Bitcoin has renewed its weekly high, but the effect of the B Word conference has exhausted itself

Bitcoin on Friday renewed its weekly high, but remained within the boundaries of the previous day. The effect of Elon Musk's statements at The B Word conference has exhausted itself.

After a 10% takeoff, it may take a couple of days tofurther consolidation and final design of the reversal structure. It is being implemented in the absence of negative signals from the upcoming Fed meeting on July 28, as well as from the hearings of the US Senate Banking Committee on the topic of cryptocurrencies (July 27), although this could happen earlier. But before that, a rollback to $31,500 is looming. 31 800,dictated exclusively by technology.

A bullish trend has formed on daily signalsdivergence in RSI, but pullback – This is already the removal of short-term overbought and a set of dynamism for future growth. Near-term futures entered contango, which indicates the restoration of optimism in the market.

Increase in the number of cases of the delta strain of COVID-19allows us to expect that the Federal Reserve will postpone the normalization of monetary policy, the prospects for the start of which have begun to unnerve, including participants in the cryptocurrency market. As for legislators, the market has so far focused on Musk and Co. This is evidenced by yesterday’s neutral reaction to the “attack” regulators on the lending platform BlockFi, which was accused of selling unregistered securities.

They gave this status to crypto-savingaccounts. Because of this, the firm has postponed its IPO for 12-18 months. Earlier, the head of the SEC, Gary Gensler, was unambiguously harsh about the tokens in which the shares are collateralized. Binance will remove them from the listing. But this is an increase in regulatory certainty, building a framework. The fact that the exchange is considering the possibility of holding an IPO of the American division in the future (this was announced by CEO Changpeng Zhao), despite the ambiguous news background regarding the crypto exchange, cannot but be perceived as a positive signal.

In general, a piggy bank of positive newsreplenished. Jack Dorsey, after The In Word, announced the integration of Bitcoin on Twitter. After periodic promises about the “native currency of the Internet” It’s time for him to put his plans into practice and expand the audience of cryptocurrency users.

A fresh report from Goldman Sachs showed that 15%family foundations have already invested in digital assets, 45% – are considering this option. The growth in the number of Bitcoin investors was also indicated by a public opinion report from Gallup. Regulators are pressing, but the caravan moves on. The trajectory is being followed, as was the case with Internet users in the first years after its appearance.

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