The Crypto market was down in last week until yesterday, ahead of the FED’s new hike in the interest rate on Thursday. Bitcoins and Altcoins were at a low price and could be affected by the upcoming regulations.
Benjamin Cowen – A Crypto Market Analyst has given his opinion on Twitter, related to the down price of Altcoins in the upcoming days due to the impact of some regulations.
Bulls are getting rounded up
He also pointed out setting Altcoins and other digital assets whether they are unregistered securities or not. If not, they could be triggered by SEC Securities Laws.
I do think that alts need to go down a lot. Not only with respect to the US dollar but with respect to Bitcoin as well and I think that the narrative that will fuel that will be the regulatory concerns for the altcoin market.
SEC Chairman Gary Gensler is concerned that Ethereum and other coins like Altcoins could be listed as securities after transferring to the Proof-of-stake consensus mechanism following the Merge on 15 Sep.
The issue of whether these assets will be listed on the crypto exchanges or not still has not yet been concluded.
According to data from Coincu, Bitcoin fell below $19.443 after reaching the peak of $19.468.
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