Today, analysts who had optimistic predictions were disappointed as events unfolded in an unexpected manner. The price of BTC dropped below $67,000. As the upcoming U.S. elections draw near, indications suggest that the SEC will strengthen its regulations on cryptocurrency in the coming year, which is not favorable for market participants.
Elections, SEC, and Cryptocurrency
In the world of cryptocurrencies, Gensler holds a negative view. He believes that almost all altcoins are securities and will remain in his position until 2026. Although Trump is leading in polls related to crypto, he continues to lag behind in real-world surveys.
Elon Musk represents a final opportunity, both in the crypto space and in the elections. With only a few days remaining before the elections, Musk is becoming increasingly visible, dedicating significant effort to supporting Trump. The billionaire, known for his high public profile, is effectively running a promotional campaign that could result in substantial profits without spending money.
Analysts’ Crypto Predictions
The SEC has published its 2025 audit focus document, which highlights comprehensive audits for cryptocurrency companies that could lead to lawsuits next year.
Before today’s sudden decline, Michael Poppe shared insights that excited altcoin investors, suggesting that if ETH were to surpass the $2,770 resistance, it could potentially reach $3,200. However, currently, ETH is moving in the opposite direction.
Jelle cautioned about a possible test at $65,000, which coincided with BTC’s attempt to retest $69,000.
Lastly, Phoenix issued a warning today about potential minor pullbacks, indicating a cautious market sentiment.
You can stay updated with our news on Telegram, Facebook, Twitter, and Coinmarketcap.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks. It is recommended to conduct thorough research before making any investment decisions.