Crypto regulation is an important part of the industry and more people are starting to understand this.
The world’s top financial leaders called on Thursday for the swift and comprehensive regulation of cryptos following turmoil that has seen the demise of the Terra stablecoin last week, a draft communique showed on Thursday.
“In light of the recent turmoil in the crypto-asset market, the G7 urges the FSB (Financial Stability Board)…to advance the swift development and implementation of consistent and comprehensive regulation.”
This is what finance ministers and central bankers from the Group of Seven industrialized nations said in the document.
They were meeting in Koenigswinter, near Bonn (Germany), on Thursday and Friday.
Crypto analyst predictions optimistic Bitcoin move
It’s been just revealed that the crypto strategist is unveiling his next price target for Bitcoin (BTC) that will massively defy BTC’s current downtrend.
Pseudonymous analyst Credible made sure to highglithe the fact that one day he will be bearish on Bitcoin, but not until it roars past the $100,000 level to complete an extended bull cycle.
“Looking forward to being bearish after this wave up over $100,000 that I’m expecting completes.”
Credible said: ‘Seeing the way sentiment is now during a mid-cycle correction means the correction that corrects the entire bull cycle from $3,000 to $100,000+ is going to be absolutely brutal.”
Someone else noted that “The analyst next takes aim at those who predict Bitcoin will fall below $15,000 by saying that similar doom-and-gloom prognostications last year missed out on BTC lurching to a series of new all-time highs (ATHs) in the late summer and fall.”
“The argument for $13,000-$14,000 BTC on the premise that past major bear markets have led to 80% declines from the top makes a major assumption – that $65,000 was the cycle top.
It’s the same assumption people made at $30,000 in June ‘21 before we rallied to a new ATH of $65,000 three months later.”