(5/27, Thu) btc once surpassed $40,000 and closed 2.3% up

Yesterday(5/26 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $38379, its lowest as $37784, its highest as $40891, its closing as $39254. Bitcoin reached a low 15 minutes after the start of Wednesday and then started to rise, surpassing $40,000 at 06:15, hitting a high at 08:00 and starting to decline, dropping to near $38,000 at 19:30, and then It rebounded and ended up 2.3% in the final.

Looking at the 4-hour chart, btc broke the 50MA, which was the previous day's resistance line, but it has been pushed back to that line due to the lack of buying volume and closed above it which seems that there is something more for Bitcoin to lead the cryptocurrency market. Looking at the daily chart, we can see the pattern that raises the bottom, and after the sharp crash on March 13 last year, it moved sideways for a week after this pattern and then rose again. Let's see if it would follow the same pattern again.

Meanwhile, Gary Gensler, chairman of the US SEC, said that there are gaps in the regulation of cryptocurrency and that there are many cryptocurrencies that operate like securities, and that regulations on crypto exchanges are particularly urgent. Through this mention, it seems that we can predict which direction the cryptocurrency market will move in the future.

One is that securities-type cryptocurrencies such as Ripple, which are currently being litigated, are likely to be greatly shaken due to regulations from the SEC, and the other is that among the numerous cryptocurrency exchanges, those that cannot handle the SEC's regulations are the first to be withdrawn. This may mean that there may be situations in which investment funds are more concentrated in major crypto like Bitcoin, Ethereum, etc., and it may be difficult to preserve the assets stored in small crypto exchanges.