Good news about the approval system for the regulatory law for bitcoin and other cryptocurrencies?

Change in American politics?

• Hello, I hope you are all well, I am well thank God, today I will talk to you about a topic that I will address about some significant changes in the United States policy towards Bitcoin and other cryptocurrencies, as well as the approval of a law to regulate better these digital assets.

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"Important Advances in The Regulatory Situation in the US Show Willingness to Develop Balanced Regulation for Bitcoin."

• The United States House of Representatives approved FIT 21 with bipartisan support.

• This legislation seeks to establish regulatory clarity on digital assets.

• The White House shows willingness to develop balanced regulation for Bitcoin, marking an unexpected turn from its previous stance.

Impact on Bitcoin?

• The White House is interested in developing balanced regulation for Bitcoin, which represents a significant change from its previous position.

• HR 4763 bill that seeks to regulate the cryptographic ecosystem is mentioned.

Market Outlook ?

• The charts show mixed signs, with the S&P 510 rising again.

• There may be a possibility of a correction in the stock market towards 5350 points.

Bitcoin Analysis?

• Its current price of Bitcoin is stimulated at $69,800.

• If there is a drop in the charts, it is very likely that the price of Bitcoin will approach $68,400.

Alcoins and Ethereum ETFs?

• A positive impact is expected if ETFs for Ethereum are approved.

Detailed Summary

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Cryptocurrency Market Analysis

• Some alcoins have not recovered their value compared to Bitcoin from last month, indicating an unfavorable situation for the majority.

• There is a possibility of a rejection of the ETF, which would have a negative impact on the market.

• Some cryptocurrencies like Fed and E Link show downward resistance despite internal or external events.

• MicroStrategy shows correction but is still headed towards highs, depending largely on the behavior of Bitcoin.

• Ethereum and Theta also experience corrections after certain events, without significant changes to the overall picture.

Bitcoin Outlook and Forecasts?

• Current behavior and future projections related to Bitcoin.

• The "meme coins" continue with their characteristic volatility, while Bitcoin remains around $69,600.

• Warning of possible corrections if Bitcoin breaks certain lows, with levels such as $68100 or $68500 being considered probable but not certain.

• The probability of reaching $64,070 is almost zero starting on the 11th due to significant requirements to change the bullish trend.

Conclusion and Recommendations.

• US policy towards Bitcoin and other cryptocurrencies is constantly developing, with positive interest in more effectively regulating these digital assets; The approval of a new law to regulate cryptocurrencies would represent an evolutionary step in the search for a clear and stable regulatory framework in the countries.

• This law can provide greater confidence and protection to investors by encouraging innovation in the crypto space and strengthening the position of the United States in the global cryptocurrency market.

• It is vital that this law, in its proper regulation, is balanced since it promotes the responsible adoption of cryptocurrencies and avoids hindering technological development and innovation in the sector.

• As the country develops its regulatory approval, it is crucial to consider the potential benefits of cryptocurrencies such as financial inclusion and efficiency in their transactions, which can create an adequate environment for both users and companies in the country. crypto system.

• Caution is urged against possible surprises in both directions of the market and it is invited to be attentive to regulatory decisions that may influence cryptocurrencies.

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Weekly Count Post #1 Thursday, May 23, 2024 / time 12:42 pm.