Bitcoin Price Prediction as BTC Hits Above $24,000 – Where is the Next BTC Target?

The most valuable and well-known cryptocurrency in the world, Bitcoin, has once again seen a major surge in price, and it recently broke above the $24,000 threshold for the very first time in its history. The recent increase in Bitcoin’s value has piqued the interest of investors and traders all around the world, and many of them are already speculating on where the cryptocurrency might go from here.

The Securities and Exchange Commission’s Crypto Asset Examination Radar Is Becoming More Active: What to Expect in 2023

Recent events have resulted in the United States Securities and Exchange Commission (SEC) reiterating its dedication to protecting investors and promoting compliance with federal securities laws and regulations.

The Securities and Exchange Commission (SEC) recognized “Emerging Technologies and Crypto-Assets” as a priority topic of focus for the year on its list of inspection priorities, which was issued on February 7, 2023. The primary target audience for this attention will be broker-dealers and Registered Investment Advisors (RIAs) who make use of such technologies.

The SEC filed charges against Payward Ventures Inc., which operates as Kraken, on February 9, 2023, for failing to register the offer and sale of its crypto-asset business. As part of the agreement, Kraken agreed to pay a US$ 30 million fine and to discontinue providing crypto asset staking services to customers in the United States.

When it comes to offering investment contracts in exchange for investors’ tokens, whether through staking-as-a-service, lending, or any other means, the Chair of the SEC, Gary Gensler, emphasized how important it is for intermediaries to provide the appropriate disclosures and safeguards that are mandated by securities laws.

The SEC has taken enforcement action against more than one cryptocurrency company, including Kraken. The Securities and Exchange Commission (SEC) levied a fine of US$ 22.5 million against Nexo Capital Inc in January 2023 for failing to register its crypto lending product with US investors. In addition to this, Nexo has concurred to terminate its crypto asset lending program.

These enforcement actions highlight the increasing attention that the SEC is exerting on the cryptocurrency business. The SEC is doing this with the intention of ensuring that investors receive proper protection and that market participants comply with applicable securities laws and regulations.

Because regulatory frameworks are still undergoing significant change, it is essential for businesses operating in the cryptocurrency industry to maintain a high level of vigilance and keep abreast of the most recent developments in regulatory policy in order to avoid the risk of incurring penalties and suffering reputational harm.

The Top Hotel in Bahrain Is Now Accepting Bitcoin, Marking a Major Step Forward for Cryptocurrency Acceptance in the Arab World
It has been suggested that the Novotel Bahrain Al Dana Resort has established a pioneering benchmark by accepting cryptocurrencies like bitcoin as a legitimate form of payment in the hospitality industry within the country.

This current move toward the digitalization of monetary assets has been echoed by a variety of other hotels that are located on the Arabian Peninsula. Examples of these hotels include W Dubai – The Palm and Palazzo Versace Dubai, both of which have followed suit in recent months.

Recent news articles state that the Novotel Bahrain Al Dana Resort has formed a partnership with Eazy Financial Services to facilitate the acceptance of cryptocurrency payments for room and board costs incurred by guests. In order to simplify the provision of this service by use of the Binance application, the hotel intends to install customized terminals in each of its outlets.

Bitcoin Price

The current price of Bitcoin is $24,600, with a 24-hour trading volume of $38 billion and an increase of 3% over the course of the last 24 hours.

The 50% Fibonacci retracement level, which was placed at $23,325, provided support for Bitcoin, which led to the beginning of a bullish trend in the cryptocurrency’s price. In the market, a purchasing trend has been triggered as a result of the closing of a recent candle above this mark, which has also boosted optimistic market sentiment.

When considering the future, the next obstacle for Bitcoin is at a price of $25,300. It is possible that the price of bitcoin will be catapulted higher, all the way up to $26,000 if there is a bullish crossover over this level.

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