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Bitcoin continues to put pressure on its highs


#We can’t end the year without talking about #Bitcoin. #After all, this month ends the longest streak of monthly gains since mid-2019.

There is so much to be said about #Bitcoin that an article like this couldn’t cover it all. There are some simple but important things worth mentioning and taking into account for traders / investors in 2021.

#Bitcoin in 2021

#This is not a forecast of how #Bitcoin’s price will develop in 2021. #Rather, it is a review of what could influence the price of #Bitcoin – especially since the #Security and #Exchange #Commission (SEC ) sued #Ripple.

#What do the two have in common? #Apparently nothing.

The SEC announced on #December 22 that it had filed a lawsuit against #Ripple #Labs #Inc. and two of its executives. The allegations are that they have raised more than $ 1.3 billion through an unregistered securities offering. #Since the announcement, #Ripple’s price has collapsed. #Rumors are circulating ahead of the SEC’s announcement that #Ripple’s price slumped from $ 0.58 on #December 20, to $ 0.20 and below in the days that followed.

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A very good question is: what does #Bitcoin have to do with it? #Apparently nothing – except for the fact that #Ripple is one of the most popular cryptocurrencies in the world. #On #November 24, it was trading at close to $ 0.79 – a month later it fell below $ 0.21 and even below $ 0.17 on #December 29.

#Everyone assumes #Bitcoin is legal for the simple reason that it is scarce, and the model foresees fewer and fewer coins available. #Yet, few people know that most #Bitcoins are held by a few wallets – less than 10% of all wallets own all available #Bitcoins.

I’m not saying #Bitcoin is doomed, but this is the first time we’ve seen the SEC wield its power over a cryptocurrency. #This time around it’s #Ripple, but are we so sure the SEC can’t come up with something … anything, against #Bitcoin?

#One need only raise such a question to receive a lot of negative comments about the financial community. #You see, most retail traders are hoping #Bitcoin will hit $ 100,000 or more, without considering anything else. #For example, if the BTCUSD pair reached $ 100,000, what would that mean for the earnings of people in USD?

#That said, a lot of people and institutions believe #Bitcoin is here to stay.



[ source link ]
https://www.professeurforex.com/actualites/la-tendance-haussiere-de-bitcoin-continue-datteindre-de-nouveaux-sommets-pour-2021/

##Bitcoin #continues #put #pressure #highs

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