How is Bitcoin regulated in the United States?
Bitcoin regulation is an ever-evolving topic, especially in the United States where national legislation is impacted by individual states.
As the year wraps up, Bitcoin price bagged a new all-time high smashing past $29,000 USD. If the price continues upwards, the cryptocurrency could reach $30,000 USD as the new year kicks off. Following a minor correction earlier this week, the price of Bitcoin hit another increase rallying to a new record price.
Looking at the chart over the past seven days, we can see Bitcoin’s rapid rise in price, minor dip and then further increase in trading. Moving from a price below $24,000 USD to over $29,000 USD, experts are both bullish and cautious about the short-term future of the cryptocurrency given the unprecedented price.
In the past week, Bitcoin price has seen a low trading price of $23 463,67 USD and a high of $29 180,10 USD. In different, Bitcoin’s value has surged by nearly 25% in just seven days of trading.
While many bullish trading analysts are predicting Bitcoin price to hit above $30,000 USD to break through new resistance barriers, others are less optimsist about the data before Bitcoin can reach past $30,000 USD. Nunya Bizniz, popular trading expert indicates that anything more than $30,000 USD might be overextended owing to the 1.618 Fibonacci retracement, which sits is at $30,196. As stated:
BTC Monthly:
1.618 Fib Ext in the cross hairs! pic.twitter.com/EInuTO24k6
— Nunya Bizniz (@Pladizow) December 30, 2020
Cryptocurrency analyst Michaël van de Poppe, on the other hand saw $27,500 USD as the critical region to break. Since Bitcoin has sent past this, he predicts the token to smash new all-time highs:
Well, a lower timeframe chart analysis on the recent movements of #Bitcoin.
The downtrend for now, crucial breaker at $27,000-27,500. If that breaks -> new all-time highs.
Support is looking heavy as it has been tested a few times.
Next area around $24,500 if $26,000 is lost. pic.twitter.com/vZMmiIw5wV
— Michaël van de Poppe (@CryptoMichNL) December 29, 2020
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