Market participants believe that by the end of this year, Bitcoin will stay between $18,000 and $25,000, which is why
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Investors are positive about SEC cryptocurrency Witch Hunting Action
Bitcoin sentiment has improved since July
In a recent article, Bloomberg said that traders generally have a positive attitude towards SEC ’s recent crackdown on crypto companies, believing that this is a bullish signal for such assets. They think so because they would rather invest in cryptocurrencies after “taking greater enforcement actions.”
In this regard, many investors have changed their expectations for Bitcoin, not what they said in July. Now, they think BTC will stay above $17,600, up to $25,000 before the end of 2022.
Investors actively view SEC's cryptocurrency witch hunting action
Recent MLIV Pulse survey shows that investors believe that the recent legal actions taken by SEC to participants in the crypto market are beneficial to overall encryption. Of the 564 people who participated in the survey, nearly 60% said they believed it.
securities regulator recent investigations include San Arrow Capital and Celsius Network (both bankrupt), as well as Yuga Labs, who created the NFT collection of boring apes.
One of the respondents, TIAA Bank's World Markets President Chris Gaffney, said he believes the surveys are positive because when the crypto market is more regulated, it will no longer be the "Wild West" but more like a traditional investment vehicle, becoming "better".
than Bitcoin sentiment has improved since July
This wave of positive expectations has extended to Bitcoin. Most investors involved in the survey were more optimistic about BTC prices than their July views.
They believe that by the end of 2022, the flagship cryptocurrency will remain in the range of $17,600 to $25,000. In July, compared to this, they expect BTC to drop to $10,000 and then rebound to $30,000.
However, Bloomberg added that in past surveys, they have more options to choose from than in the summer. Since the last survey was conducted in July, the leading cryptocurrency Bitcoin has fallen about 60% this year, trading at $18,171 to $25,203.
Since March, Bitcoin has shown strong correlation with the S&P 500 index. Now, 42% of survey participants said they expect BTC to remain relevant to tech stock next year. 4% plan to invest more money in cryptocurrencies and their associated assets over the next 12 months.
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