Market Correction For Indices And Bitcoin While SEC Investigates Stablecoin Issuers
Last Updated on 6 November 2023 by CryptoTips.eu
Last week we saw bullish predictions forecasting a direct jump to $50,000 for Bitcoin, this week we seem to be taking a breather. Equity markets are mostly lower for the week.
Meanwhile, the US stock exchange watchdog is starting an investigation into stablecoins, about two weeks after a major US bank indicated that it would start its own stablecoin. Coincidence?
Correction
Michael van de Poppe, the Dutch analyst who last weekend predicted a jump to $30k before the end of the month, now admits that Bitcoin and crypto markets are experiencing a minor correction just as stock markets are unsure about future direction.
Markets correcting as U.S. indices are also correcting at this point.
— Michaël van de Poppe (@CryptoMichNL) February 22, 2023
This means, opportunities!
I think I'll be waiting for a bit lower on #Bitcoin to get triggered for a long position. pic.twitter.com/3dSixkJDKM
Michael hopes that this correction will be very short and believes that the ability to buy Bitcoin at a lower price can be very beneficial.
Markets correcting as U.S. indices are also correcting at this point. This means, opportunities!
He stated on Twitter.
In the Americas and Europe, markets moved lower this week after fears erupted among investors that the Federal Reserve (in America) and the ECB (in Europe) would raise interest rates further.
SEC investigates stablecoin
The SEC (Securities and Exchange Commission) is dominating the business press today with its latest moves against stablecoins (think Tether and BUSD), which it sees as a long-term threat to retail investors.
The fact that JP Morgan, one of the largest investment banks in the United States, recently announced itself that it would start with a stablecoin is probably strange to this news, or is it just a coincidence?
