Bitcoin traders were thrown off balance in the past few days as the price of Bitcoin (BTC) rallied from a region of $25,500 to a high of $30,800, with many crypto traders calling this cryptocurrency rally a scam pump.
Cryptotrader influencers continue their speculation of the possible price decline to a low of $27,000 or $28,000 to allow many other crypto traders and investors to profit from this sudden BTC rally that has produced over 10% gain for BTC and other crypto altcoins like the likes of PEPE, DOGE, SHIB all rallying with over 30% gain in the past few days.
Recent weeks saw the crypto market confused as the US Security and Exchange Commission (SEC) filed legal action against top cryptocurrency exchanges, with Binance and CEO Changpeng Zhao and Coinbase being in the mix.
The US SEC filed legal actions on the issue of offering unregistered securities as it listed the likes of BUSD, BNB, SOL, ADA, and others as the crypto market saw price dropping rapidly with the likes of Bitcoin price retesting a low of $24,800 acting as strong resistance for price in recent months.
All allegations against Binance have been ignored as CZ urges bit coin traders to continue trading and builders to ignore all the FUD labelled on the Binance exchange as this tactic stiffens the regulations on cryptocurrency entities.
The news of Fidelity, Schwab, and Citadel backing new crypto exchange EDX signals TradFi’s deeper dive into digital assets, as this has acted as a catalyst for the price of Bitcoin and the crypto market as a whole, with BTC rallying with smaller altcoins and meme coins popping from their lows.
Bitcoin Traders Review – Bitcoin Weekly Price Overview
BTC price has shown much price action in the past few days rallying from its low of $25,500, acting as good support and demand zone for many bitcoin traders and cryptotraders who have set buy orders to make a purchase of bit coins in this region.
The price of Bitcoin rallied from $25,500 to a high of $30,800, with many Bitcoin traders hoping the price of BTC retraces to $27,500 – $28,000 where the price can be scooped with ease as many crypto traders believe the price could be set for a rally to a high of $38,000 – $45,000 if the price of BTC flips $31,500 into support.