SEC The Inadvertent Propeller For The Next Crypto Bull Market?

10 months ago

A lot of the losses sustained in the year 2022 have been recovered by the crypto market with Bitcoin rising over 80% Year to Date and many altcoins preforming even better.

This has made the crypto community think about whether the bear market is over and the market is preparing for the next bull run.

Moreover, the Bitcoin halving is expected to happen in less than an year from now which is typically regarding as a catalyst for the upcoming surge in the price.

However, the recent moves from the Securities and Exchange Commission (SEC) could suggest that the agency might have a role in the potential bull run.

Blockchain News

Securities and Exchange Commission being one of the most powerful regulators within the world's largest economy, the actions from SEC frequently have a direct on a relatively small market like the crypto industry. As which when SEC decided to go after Ripple in late 2020 and exchanges Binance and Coinbase a few months ago, it is believed to have harmed most of the crypto assets prices almost immediately.

Although it may not come as much of a surprise that the SEC's lawsuits could harm initiatives and businesses, there is also the other side of the angle. We saw the prices of XRP booming after Judge Analisa Torres’s ruling on Thursday that most sales of the Ripple-issued cryptocurrency do not constitute securities transactions.

Not only XRP but many other altcoins as well are believed to have experienced an immediate price surge following the ruling in favour of Ripple.

And probably the entire crypto market could surge further if Securities and Exchange Commission losses its ongoing battle against the leading crypto exchanges, Binance and Coinbase.

Not to forget that United States is one of the big market for the crypto industry. So, any ruling in favour of industry's two most prominent players - Binance and Coinbase could turn the table for the crypto industry.

Any thoughts?

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1 comments

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10 months ago

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