Issue 9 – 2023 Crypto Live Casino News – A major upswing or false signals?

The biggest news in the crypto world is that Bitcoin broke the $30k USD resistance a couple of days ago.

This psychological barrier has boosted the entire industry, and the market is quite optimistic. While the market is anticipating growth throughout the crypto world, it has presented global legislators with a massive challenge.

A proper legal framework is necessary so that a stable financial system can continue to evolve in the digital asset market.

In order to achieve a balance of rules and regulations, good faith actors must adhere to the rules that are clear and demand clarification where they are murky. At the same time, regulators and industry participants must cooperate to build a solid framework that fosters innovation and protects consumers.

The companies that comply with the regulations outlined by the SEC still seek clarity in areas that the regulatory branch hasn’t addressed. This has caused ambiguity between the two parties and much hostility. The SEC maintains that there are no uncertainties in the law but the number of lawsuits that crypto companies are disputing is mounting. Most of the large exchanges follow the guidelines that the SEC has outlined, but the current state of the industry isn’t doing enough to protect investors and companies. The SEC still has a lot of work to do.

The industry’s current state is not ideal and there will be many more bumps along the way as the crypto world continues to innovate and the regulatory bodies strive to keep up. The commitment to the crypto industry is a necessity on both sides if it is to succeed with less resistance and friction. Public policy needs to be more transparent and the crypto industry more patient to achieve goals on both sides.

Last Month’s Report: Track back to compare crypto prices a month ago from today by visiting Issue 8 – 2023 Crypto Live Casino News.

Crypto Price Watch

(Issue 9 – 2023 Crypto Live Casino News)

• Bitcoin (BTC) – A few days ago, the rumour that the BlackRock Bitcoin had been approved by the SEC caused a spike in the price to over USD 30K, which turned out to be fake news. During this surge, BTC traded USD 21b in 24 hours and gained 5%. Market analysts believe that the price rise could also be attributed to the SEC dropping the lawsuit against Ripple and its senior executives. The coin has continued to rise and is trading at around USD 30,500, with the new resistance level at USD 31,07.
• Bitcoin Cash (BCH) – In the last month, BCH whales have bought 150,000 BCH coins which has been very positive for the altcoin price. BCH is up 8.6% since the previous report and trades at USD 247.60. Trading volumes have been very high, and volatility levels have been deficient in the last week, signalling that the bulls have taken over. The next resistance level is USD 250; if the altcoin breaks through this level, the next resistance level is USD 253.
• Litecoin (LTC) – Litecoin celebrated its 12th anniversary last week and has shown exponential growth. The altcoin has over 214 million addresses and continues to grow as innovative faucets reward players with small amounts of LTC for completing small tasks. These platforms have raised brand awareness and contributed to currency adoption for LTC. The coin has fluctuated very little since taking massive losses in August and is currently trading at USD 66.19.
• TRON (TRX) – TRON is up a respectable 66% since January compared to its peers. The altcoin continues to achieve new yearly highs, breaking through technical resistance levels. TRX enjoyed a spike when BTC broke through the USD 30k barrier and is currently trading at USD 0.91. TRX continues its upward trajectory with increased liquidity and achieved a historic high of USD 6.90b last week. This milestone reveals that traders have confidence in the altcoin and will continue to hit higher highs.
• Ripple (XRP) – Ripple executives have been under the scrutiny of the SEC for the last 3 years, but a few days ago, the regulatory commission dismissed the charges against them. The filing did not include dropping the civil suit, which included violations concerning institutional sales of XRP. The court cases have forced XRP to do 90% of its business offshore, driving U.S. innovation to foreign markets. The altcoin enjoyed an 8% spike over the positive news and is currently trading at USD 0.53.
• Ethereum (ETH) – Ethereum has been on a bullish run the last few days because of the BTC spike. The rise of recent ETH whales trading Ethereum may also signal an extended run for some short-term gains. The altcoin is up almost 4% since the last report and is trading at USD 1,688. The coin is seeing strong resistance at USD 1,700, but if it can break through this barrier, it could rise to close to USD 2,000 by the end of the year. Traders must watch the close relationship between ETH/BTC in the coming weeks. If BTC continues to rise, ETH will follow.

Disclaimer: If you plan on trading crypto, please visit one of the many expert crypto sites out there offering advice on how to navigate the highly volatile world of cryptocurrencies.