The post Bitcoin Price in Limbo: Analyst Forecast $20k in August if BTC Price Fails To Hold This Level appeared first on Coinpedia Fintech News
The Bitcoin (BTC) market has continued to range between $29.6k and $31.4k in the past 18 days, thus creating high anticipation for an imminent breakout in either direction. The uncertainty in the Bitcoin market is partially due to the ongoing tension between United States regulators and institutional investors demanding entry to the crypto market.
While the SEC continues to disregard the need for a Bitcoin ETF – filed by BlackRock, Fidelity, and Valkyrie among others – the judicial system has not yet ruled on the XRP case to determine if most altcoins are unregistered securities or commodities.
Moreover, more jurisdictions around the world led by the UK, EU, UAE, Singapore, Hong Kong, and Japan have already enacted clear crypto rules to help in safe adoption.
Bitcoin Price Action In the Coming Weeks
According to a popular crypto analyst
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