Bitcoin And Crypto Now Bracing For China Earthquake After $100 Billion Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon, Solana Price Rally

02/22 update below. This post was originally published on February 20th

Bitcoin, Ethereum and other major cryptocurrencies are skyrocketing through 2023, despite growing fears that the United States could wage a “quiet” war on cryptocurrencies.

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Bitcoin price has surpassed $25,000 per bitcoin, up 50% since the beginning of the year, helping to boost the price of ethereum and adding more than $100 billion to the combined cryptocurrency market – including BNB BNB, XRP XRP, cardano, dogecoin, polygon and solana .

Update 02/22: There could be a shift in sentiment for bitcoin and cryptocurrencies, as traders increasingly cheer what appears to be a softening of China’s stance toward cryptocurrencies after a brutal crackdown in the summer of 2021 that wiped billions from the cryptocurrency market.

“The big question is, even though interest rates are rising and the dollar is strengthening, is there a catalyst that can push [the bitcoin price over $25,000?]Gareth Soloway, chief market strategist at Verified Investing, told Coindesk, pointing to China’s narrative as attracting new bitcoin buyers who have been spooked by higher federal interest rates and the threat of looming US regulations over the past year. I think this combo from Hong Kong could be something that helps.”

After Hong Kong’s financial regulator announced plans that could open up the cryptocurrency market this week, Bloomberg reported that the mainland Chinese government in Beijing could have quietly endorsed the idea, fueling expectations that the cryptocurrency market could be in a boom led by Asia.

“Interest in cryptocurrency is a global phenomenon, and regulators in Europe and now Asia have recognized that a basic level of regulation is not only necessary, but desirable to build confidence in this nascent industry,” Bradley Duke, co-CEO of ETC Group, said in the comments. By email. “Both investors and crypto service providers benefit from the stability offered by reasonable regulation — a point that now appears to be lost to the US Securities and Exchange Commission (SEC).”

Now, the co-founder of bitcoin and cryptocurrency exchange Gemini, Facebook co-founder Cameron Winklevoss, has released a “bullish” price prediction — warning that the US could either “embrace [crypto] or fall behind.”

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MORE FORBESI Is This the Real ‘Mystery’ Reason Behind Bitcoin, Ethereum, and Crypto’s Surprising $100 Billion Price Boom? By Billy Bambro

Bitcoin is up 50% since the beginning of 2023, driving up the price of Ethereum, BNB, XRP,… [+] Cardano, Polygon, Dogecoin and Solana.

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My work thesis [at the moment] is that the next bull run will start in the east,” Winklevoss, who founded a bitcoin and cryptocurrency exchange in New York with his twin brother Tyler, posted on Twitter.

Bitcoin’s latest rally turned into a bitter crypto winter in late 2021, as the bitcoin price fell below $16,000 per bitcoin from a peak of around $70,000. The combined crypto market, which reached $3 trillion in November 2021, has seen its $2 trillion value vanish in just 12 months.

Cameron Winklevoss predicted bitcoin’s “next bullish” price just hours before Hong Kong’s securities regulator announced plans to allow retail investors to trade bitcoin, ethereum and other major cryptocurrencies later this year under a new licensing regime for cryptocurrency exchanges.

Meanwhile, US regulators are cracking down on bitcoin, ethereum, cryptocurrency and crypto companies in the wake of last year’s sudden collapse of FTX which sent shockwaves through the cryptocurrency market.

The US Securities and Exchange Commission (SEC) has been accused of waging war on bitcoin and cryptocurrency by cutting off the industry from banking services – branded “Operation Choke Point 2.0”.

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More From Forbes’ ‘New CEO’ – Elon Musk Teases Twitter Change, Driving Bitcoin Rival Dogecoin Price Up

Bitcoin price has rebounded from its recent lows this year but is still well below its 2021 peak… [+] Almost $70,000 per bitcoin. Ethereum and other top ten cryptocurrencies such as BNB, XRP, cardano, dogecoin, polygon, and solana.

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“Any government that doesn’t provide clear rules and honest guidance will be left in the dust. Quickly,” said Cameron Winklevoss.

“It would mean missing out on the greatest period of growth since the advent of the commercial Internet. It would mean missing out on the opportunity to shape and be an essential part of the future financial infrastructure of this world (and beyond).”

Last week, Singapore-based DBS revealed that cryptocurrency trading volumes will nearly double in 2022.

Marcos Soterio, market analyst at digital asset broker GlobalBlock, said, “The increase in trading volume on DBS’s digital asset platform is a reminder that any government, even the US, that does not provide clear guidance can be left behind in the Fourth Industrial Revolution.” , in an email note.

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