They’re Selling Altcoins and Buying Bitcoin! Here’s Why

of the SEC At a time when the pressure on cryptocurrencies is increasing in bitcoin The rise experienced has once again increased the interest of investors in cryptocurrencies.

Looking to rise in bull markets of bitcoin We have witnessed many times that he turns a deaf ear to negative news. Again, with a similar move, the rally, which came at a time when negative news intensified, caused an increase in the comments that “the worst is over”.

Luno vice president Vijav Ayyar told CNBC:

“There are growing signs that Bitcoin bottomed out in November and is back on the upswing. Here we are gaining momentum and any bad news is ignored by the market. This is a typical sign that the market believes the worst is over.”

Attention Altcoins!

in bitcoin during the rise in altcoins There is no serious acceleration and the decreases in BTC parities of altcoins have increased accordingly. BTC We see his dominance rise.

of money to bitcoin Bitcoin Bank analyst Yuya Hasegawa, who evaluated the reasons for of the SEC He stated that his last actions took place.

According to Hasegawa, the general rhetoric that altcoins are securities caused investors to switch from altcoins to Bitcoin, which triggered the rally in Bitcoin.

Analyst in bitcoin He evaluated the rise in the following words:

“The current regulatory environment and the SEC’s recent statements are definitely in the upwind position for cryptocurrencies. However, the fact that Bitcoin is the only cryptocurrency marked as a commodity by the SEC has caused some money in altcoins to switch to Bitcoin. Therefore, the market dominance of Bitcoin is increasing.”

Given that the SEC in general considers most altcoins to be securities, it is unknown which altcoins will be the SEC’s next target. Cryptocurrency investors who do not want to carry this risk from altcoins to bitcoin transition can be seen as a method of hedging for now.

For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!


source site-4