies remains uncertain amidst ongoing debates regarding their regulatory framework under US securities laws; however investors like Cathie Wood appear confident about their potential for growth regardless of this turbulence. As such we will likely see more institutional players enter this space over time which could propel prices higher if accompanied with positive market sentiment