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After dipping on Wednesday, the Bitcoin (BTC) price dropped down to a support at $30k, from where it launched multiple attempts at correction in the last 24 hours. Unfortunately, a strong resistance at $30.2k kept the price from progressing further up.
That resistance was finally broken on early Thursday, allowing Bitcoin to sharply surge to the next big level at $30.7k. At the time of writing, Bitcoin’s price managed to reach the resistance with ease but not to break it. Instead, its price is lingering just below it, at $30.672.
Some experts believe that Bitcoin is following a cyclical trend that will change again in a four-hour time frame, sending the coin downward until a specific area, only to allow it to go back up after that.
The same analyst shared their view for the weekly Bitcoin chart, suggesting that the general trend will remain upward from their point of view.
However, a different analyst believes that the asset will fall to $30.2k again if it breaks the white trend line and closes below its last ceiling on the following chart.
Bitcoin ETF race continues as Ark amends SEC filing
Recently, reports suggested that ARK Invest, one of the high-profile firms that filed for a Bitcoin ETF alongside BlackRock, has amended its SEC filing. The company decided to add a surveillance-sharing agreement to its proposal. The change took place about a week after BlackRock’s filing, so experts suggest that the company is trying to match its proposal to that of BlackRock.
ARK’s original proposal was submitted to the SEC back in April — almost two months before BlackRock started this bull run by submitting its own proposal. However, after studying it, ARK apparently found that BlackRock’s filing included superior elements, which it was now able to match.
North Carolina passes a bill to commission a study on BTC holding
Another interesting news for Bitcoin comes from North Carolina, where the House just passed a new bill. The bill is to commission a study on holding Bitcoin, which would examine the possible impact of owning cryptocurrency and how the state would custody digital assets.
The study is to be conducted by North Carolina’s Department of State Treasurer, who was tasked with researching feasibility and potential benefits that might open up to the state if it were to start holding BTC. The bill also commissioned $50,000 for the study.
📢 Another #Bipartisan Victory in NC w/ passage of HB721 | #Bitcoin/#DigitalAssets/Custody Study Bill
-Passed 75-38
-GOP + Dems 🤝 Came Together
-Directs/Funds @NCTreasurer to Study Benefits of #BTC + #Custody
-Led by @NC_Blockchain + @SoundMoneyDef📎https://t.co/0veKPZlbVJ pic.twitter.com/nNYUbfmJd1
— Dan Spuller (@DanSpuller) June 28, 2023
Robert F. Kennedy Jr. promises to protect crypto users Bitcoin rights if elected
Following the US SEC’s latest crypto crackdown, the future of cryptocurrencies and crypto companies in the US was brought into question. Many have pointed out that the US crypto sector could become heavily Bitcoin-focused, as BTC seems to be the only cryptocurrency safe from the regulators. However, others believe that the government might even try to get rid of Bitcoin later on, and push the masses toward a CBDC.
Presidential candidate Robert F. Kennedy Jr. promised in a recent speech that he would protect the US citizens’ right to use and hold Bitcoin as president. He further stated that this right would be inviolable if he gets elected.
As president, I will make sure that your right to use and hold Bitcoin is inviolable. Bitcoin is not only a bulwark against totalitarianism and the manipulation of our money supply, it points the way toward a future in which government institutions are more transparent and more… pic.twitter.com/rPkMARieYu
— Robert F. Kennedy Jr (@RobertKennedyJr) June 27, 2023
Wall Street Memes presale hits a new milestone: $11 million raised
One of the crypto industry’s hottest meme coins right now is a cryptocurrency that is not even out yet. Known as Wall Street Memes (WSM), the token has managed to raise over $11.1 million during its presale, and it is still not done.
The project is currently selling its token for $0.0304 per unit, which will continue for another 22 hours as of the time of writing. However, after that, the price will jump to $0.0307. The token can be purchased with ETH, USDT, or via credit or debit cards.
It emerged as a way to mark an event in early 2021 when a subreddit called WallStreetBets saw its members — amateur investors — engage in a mass purchase of stocks targeted by institutional investors. While institutions were shorting the stocks, hoping to make money and not caring that they would destroy the companies they belonged to in the process, Redditors turned the tables on them by pumping the shares’ price and causing institutions to lose money.
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