Bitcoin has started the day posting gains. At press time, the largest cryptocurrency by market cap is trading at $52,301.80 (+1.11%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ether has fallen to $3,894.79 (-1.3%), while Cardano has dropped by 7.56% and is now trading at $2.69.
FxPro's team of analysts say:
"Bitcoin was not able to hold its positions yesterday: in the afternoon, the price of the asset retreated from a high of $52,000 to $51,600. On Tuesday morning, Bitcoin has risen again to $52,600, thus securing the start of an uptrend 'above fifty'.
It is possible that this is really just the beginning: a Bloomberg analyst continues to insist on a $100,000 forecast for the benchmark cryptocurrency.
In global news, yesterday it become known that the SEC is investigating Uniswap as well as other DeFi projects.
Earlier, the regulator's head Gary Gensler spoke about plans to investigate all cryptos and DeFi in particular. However, he has also pointed out that in addition to this there are many unresolved issues in the securities market, which are now a priority for the SEC.
However, investors should not relax. Even if a grace period is obtained, regulation will eventually come to the DeFi sector. Recall that in 2019 there was a precedent for shutting down a DEX exchange. At that time, the SEC said that an organization that has exchange status must be licensed. Its absence is a violation of the law.
In addition, the UK financial regulator, the FCA, intends to tighten control over cryptocurrencies, which also became known on Monday. However, there is no talk of a total ban.
In addition, El Salvador today officially recognizes Bitcoin as a means of payment. Let's check if the rule 'buy with rumors - sell with facts' always works."
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $2,352,122,025,097.
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