Bitcoin News and Finance: What You Need to Know

U.S. Securities and Exchange Commission (SEC) crypto enforcement skyrocketed in 2023, with more than a 50% increase in crypto-related enforcement actions compared to 2022, according to a new report. The securities regulator “continues to view cryptocurrency-related enforcement as a top priority, bringing 46 enforcement actions against various digital-asset market participants,” the report details. SEC Prioritizes Crypto Enforcement Cornerstone Research released a report this week titled “SEC Cryptocurrency Enforcement,” revealing that the SEC’s enforcement focus on digital assets reached a new high last year. “The Securities and Exchange Commission (SEC) continues to view cryptocurrency-related enforcement as a top priority, bringing 46 enforcement actions against various digital-asset market participants in 2023,” Cornerstone Research described, elaborating: This number is the highest since 2013 and a 53% increase from 2022. “In the first quarter of 2023 alone, the SEC broug...

A Deutsche Bank survey has revealed that over one-third of 2,000 respondents anticipate bitcoin’s price to drop below $20,000. Moreover, around 15% of those surveyed predict the cryptocurrency’s price to range between $40,000 and $75,000 by the end of the year. Respondents Expect Bitcoin to Fall Below $20K According to a Deutsche Bank research report which includes a survey conducted from Jan. 15 to Jan. 19, the majority of respondents anticipate a further decline in bitcoin’s price, Bloomberg reported. The survey, which questioned 2,000 individuals in the U.S., U.K., and the Eurozone, focused on their perspectives on bitcoin’s price and volatility. The survey showed that over one-third of respondents believe bitcoin will drop below $20,000 by January next year. Meanwhile, approximately 15% of survey participants expect BTC ’s price to range between $40,000 and $75,000 by the end of the year. Deutsche Bank analysts Marion Laboure and Cassidy Ainsworth-Grace explained in the report...

Global investment bank JPMorgan says that profit-taking from Grayscale’s bitcoin trust (GBTC) has largely happened already. “This would imply that most of the downward pressure on bitcoin from that channel should be largely behind us,” the bank’s analyst explained. JPMorgan’s Bitcoin Price Outlook Global investment bank JPMorgan weighed in on the crypto market again this week following a bitcoin selloff that saw the price of BTC dropping from above $47K before the spot bitcoin exchange-traded fund (ETF) approvals to below $39K this week. The bitcoin selloff is accompanied by massive outflows from Grayscale’s bitcoin trust (GBTC), which converted into a spot bitcoin ETF following the approval by the U.S. Securities and Exchange Commission (SEC) on Jan. 10. Since Jan. 12, GBTC’s bitcoin holdings have decreased by 114,367.39 BTC , equivalent to $4.77 billion, based on the BTC exchange rates as of Jan. 27. On Thursday, JPMorgan strategist Nikolaos Panigirtzoglou said: “Given $4.3b ...

The crypto community is abuzz with anticipation for the upcoming Bitcoin network halving event, projected to occur on or around April 20, 2024. This event is sparking widespread speculation about its distinct importance. As the fourth Bitcoin halving nears, a theory of a potential major blockchain reorganization, fueled by the extraordinary worth of the halving block, is seizing the attention of crypto enthusiasts. Ordiscan Founder Says Bitcoin’s Next Halving May Trigger Unprecedented Reorg The upcoming Bitcoin network’s reward halving is not just a routine milestone. With less than 13,000 blocks left until the halving, occurring at block height 840,000, this event might mark a historic turning point for the protocol. Tristan , the founder of Ordiscan.com , emphasizes the unusual nature of this halving in a blog post called “The Next Bitcoin Halving Will be Reorged.” In the blog post, the author claims that Bitcoin block 840,000 is predicted to have the most valuable block reward...