Bitcoin has had a very wobbled price action since the start of the month. While the digital currency has maintained a relatively positive growth outlook since the start of the year, it is still a very big determinant of the bearish turn the market often takes.
In all, the coin has moved in ways that suggest investors are aware of its immunity to the spate of cryptocurrencies labeled securities by the United States Securities and Exchange Commission (SEC). Many in the cryptocurrency community believe that Bitcoin is the only digital currency that does not fit the regulator’s classification of a security.
This potential immunity is bound to help fuel the stability of the cryptocurrency in the long term.
The Bitcoin outlook is a positive one, owing to the potential accumulation and the that is drawing near. The to file for a spot Bitcoin ETF application by BlackRock (NYSE:BLK) has also been viewed as a positive one for the market as a whole.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
