• Bitcoin has seen a strong rebound and is once again considered a “safe haven” asset by many.
• Positive developments such as increased adoption are driving its growth.
• Analysts from across the crypto industry have expressed optimism about both BTC and Ethereum’s future prospects.
Bitcoin Is Once Again Considered a „Safe Haven“
Bitcoin – the world’s number one cryptocurrency by market cap – has had a couple of solid months, leading many to view it once again as a „safe haven“. Last year was difficult for bitcoin, with the asset losing more than 70 percent of its overall value after hitting an all-time high in 2021. By the end of 2022, it was trading in the mid-$16K range and other assets followed suit, causing the crypto space to lose over $2 trillion in valuation. Recently however, bitcoin hit $25K – its highest level in 6 months – as stores and retail outlets started accepting it as digital payment method.
Positive Developments Driving Growth
Azra Kojadinovic – president of the Serbia Chapter – commented that BTC’s long-term outlook remains positive and ETH’s increasing popularity has been driving its growth. Whitney Setiawan – research analyst at crypto exchange Bitrue – echoed this sentiment but warned that long term holders may take their profits which could lead to some visible negative corrections in short to mid-term. Jenny Zheng – BD lead at ByBit – noted that with companies now accepting crypto for payments, these assets are likely to surge in value even further.
The Future Looks Bright
The enthusiasm levels remain high within the crypto sphere and investors are taking positions which could change their bottom line in future. As adoption of cryptocurrencies continues to rise, analysts from across the industry remain optimistic about both BTC and Ethereum’s future prospects in terms of price performance and usage.
Regulatory Pressures No Longer An Issue
It appears that regulatory pressures no longer pose an issue for bitcoin or other cryptocurrencies as its recent upsurge shows that it is becoming somewhat immune from them. This shows how far cryptocurrency has come since last year when there were several issues concerning regulation which caused prices to crash substantially.
In conclusion, Bitcoin is once again being viewed as a „safe haven“ asset by many people due to its recent surge in price and increase in adoption amongst retailers and stores worldwide. Analysts from across the industry remain optimistic about both BTC and Ethereum’s long-term outlooks, suggesting that prices will continue rising over time despite possible short-term corrections due to profit taking by long term holders. Regulatory pressures no longer appear to be an issue either; this highlights how far cryptocurrency has come since last year when they posed significant problems for investors looking towards making gains on their investments into these digital assets
Senator Tuberville Introduces Retirement Crypto Investment Bill
• Senator Tommy Tuberville (R-AL) is reintroducing a bill that would prevent the Department of Labor from interfering with retirees who want to use their funds to purchase crypto or other speculative assets.
• The move is being initiated as a response to the Biden administration’s attempt to regulate standard American financial practices and control what citizens do with their money.
• Tuberville believes that federal government shouldn’t be choosing winners and losers in the investment game, and that Americans should have the freedom to invest in their futures however they see fit.
Biden Administration’s Overregulation
The Biden administration has been working hard to implement heavy regulations on everyday Americans‘ finances, particularly targeting 401(k) investments by attempting to overregulate them. This has caused a lot of frustration among lawmakers like Senator Tuberville, who believes that such tactics restrain financial growth and restrict personal liberty. He stated: „The federal government shouldn’t choose winners and losers in the investment game. Bureaucrats have no business telling hard-working Americans how to manage their savings accounts.“
Elizabeth Warren’s Opposition
When Fidelity announced it would allow clients to use their retirement funds for investing in cryptocurrency, Elizabeth Warren (D-MA) responded by accusing them of irresponsible tactics and attacking them for it. Such behavior demonstrates how certain members of the Democrat party are trying to get in the way of individuals making decisions about how they spend their money – something which goes against what was set out by our Founding Fathers in our Constitution.
Senator Tuberville’s proposed bill is an attempt to protect American citizens from having their financial decisions regulated by an intrusive government which seeks only to control its people rather than allowing them free reign over their own lives. Despite opposition from some members within his own party, he insists that everyone who earns a paycheck should have access to the same level of financial freedom when it comes to investing in their future.
If successful, this bill could provide retirees with greater autonomy when it comes to managing their savings accounts – allowing them more freedom when deciding where best they invest for retirement without fear of interference from the government or other political figures seeking regulation or control over these actions. This could be hugely beneficial for those looking towards retirement as it gives them greater security and assurance knowing that they can make choices based on what works best for them without any external influence getting involved.
• Kalah Haley, founder of Saint Rock Media, is a Non-Fungible Token (NFT) strategist who believes that digital assets have potential but need to change directions.
• She believes blockchain technology will be the future and that cryptocurrency is not going away anytime soon.
• She is a huge fan of bitcoin because it’s fully decentralized and controlled by no single entity.
Kalah Haley on the Future of Digital Assets
Non-fungible token (NFT) strategist and founder of Saint Rock Media Kalah Haley makes her paychecks by analyzing where the NFT market will go. NFTs, while not necessarily cryptocurrency, are arguably crypto-based given that they are tokens running on blockchain and they can sometimes be used as collateral to gain crypto. In a recent interview, Haley said that while she feels digital assets have a lot of potential and are here to stay, they need to change their directions up a bit given they’re not really going anywhere at the time of writing.
Misconception About Crypto
Haley stated: I think a lot of people have a pretty bad misconception. The biggest thing, in her opinion, is blockchain technology. She believes blockchain is going to be what companies and individuals really take to in the coming years, and that if crypto has anything to offer, this technology is it.
Bitcoin: The Daddy Of All Altcoins
She also mentioned that she’s a huge fan of bitcoin, and that she feels it’s the only digital asset out there today that really has anything to present. She loves that it’s fully decentralized and uncontrolled by a single entity. She also states it was the first crypto to come to the market, and that as the biggest one and the daddy of all follow-up altcoins, it has the most chance of integrating itself into modern society.
She said: I think bitcoin is a good bet simply because it’s the most decentralized – no one controls it – which also makes it hard build on top of since no one owns or maintains its technology either.
Other Analysts Also Like Bitcoin
She is not alone in her opinion about BTC; despite bearish markets in 2022 when BTC fell over 50%, well known analyst Tim Draper also likes BTC
• EOS price is rising above $1.15 against the US Dollar, similar to bitcoin.
• There was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
• The first major resistance is near the $1.232 level, above which the price could rise steadily towards the $1.30 level.
EOS Price Analysis
EOS price started a fresh increase from the $1.08 support against the US Dollar. The price is now trading above $1.15 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move up if it clears the $1.22 and $1.232 resistance levels.
On the upside, an immediate resistance is near the $1.22 level, close to 61.8% Fib retracement level of last key drop from swing high to low point of EOS/USD pair. The first major resistance is near the $1.232 level, above which it could rise steadily towards its next target at around$ 1.30 mark or even higher reaching as far as$ 1 .32 mark if there are no interruptions in movement .
Downside Support Levels
On the downside, there are two main support levels at around$ 1 .16 and$ 1 .145 respectively where it may find some consolidation below them before further advancing in either direction . If there’s any downward break below these supports , then price may revisit its previous low of$ 1 .0731 or even lower reaching as far as$ 1 .02 mark or even lower depending on market conditions .
Technical indicators like MACD and RSI are currently showing bullish signs for EOS/USD suggesting that prices might continue its upward momentum in future unless any major changes occur in market sentiment or other factors influencing its pricing pattern ,
In conclusion , considering all factors discussed so far , we can say that EOS prices will likely to continue their uptrend if they manage to sustain themselves over important support levels discussed earlier and break through resistances mentioned later with ease without much volatility seen in markets during this period of time .