US Lawmaker’s Concerns and Economist’s Warning Impact on Bitcoin Prices
A US lawmaker, Frank Lucas, has criticized the SEC’s method of implementing rules, which has influenced Bitcoin prices. He is concerned about the potential economic consequences of these regulations and their effects on interconnected markets.
Popular economist Peter Schiff warns that the Federal Reserve’s actions have hurt the economy and that its plan to fight inflation won’t work. He believes the current economy is in a bubble driven by debt and too much spending, and that there will be more inflation.
Bitcoin (BTC) 4-Hour Chart Analysis
The price of Bitcoin could face resistance at $26,700, but if it surpasses this level, it might increase. If it doesn’t go past $26,700, it could drop to the supported area of $26,000. Important facts to consider when checking the chart include resistance levels at $26,700 and $27,600, and support levels at $26,000 and $25,400.
If the price stays higher than the moving averages for 30 and 50 days, it might continue to rise and potentially reach $26,700 or higher. However, the RSI and moving averages suggest that the price could fall. It’s recommended to set stop-loss orders to protect your investment.
Bitcoin (BTC) Statistics
Bitcoin’s price is currently $26,050, with a market cap of $507.15 billion. The circulating supply and total supply of Bitcoin are both 19,468,356 BTC. Bitcoin is ranked #1 on CoinMarketCap.
Sonik Coin: A Unique Alternative to Bitcoin (BTC)
Sonik Coin is a unique cryptocurrency inspired by Sonic the Hedgehog. It aims to quickly reach a value of $100 million and rewards holders for staking their coins. Sonik has already raised around $555,000 during the presale.
Staking helps reduce sales impact when Sonik hits Uniswap, and the project plans to release Japanese, Simplified Chinese, and Korean translations of its website to attract crypto enthusiasts in Asia. Experts predict that Sonik might grow by 10 times or more.
Sonik’s Surge in Asia: Thriving Amidst the Crypto Boom
Sonik’s connection to Sonic the Hedgehog creators makes it popular in Asia, especially among Japanese and other Asian crypto enthusiasts. Sonik prioritizes security and thoroughly audits its smart contract. The presale is equitable, with 50% of tokens sold to the public, 40% reserved for rewards, and 10% saved for exchange liquidity.
You can purchase Sonik on the Uniswap DEX post-presale using ETH or USDT. Act quickly to benefit from Sonik’s growth potential.
Hot Take:
The concerns raised by the US lawmaker and economist, along with the analysis of Bitcoin’s price chart, suggest that Bitcoin’s future is uncertain. The impact of regulations and potential inflation worries are influencing the market. Additionally, Sonik Coin presents an alternative to Bitcoin with its unique features and potential for growth in the Asian market.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.