The growth tendency continues, and today bulls brought the price to the December opening point at $ 4000.
The resistance at $ 3700 – $ 4000 was passed fast with high volumes, this is a positive sign for the upward development. If BTCUSD will manage to fix above $ 4000, that would confirm a turnaround formation and could provoke further growth. From below, the $ 3500 – $ 3700 zone should support the break-through of $ 4000 and further growth scenario. In the case of the bullish development, the next resistance would be $ 4300 (78,6 % Fibo) and $ 4500.
Trading Bounds: $ 3700 – $ 4500. If price will hold on above $ 4000 – high possibility of further upward movement to the $ 4500.
🔹 Mick Mulvaney – head of the office
The President of the United States chose Mick Mulvaney, pro-cryptocurrency advisor, the head of the office for the coming year. He is known for his positive opinion about Bitcoin: according to him, the main advantage of cryptocurrency is decentralization.
Back in 2016, Mulvaney accused the federal reserve of “effectively collapsing the dollar”, noting that such a trick simply would not come out with Bitcoin.
The fact that a crypto enthusiast occupies such a high post, and, moreover, was appointed by the president of the first economy of the world, will undoubtedly have a positive effect on the entire crypto industry in the long term. However, Mulvaney’s position is unlikely to make any adjustments to the plans of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The presence of such people in the US government may encourage other high-ranking politicians to pay attention to Bitcoin and other cryptocurrencies, as well as analyze their advantages over the current financial system.
Recall that, at the moment, the SEC does not recognize Bitcoin and Ethereum as securities, thereby not threatening their existence, but the Commission is far less well off with ICO and bitcoin-ETF.