Biden's 'Seismic Shift' May Be About to Trigger Huge Earthquake in Bitcoin Prices After Ethereum 'Firestorm'

Bitcoin, Bitcoin, Ethereum and the broader cryptocurrency market were in Washington, D.C. this week – and there is still a “decisive” vote to come.

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Bitcoin's price has been boosted by a democratization that has been credited with helping change the US Securities and Exchange Commission's (SEC) stance on approving a number of exchange-traded funds (ETFs) ahead of an expected decision. this week.

Now, Galaxy Digital CEO Mike Novogratz, a former partner at Goldman Sachs and a crypto proponent, predicts that Bitcoin, Ethereum and crypto prices will be “much higher than they are here” due to the political change.

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“Forbes’ Right Moment” – Bitcoin and Ethereum Suddenly Poised for $4.2 Trillion ETF Price BombBy Billy Bambrough

US President Joe Biden has been selected as an anti-cryptocurrency candidate like former President Donald Trump… [+] Includes Bitcoin, Ethereum and cryptocurrencies.

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A “broad shift among Democrats” over the past 24 hours led the SEC to reverse course on its planned rejection of spot Ethereum ETFs this week, according to Novogratz, who told CNBC: “It feels like someone is in the White House.” Under Biden, he called and said, 'Guys, we can't be the party against cryptocurrencies anymore.'”

The crypto split between Trump and President Joe Biden has “sparked a firestorm” in Washington, D.C., according to Novogratz. “It became almost a purity test — Republicans are good at crypto, Democrats are bad at crypto. The Democratic system woke up and said ‘this is crazy.'”

The price of Ethereum rose nearly 30% this week after Barron's reported that the Securities and Exchange Commission has notified exchanges where Ethereum ETFs are likely to trade that they are leaning toward approval. Earlier this week, Bloomberg Intelligence ETF analysts James Seyfart and Eric Balchunas suggested that the SEC's pushback on approving Ethereum ETFs was due to shifting political winds.

Elsewhere, the US House of Representatives is expected to vote on Wednesday on the Financial Innovation and Technology Act for the 21st Century known as Fit21, which would split responsibility for regulating cryptocurrencies between the Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC).

Nancy Pelosi, a California Democrat and House Speaker Emeritus, is considering voting in favor of a Republican-backed cryptocurrency bill, the American Prospect reported, citing anonymous sources.

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Forbes After GameStop Price Collapse, Meme Stock Traders Have a Surprising New Target for Bitcoin and Cryptocurrencies By Billy Bambrough

The price of Bitcoin has skyrocketed this year, rising alongside the price of Ethereum and on a broader scale. [+] Crypto market.

Forbes digital assets

At least eight House Democrats support the bill, according to a memo a congressional aide shared with Coindesk. Top Democrats said they “strongly oppose” the bill but are not whipping their members against it, Politico reported.

Last week, 60 cryptocurrency companies and organizations, including Gemini, Kraken, Coinbase, and the Digital Currency Group (DCG), signed a letter in support of the bill.

Meanwhile, a high-ranking cryptocurrency executive who met with former President Donald Trump earlier this month said he expects President Joe Biden to abandon his threatened veto of the proposal to repeal SAB 121, the controversial cryptocurrency accounting rule. Controversy that prevents the largest Wall Street giants from exiting. Encryption storage services.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

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