Bitcoin Price Prediction: BTC Spikes Above 24,000 – Where is Next BTC Target
Bitcoin, the most popular and valuable cryptocurrency in the world, saw a dramatic price increase, exceeding $24,000 for the first time ever in its history. Investors and traders around the world have noticed a recent spike in Bitcoin’s price and are wondering what the next target might be for BTC.
The SEC’s Crypto Asset Exam Radar is Heating Up: What to Expect in 2023
The The US Securities and Exchange Commission (SEC). Recently, the SEC reaffirmed its commitment towards protecting investors and ensuring compliance to federal securities laws. The SEC released its list of examination priorities on February 7, 2023. It identified “Emerging Technologies” and “Crypto-Assets” as the key focus area for the year. This will focus primarily on broker-dealers, Registered Investment Advisors (RIAs), who use these technologies.
Payward Ventures Inc., also known as Kraken was charged by the SEC on February 9, 2023 for failing to register their offer and sale of crypto-asset services. Kraken was fined US$ 30,000,000 and stopped offering crypto asset staking services for US customers as part of the settlement.
The SEC Chair, Gary Gensler, stressed the need for intermediaries to provide proper disclosures and safeguards required by securities laws when offering investment contracts in exchange for investors’ tokens, whether through staking-as-a-service, lending, or other means.
Kraken isn’t the only cryptocurrency company to have been subject to SEC enforcement actions. Nexo Capital Inc was charged by the SEC with US$ 22.5 Million for failing to register its crypto-lending product with US investors. Nexo also agreed not to offer its crypto asset lending product.
These enforcement actions highlight the increasing scrutiny by the SEC of crypto industry. The goal is to ensure that investors are adequately protected, and that market participants adhere to securities laws and regulations.
Companies in the crypto industry must be aware of the most recent regulatory developments and remain vigilant to avoid penalties or reputational damage.
The Leading Bahrain Hotel Accepts Bitcoin: A Milestone in Crypto Adoption in the Arab World
Novotel Bahrain Al Dana Resort claims to have set a new standard by adopting cryptocurrency as a viable method of remuneration within the country’s hospitality industry. Other hotels on the Arabian Peninsula have been echoing this trend towards digitalization of monetary assets, such as W Dubai – The Palm and Palazzo Versace Dubai.
As per recent ReportsNovotel Bahrain Al Dana Resort and Eazy Financial Services have teamed up to enable guests to pay their hotel expenses using cryptocurrency. To facilitate this offer through Binance, the hotel will set up custom terminals at its outlets.
The Central Bank of Bahrain has approved this strategic move, making Novotel Bahrain Al Dana Resort now the first hotel in the Kingdom that can accept this payment method. Amid Yazji, the General Manager, shared his excitement by the following statement.
We are thrilled to announce that Eazy Financial Services has partnered with us to make it possible for us to be the first hotel in Bahrain to use cutting-edge digital payment technology.
The popularity of popular digital assets such as Bitcoin and other altcoins is increasing and people are adopting them more frequently.
Bitcoin Price
Bitcoin trades at $24,600. There has been a 24 hour trading volume of $38 Billion and a 3% increase over the last 24 hours.
Bitcoin experienced a bullish trend following the discovery of support at 50% Fibonacci level (located at $23,325). A recent closing candle above this mark has created a buying trend and increased market sentiment.
Bitcoin’s next hurdle is $25,300. The BTC price could rise to $26,000 if there is a bullish crossover above this level.
A sustained uptrend in Bitcoin is also supported by the 50-day moving mean. Investors who wish to capitalize on this trend should keep an eye on $24,250 as a potential entry point to a long position in Bitcoin.
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Bitcoin Alternatives
CryptoNews published a thorough review of the 15 most popular cryptocurrencies investors should be aware of for 2023. This report is intended to help investors make informed investment decisions.
Investors may be interested in other investment options that offer high potential returns, such as cryptocurrencies.
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