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BTC/USD Up +5.5%, U.S. SEC Head Jay Claiton Makes A Remark

By Shirley DavisCryptocurrencyFeb 14, 2020 11:13AM ET
www.investing.com/analysis/btcusd-up-55-us-sec-head-jay-claiton-makes-a-remark-200507635
BTC/USD Up +5.5%, U.S. SEC Head Jay Claiton Makes A Remark
By Shirley Davis   |  Feb 14, 2020 11:13AM ET
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Today’s Bitcoin market share plunged in the vicinity of some new multi-months low levels, therefore, igniting fresh new speculations about another festive altcoin season. Across the planet, regulators have made themselves very busy with researching brand new technologies to stay ahead.

The technical picture simply suggests that the Bitcoin may once again enter a range-bound movement just before facing another bullish tidal wave.

In other news, the cryptocurrency has had another of the chart week with sharp variations. Bitcoin has managed to gain a total value of +5% on a weekly basis and this not exactly the best result because many top tier altcoins registered solid amounts of double-digit gains. Moreover, XTZ is now close to a +33% height, ETH has also managed to jump by a value of +22% and BNB by +20%.

It comes in as no surprise that BTC influence dropped to a monthly low of 64.1%, but overall parameters have managed to hit the recent high points close to the 72% value on the 3rd of January, but since then it has been declining continuously across the chart.

This momentum has managed to prompt a wide array of tensed discussions about the upcoming altseason, however far some arguments may go it is more than clear that the decline towards 60% serves as a solid confirmation for this theory.

Significant Market Movements

For the time being the BTC/USD pair is trading in the close vicinity of $10,316 and so far it has gone upwards by a positive value of +5.5% daily, but it is clear that correction movement has been very short.The BTC/USD pair is expected to touch soon a new 2020 high level which would be in the proximity of the $10,385 value.At the same time, the ETH/USD pair is trading high in the proximity of $246.88 therefore it has gone upwards by a positive value of +12.15% daily. In other words the Ethereum backed away from the intra-day high place of $248.19 and for the time being, its intentions are suggesting that a solid bullish trend amid weak volatility might be just around the corner.The XRP/USD pair has managed to set up camp in the vicinity of $0.2880 after it has managed to jump towards $0.2917 during the debut of the Asian trading session, because of this spike the coin managed to gain a +6.5% value in the last 24 hours.As for the other relevant cryptocurrencies the best of the day are:

  • HBAR which has reached $0.0463, going upwards by +145.4%;
  • STX which is close to $0.2156 going upwards by+43.52%;
  • LUNA is now close to $0.3004 going up by +36.14%;
  • KICK is the lowest value today publishing a value of $0.00034 going downwards by -33%, therefore, being the only altcoin in red out of the top 100.

The Technical Vibes Of The Industry

It is now more than clear to us that many regulators and government officials all over the planet are diving in a lot deeper into the ocean of blockchain security innovations most of which are revolving around the non-programmable hardware devices such as PKI technology wallets. Devices like HASHWallet are precisely the type of technology that can give crypto holders straightforward command over their tokens but also enables them to be spent easily when demanded. It’s a good example of non-programmable device safety because nobody can modify the content stored on the wallet.

The Archos Safe-T Mini is yet another reliable example and it’s probably the most basic version of hardware wallets for altcoins, but it definitely is a great addition to the field because it’s fairly easy to set up and it offers a wide array of crypto support.

As a direct consequence, the Federal Reserve System (FRS) is deploying a significant amount of effort in researching the notion of central bank-issued digital currency as well as devising a new concept for the USDD (United States Digital Dollar).

FRS senior board member Lael Brainard stated that the central regulator needs to be ready to deal with a brand new type of money to ensure efficient and dynamic compliance of the existing payment networks.

It is imperative to mention that other central banks have also managed to confirm their active interest in this new concept and until now the only institution that has moved into a solid research stage is the Chinese People's Bank.

Across the ocean in the United States commissioner, Hester Pierce member of the Securities and Exchange Commission has made a very interesting statement, Hester Pierce is known to the world as the "Crypto Mom" mostly because of her dedicated attitude towards the cryptocurrency industry.

There is also a significant call to soften the necessities of token sales, which have been launched by blockchain and cryptocurrency startups.

The commissioner also believes that a large set of temporary exemptions will help the teams to raise money and life their projects to a new level much faster.

Voices within the US SEC say that chances of approval are still very small and the head of the SEC Jay Claiton has another view on the matter at hand slightly different than “Crypto Mom” has. At any rate market, analysts find this news remarkably positive signals and the BTC rates have reacted accordingly.

BTC/USD Up +5.5%, U.S. SEC Head Jay Claiton Makes A Remark
 

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BTC/USD Up +5.5%, U.S. SEC Head Jay Claiton Makes A Remark

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Comments (4)
Mojtaba pooya
Mojtaba pooya Feb 28, 2021 6:13AM ET
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ur suggestion 4 long (buying) 4 this week ur main indicator for swingplz answer me
Mojtaba pooya
Mojtaba pooya Feb 28, 2021 6:09AM ET
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hi ur annalise is good I hop BTC&BNB touch their first price ur forcast on DOGE plz
meysam arjmand
meysam arjmand Feb 11, 2021 5:48PM ET
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hihow are u?
Anthony Mcclain
Anthony Mcclain May 24, 2020 8:42PM ET
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thoughts on omisego?
Maahir Jimcaale
Maahir Jimcaale May 24, 2020 8:42PM ET
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all good morning I want help
 
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