• Bitcoin opened the week testing $25,000.
• Hong Kong has unveiled its crypto licensing framework for Virtual Asset Service Providers in June.
• This new regulation will not allow retail investors to trade digital, contrary to what a recent tweet suggests.
Bitcoin Opens Week Testing $25K
Bitcoin opened the week with prices testing the USD 25,000 mark. Ethereum is also down by 0.7% and other Layer 1 protocols including Solana, Polkadot, and Polygon have made double-digit gains of 20%, 19%, and 18.5%, respectively. Joe DiPasquale, CEO of crypto fund manager BitBull Capital says that it is critical for bitcoin to reclaim USD 23,000 if we were to see more upside action.
Hong Kong Crypto Licensing Framework
Hong Kong has unveiled its crypto licensing framework for Virtual Asset Service Providers in June 2021 which focuses on accredited professional investors only and does not allow retail investors to trade digital assets, contrary to what a recent tweet suggested.
Elon Musk’s Tweet Impact
Elon Musk’s recent tweet had an impact on Dogecoin (DOGE) as it rose by 5% in the last week while Shiba Inu (SHIB) was up 4%. However Floki token named after Musk’s dog was down 7% on-day but still up 108% for the week overall.
Bitcoin Needs Bullish Monthly Close
Joe DiPasquale believes that another bullish monthly close may be what the market needs for bitcoin to test USD 30,000 mark; however he thinks that the market may just consolidate instead of going up if not this month then next month in March 2021.
Austin Conversation in Crypto & Web3
Join the most important conversation in crypto and Web3 taking place in Austin from April 26th – 28th 2021 at Secure Your Seat event where experts discuss topics such as blockchain technology, token economics and decentralized finance (DeFi).