Bitcoin Price Prediction As BTC Surges Above $24,000 – Where Is The Next BTC Target?

Bitcoin, the world’s most valuable and well-known cryptocurrency, has seen another significant price increase, crossing the $24,000 mark for the first time in its history. This recent surge in Bitcoin’s value has caught the attention of investors and traders around the world, with many now wondering where BTC’s next target might be.

The SEC’s crypto-asset research radar is heating up: what to expect in 2023

The US Securities and Exchange Commission (SEC) recently reaffirmed its commitment to protecting investors and ensuring compliance with federal securities laws and regulations. In its list of research priorities released on February 7, 2023, the SEC identified “Emerging Technologies and Crypto-Assets” as a key area of ​​focus for the year. This focus will primarily be on broker-dealers and registered investment advisers (RIAs) using such technologies.

On February 9, 2023, the SEC sued Payward Ventures Inc, which operates as Kraken, for failing to register the offering and sale of their crypto asset service. As part of the settlement, Kraken paid a US$30 million fine and stopped offering its crypto asset staking services to US clients.

The SEC Chairman, Gary Gensler, emphasized the need for intermediaries to provide proper disclosures and safeguards required by securities laws when offering investment contracts in exchange for investor tokens, whether through staking-as-a-service, loans or other resources.

Kraken is not the only crypto company to have faced SEC enforcement action. In January 2023, the SEC charged Nexo Capital Inc US$22.5 million for failing to register its crypto lending product with US investors. Nexo also agreed to stop offering its crypto asset lending product.

These enforcement actions underscore the SEC’s increasing oversight of the crypto industry, with the goal of ensuring that investors are adequately protected and that market participants comply with securities laws and regulations.

As regulatory frameworks continue to evolve, it is critical for companies operating in the crypto industry to remain vigilant and abreast of the latest regulatory developments to avoid potential fines and reputational damage.

Bahrain’s leading hotel now accepts Bitcoin: a milestone for crypto adoption in the Arab world

Novotel Bahrain Al Dana Resort has reportedly set a groundbreaking benchmark by embracing cryptocurrencies as a viable form of reward in the hospitality sector in the country. This recent maneuver towards the digitization of monetary assets has been repeated by several other hotels in the Arabian Peninsula, including W Dubai – The Palm and Palazzo Versace Dubai, which have followed suit in recent months.

According to recent reports, Novotel Bahrain Al Dana Resort has partnered with Eazy Financial Services to enable guests to pay for their accommodation expenses using cryptocurrencies. The hotel plans to set up bespoke terminals in its outlets to facilitate this offering through the Binance application.

This strategic move has been approved by the Central Bank of Bahrain, making Novotel Bahrain Al Dana Resort the first hotel in the kingdom to accept this payment method. The General Manager, Amid Yazji, expressed their excitement in the following statement:

“To keep up-to-date with the evolution of technology and our continued commitment to provide the best service to our valued guests, we are pleased to announce that we are the inaugural hotel in the Kingdom of Bahrain and the region to cut – edge digital payment technologies through our partnership with Eazy Financial Services.”

As more and more people continue to use cryptocurrencies, the prices of popular digital assets, including Bitcoin and other altcoins, are gaining traction and support.

Bitcoin price

Bitcoin is currently trading at $24,600, with a 24-hour trading volume of $38 billion and up 3% in the last 24 hours.

Bitcoin has been on a bullish trend after discovering support at the 50% Fibonacci retracement level, which was at $23,325. The close of a recent candle above this mark has triggered a buying trend in the market and reinforced positive market sentiment.

Looking to the future, Bitcoin’s next hurdle is at $25,300. If there is a bullish crossover past this level, BTC price could be propelled upward to reach $26,000.

Bitcoin Price Chart – Source: Tradingview

The 50-day moving average also supports the possibility of a continued uptrend in Bitcoin. Investors interested in taking advantage of this trend can keep an eye on the $24,250 level as a potential starting point for a long Bitcoin position.

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Bitcoin Alternatives

CryptoNews has released a comprehensive overview of the top 15 cryptocurrencies investors should consider for 2023. The report aims to help investors make informed investment decisions.

Besides cryptocurrencies, there are other investment options with the potential for high returns that investors may want to explore.

Disclaimer: The Industry Talk section contains insights from crypto industry players and is not part of the editorial content.

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Cryptocurrency Price Tracker – Source: Crypto news






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