Bitcoin Price Prediction as $40 Billion Trading Volume Rushes In – Are Whales Buying?
The Bitcoin price prediction continues to remain unchanged, despite the fact that the world's largest digital asset by market capitalization has been in the news lately due to the recent surge in its trading volume. With a trading volume of over $40 billion in the past few days, the market is buzzing with activity, and many investors are wondering what this could mean for the future of Bitcoin.
In this update, we will explore the impact of this surge in trading volume on the price of Bitcoin and analyze the role played by whales in the current market scenario.
Despite concerns among some crypto traders about potential regulatory shocks in the near future, a group of high-profile investors remains unfazed. Following the temporary suspension of US Dollar deposits and withdrawals by Binance, a crisis scenario could arise if no US banks step up to offer support.
While there may be more clarity on the situation next week, the recent $30 million settlement between Kraken and the US Securities and Exchange Commission (SEC) resulted in a sudden drop in market prices.
Following the settlement, Coinbase CEO Brian Armstrong issued a warning that the SEC could potentially ban crypto staking altogether. Against this backdrop, recent remarks from SEC chair Gary Gensler suggest that crypto companies will be required to provide full disclosures, further supporting the possibility of such actions being taken in the future.
In fact, Gensler went so far as to state that compliance with US laws regarding full and faithful disclosures may be the only way for crypto companies to remain viable.
Whales are large investors who hold a significant amount of a particular asset and have the ability to significantly impact the market with their actions.
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