Welcome to Extreme Investor Network, where we provide you with the latest and most valuable information about the Stock Market, trading, Wall Street, and more. Today, we dive into the exciting world of digital assets and the impact they are having on the global payments system.
“My Administration is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global payments system.”
The decision to focus on digital assets comes at a time when there is increasing chatter about cryptocurrencies on Capitol Hill. Even former US President Donald Trump has shown his support, stating,
“If you like crypto in any form…and it comes in many forms…if you’re in favor of crypto, you better vote Trump.”
With 52 million Americans already owning crypto and the growing interest in digital assets, it’s clear that these assets could play a significant role in the upcoming US Presidential Election.
Technical Analysis
Bitcoin Analysis
When it comes to Bitcoin (BTC), it is currently hovering above the 50-day and 200-day EMAs, signaling bullish price movements. If BTC can break through the $69,000 resistance level, we may see a run towards the all-time high of $73,808.
However, it’s important to consider various factors such as US lawmaker discussions, trends in the US BTC-spot ETF market, and SEC activities when making trading decisions. On the flip side, a break below the 50-day EMA could lead to a drop towards the $64,000 support level.
With a 52.92 14-Daily RSI reading, BTC may have the potential to climb to new highs before entering overbought territory. Keeping a close eye on these technical indicators can help you navigate the volatile world of cryptocurrency trading.