Bitcoin Price Prediction: BTC Sets New Record for 2023 – Here’s where it’s headed Now
The bullish outlook for Bitcoin’s future price prediction is evident during the US trading session. Bitcoin has recovered from its support level at $23,300. Over the last few days, Bitcoin’s price has been experiencing a rollercoaster ride with large price jumps and steep drops.
In the midst of regulatory actions by SEC, Binance CEO refutes claims that USDC will be delisted
Binance, the largest cryptocurrency exchange with trades, is said to be considering cutting ties with US business partners. A recent report from Binance claims that the exchange has cut ties with its US business partners. Report Bloomberg reports that Binance may delist tokens from all US-based firms due to the recent regulatory crackdown by the Securities Exchange Commission (SEC).
Binance is one of many exchanges that are reviewing their policies and procedures in order to comply with regulatory requirements, as the SEC has been paying more attention the crypto industry.
The relationship between the US regulatory body and exchanges has become more complicated and uncertain since the Securities and Exchange Commission (SEC), which declared that BUSD, a stablecoin linked to the US dollar was a security, sued Paxos.
Binance is said to be reevaluating its US investments due to these developments. Binance.US is Binance’s subsidiary. Binance.US is Binance.
Binance is one of many cryptocurrency exchanges facing increasing regulatory pressures. They are currently reviewing their operations and looking at possible changes to their business models to ensure compliance with US regulations.
Binance CEO Responds Quickly to Allegations
Changpeng Zhao (CZ), Binance’s CEO, responded to the allegations by taking to Twitter to refute the claims. CZ replied to the comment via social media, saying:
Changpeng Zhao (Binance’s CEO) has been embroiled in controversy. A Reuters Report It was revealed that Binance transferred $400 Million from a secret account associated with Binance.US to a trading company owned by CZ, Merit Peak.
The British Virgin Islands incorporation of the firm was in 2019. It had previously invested more than $1 million in Binance, its U.S. subsidiary. Silvergate Bank, a crypto-friendly bank, was responsible for the transaction.
SEC Alleges Terraform Labs CEO Transferred 10K Bitcoin after Collapse
Terraform Labs founder Do Kwon and Terraform Labs have been sued by the SEC. They are accused of transferring Bitcoin worth millions to a Swiss bank account following the company’s May collapse. This lawsuit also includes charges for the sale of unregistered securities.
According to the defendants, they are accused of moving over 10,000 Bitcoin from Terraform Guard accounts and Luna Foundation Guard accounts to un-hosted wallets outside of exchange platforms.
Terraform and Kwon have allegedly transferred Bitcoin into a Swiss financial institution, and then converted it to cash. This has resulted in more than $100 million in withdrawals, since June 2022.
Kwon’s collapse wiped out more than $40 billion of combined market value. FINMA, Switzerland’s financial regulator, did not comment on the matter.
Binance Review: US Investments in the Light of Regulatory Crackdown
Binance, the largest cryptocurrency exchange in the world, is under increasing regulatory scrutiny. According to reports, Binance may be considering terminating its partnership with US companies. Bloomberg reports that Changpeng Zhao (Binance CEO) is reviewing US venture capital investments and is looking into the possibility of cutting ties with US banks or service providers.
Binance is also said to be considering delisting tokens from U.S-based projects such as Circle’s USDC stablecoin.
Binance.US, which provides services to US customers, has been under investigation by the SEC, CFTC and DOJ. Binance.US insists that it is independent and will not be leaving the U.S. market despite the investigation.
Today’s live Bitcoin price is $24,323, with a 24-hour trading volume of $40 billion. Bitcoin has seen a 2.5% drop in value over the last 24 hours. Bitcoin currently ranks #1 in CoinMarketCap, with a market capitalization of $469 million. There is a maximum supply at 21,000,000 BTC coins and 19,293,956 BTC coin circulating.
Bitcoin rebounded after finding support at the $23,325 Fibonacci 50% retracement level. This level was reached by candles that closed above it, which initiated an upward trend and led to a Bitcoin buying trend.
Bitcoin’s next resistance level will be $24,350. A bullish crossover above this level could lead to a potential increase in Bitcoin’s price to $25,000. A “three white soldier” pattern on the 4-hour chart could indicate a possible uptrend in BTC.
A 50-day moving average also contributes to the possibility of Bitcoin continuing its upward trend. Investors might want to watch the $23,700 level for buy signals and then reverse if the price drops below that level.
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