Bitcoin Crash Risk: Regulators Clash & ETF Outlook
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In this riveting episode of Sheldon Evans, we delve into the tumultuous world of Bitcoin, where the stakes are high, and the regulators are at each other's throats like a pair of rabid wolves. The Bitcoin US Dollar chart tells a tale of woe, with a breakdown from a longstanding range signaling a potential nosedive to the dreaded $20K mark. The RSI and price dance a dangerous tango, hinting at a weakening rally that could send Bitcoin crashing down faster than a lead balloon.
But hold onto your seats, folks, because the plot thickens with US Regulators playing a game of regulatory tug-of-war. On one side, we have the SEC barking orders at Coinbase to halt all crypto trading except for Bitcoin, while the DOJ is sweating bullets over a potential Binance run-on that could send shockwaves through the crypto world. It's a clash of the titans, with investors caught in the crossfire like innocent bystanders in a wild west shootout.
Amidst the chaos, Bloomberg analysts swoop in with a glimmer of hope, raising the odds of a Bitcoin ETF approval to 65%. MicroStrategy jumps into the fray, issuing more shares to gobble up Bitcoin like there's no tomorrow. Grayscale, on the other hand, is leading the charge for fair play, demanding simultaneous approval of all Bitcoin ETFs to level the playing field. But with economic uncertainties looming large and regulatory thunderstorms on the horizon, the future of Bitcoin hangs in the balance like a sword of Damocles, ready to fall at any moment.
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Image copyright Youtube
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Discussion on the approval of ETF in the next 12 months
Comments on the crypto market volatility and stress on investors
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Criticism of technical analysis reliability and SEC's stance on crypto
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Speculation on the Bitcoin market, halving, and legal cases
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