• This article discusses how the US Securities and Exchange Commission (SEC) will not be able to cause significant price drops in Bitcoin (BTC) and Ether (ETH).
• The market update from QCP Capital suggests that macro events could cause volatility next week.
• The SEC’s lawsuits against exchanges Binance and Coinbase have had little effect on the crypto markets, according to QCP Capital.
Bitcoin and Ethereum “Toothless Adversary”
QCP Capital has recently mentioned in its newest market update that Bitcoin (BTC) and Ether (ETH) are due for some volatility but not as a result of any action taken by the United States Securities and Exchange Commission (SEC). They believe that the SEC is a toothless adversary when it comes to impacting cryptocurrency prices, particularly BTC and ETH.
US Crypto Regulations
Recently, U.S. regulators have filed lawsuits against popular cryptocurrency exchanges Binance and Coinbase. Despite this, the Crypto Fear & Greed Index has stayed at neutral levels; 50/100, which suggests that these lawsuits have had no major adverse effects on crypto markets. Furthermore, according to QPC Capital, all that the SEC seeks with these cases is headlines leading up to a settlement with them being compensated monetarily rather than actually trying to take meaningful action on cryptocurrencies.
However, they do caution that if another department such as the Department of Justice gets involved then all bets are off as things could become more serious at that point in time.
Macro Events Ahead
The coming weeks will be action-packed with macro events which could influence volatility for both BTC and ETH markets according to QPC Capital’s analysis. News reports from next week onwards may also cause further disruption depending on what information is released during this period of time regarding cryptocurrencies or other matters related to them.
Crypto Markets Unaffected By US Regulations
Despite regulatory pressure from U.S authorities seeking out headlines rather than taking real action on cryptocurrency prices, BTC and ETH markets seem unaffected so far by their attempts as indicated by Crypto Fear & Greed Index staying rooted at 50/100 which equates to neutral sentiment in terms of market conditions being experienced currently.
In conclusion it can be seen that despite recent attempts by U.S authorities such as Gary Gensler’s SEC cronies wielding their ‘securities’ threat towards cryptocurrencies they have been unsuccessful so far in causing any major price drops or adverse effects on crypto markets due to their ‘toothless adversary’ status when it comes down to influencing prices pertaining to digital assets like Bitcoin or Ethereum etcetera