Gary Gensler was negative regarding cryptocurrency but there is some news spreading regarding the SEC chairman's resignation. Many altcoins were called security by Gary Gensler. The news source is an SEC official they have not revealed the name. So Whatever I am sharing here is not 100% confirmed and maybe it will be wrong.
Currently, things are very slow but the worst time is over. Maybe they will flush out some weak hands with one massive dump after that, I believe that Bitcoin will move towards the halving cycle. Because together big companies applying for the bitcoin ETF is the signal that a good time is near.
Why Gary Gensler submitted resignation?
Sources said that currently, the investigation is going on on SEC chairman Gary Gensler. Many congressmen said against the gary gensler and according to them recent actions of gary gensler are not right and he is not given any clarification. He was taken action against binance and coinbase exchanges. Warren Davidson introduced the SEC stabilization act and according to it, gary gensler misused the power so the old structure should be changed with a new structure, in which, 6 commissioners are there.
Currently, SEC has 4 commissioners which is why it's imbalanced. Along with this, it is said that Garry Gensler should resign.
It is beneficial for the crypto market?
Since gary gensler always spreads negativity against crypto so we can say it is beneficial for the crypto market and it is bullish too for the short term. The problem is this is not good for the current US government and also Warren Davidson belongs to the opposition party. In the long term, we can't say anything because nobody knows new chairman will be positive regarding crypto or not.
Recently the SEC said that BlackRock and fidelity ETF filing is not clear. But the good thing is Blackrock and other ETF appliers resubmitted after adding Coinbase as custody. When it comes to international politics then the Biden administration should focus on technology because another side, their competitors China and Russia showing positivity towards crypto. Recent Hongkong news is a fresh example for you.
So international politics is also involved in this. Overall, things will turn out in a positive mode. Remember, the best time to buy crypto is when everyone is selling and always keep this in mind. Still, the altcoins are very down so accumulate the best altcoins now, especially hive. Hive currently trading around $0.33. Remember, Everything shared here is not financial advice.
Hope you get valuable information from this post you can share and reblog this post. Also, share your suggestion regarding the information that I have shared here I will meet you in my next blog.
Thank you, everyone.
Lucky Ali
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| Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested to learn new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |