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Crypto bull run possible as Trump predicts Iran war will end soon

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Crypto Fear and Greed Index

A crypto bull run could be on the horizon after President Donald Trump hinted that the ongoing Iran war will end soon, and as the Fear and Greed Index continues rising.

Summary

  • Bitcoin and most altcoins jumped on Wednesday.
  • Donald Trump hinted that the Iran war will end soon.
  • The Crypto Fear and Greed Index is about to exit the fear zone.

Bitcoin (BTC) price rose to $71,000, while Ethereum was stuck above $2,000. The market capitalization of all coins jumped to $2.41 trillion.

The main reason for the potential crypto bull run is a statement from Trump, who noted that the Iran war will likely end soon, with officials predicting two more weeks of fighting. This means that it may end at the end of this month.

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He noted that the war will end as there will be nothing more left to attack. As a result, ending of this war will be bullish for Bitcoin and other altcoins because it will remove one of the main risks in the market. It will also lower the ongoing inflation concerns, which explains why crude oil prices have dropped sharply from the weekly high.

Still, the main risk is whether Iran will stop the war. Analysts believe that it is in its interest to continue fighting for longer to prevent future attacks from the US and Iran. Indeed, Iranian officials noted that they would switch to continuous attacks with the goal of pushing oil prices to $200 a barrel.

The other potential catalyst for a crypto bull run is the Fear and Greed Index has risen gradually. It has jumped from the year-to-date low of 10 to 27. If the trend continues, it will likely move to the neutral zone followed by the green area.

Crypto Fear and Greed Index
Crypto Fear and Greed Index | Source: CMC

Historically, crypto bull runs normally start whenever the index is rising. Prices then start their bear markets whenever they move to the extreme greed zone. This view mirrors the popular quote by Warren Buffett, where he recommends buying when others are fearful and selling when others are greedy.

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Crypto World

SEC, CFTC Handshake on Memo to Regulate Markets in Harmony

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SEC, CFTC Handshake on Memo to Regulate Markets in Harmony

Two of the US’s most influential financial regulators have agreed to better coordinate oversight of the financial markets, seeking to put an end to decades of “regulatory turf wars” between them.

According to the memorandum of understanding written on Wednesday, the US Securities and Exchange Commission and US Commodity Futures Trading Commission said it has become a “pivotal time” to regulate in harmony as new technologies, such as crypto, make it more challenging to monitor the markets:

“New trading models, digital infrastructure, and onchain, automated systems increasingly blur traditional jurisdictional lines,” they said, particularly as market participants operate across platforms and asset classes.

To address that problem, the SEC and CFTC said they will aim to provide regulatory clarity and certainty built on technology-neutral regulations and share information and data concerning issues of “common regulatory interest” to fulfill their respective regulatory mandates.

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In a separate statement, SEC chair Paul Atkins said the memo is the latest step toward repairing the relationship between the agencies: 

“For decades, regulatory turf wars, duplicative agency registrations, and different sets of regulations between the SEC and CFTC have stifled innovation and pushed market participants to other jurisdictions.”

Source: Mike Selig

Both the SEC and CFTC have made strides to deliver on US President Donald Trump’s mission of making the US the “crypto capital of the world,” having set up a crypto-specific task force and established an advisory committee to ensure crypto, AI and other emerging tech innovations continue to push forward in the US.