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Bitcoin ended the evening session at $ 50,000, gaining a foothold at an important price level. The bulls made a real Christmas present for investors by keeping the rate above MA (15) for two sessions, drawing a classic signal of a short-term uptrend.
At the moment, the BTC quotes have run up against the resistance of the side channel that has been holding the cryptocurrency throughout December.
The breakdown of this border will finally consolidate the trend signal and may lead to an impulsive acceleration of growth. This option is possible due to the external favorable situation in financial markets and positive news regarding the future of digital currencies.
Judging by the three-day increase in the stock indexes, investors have decided on a Christmas rally, increasing their risk appetite and positively affecting the cryptocurrency market. In addition, at the end of yesterday there was news about the legislative initiative of Senator Cynthia Lummis.
According to Bloomberg reporters, she has developed a large project for the comprehensive regulation of digital assets. Lammis has brought many cryptocurrency legislation to Congress and owns Bitcoin herself.
The overarching proposals include separate regulation of stabilcoins, classifying digital currencies, consumer and investor protections, and most importantly, a new regulator. Now the CFTC and the SEC are engaged in cryptocurrencies, but Lammis considers these departments to be the main obstacle to the development of innovation.
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