Bitcoin price prediction remains bullish, but BTC must break above the $17,000 resistance level to continue its uptrend. BTC/USD began trading at $16,842.00 on January 6. Its price ranges between $16,879 and $16,791 at its highest and lowest points. BTC/USD is currently trading at $16,955, up nearly 1% in the last 24 hours.
Strict Crypto Regulation in France
According to Bloomberg News on January 5, the governor of France’s central bank has called for more strict regulations for acquiring crypto licenses. Francois Villeroy de Galhau, governor of the Bank of France, stressed the significance of tight regulatory frameworks for crypto enterprises as the crypto winter continues to end.
Before the historic Markets in Crypto Assets (MiCA) regulatory vote in the European Union, Galhau made this declaration.
Highlights of the Day:
France central bank governor pushes for #crypto licensing ahead of EU laws
#DeFi security losses hit $3.64B after 47.4% rise in 2022
Declining demand for #Binance USD marks new phase in #stablecoin wars
Here’s what you need to know pic.twitter.com/wslAITAkTg
— Unidef (@UnidefGlobal) January 6, 2023
Galhau reportedly advised regulators that France shouldn’t wait for European regulations to take effect before forcing Digital Asset Service Providers (DASP) to seek authorization from authorities. It is because of the recent volatility in the blockchain industry.
The MiCA regulation would define licensing standards for cryptocurrency businesses and direct authorities to regulate the blockchain sector. Moreover, the regulation will be put to a vote in February.
Bank of France Governor Francois Villeroy de Galhau is urging tougher regulatory requirements for crypto firms https://t.co/sqEXmobsr5
— Bloomberg Markets (@markets) January 6, 2023
If the MiCA regulation is approved, crypto firms must register within 12 and 18 months following the law’s published final version. Furthermore, stricter regulations could limit France from fully participating in the cryptocurrency market.
Therefore, it could affect the crypto industry and the value of BTC and USD.
Manufacturing Sector Contracts
Inflation in the United States appears to be easing, according to recent data. The Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) fell to 48.4 in December, marking the second consecutive monthly decline. When the reading falls below 50, the manufacturing sector contracts.
The minutes of the Federal Reserve meeting, however, made it clear that the Fed would continue to raise interest rates in order to control inflation.
#US ISM Manufacturing Purchasing Managers Index
— Quick Crypto News (@QuickCryptoNews) January 4, 2023
The data from the ISM released on January 4 showed slower demand and lower input prices for manufacturers. It gave investors hope that the Federal Reserve might scale back future interest rate hikes. Therefore, BTC/USD and several altcoins surged. However, with the release of FOMC minutes, the price of bitcoin remains stable.
Justice Department of the US to Seize FTX-related Robinhood Shares
On January 4, Seth Shapiro, an attorney with the US Department of Justice (DOJ), stated that the US government is in the process of taking 56 million shares of Robinhood Markets at an FTX bankruptcy court hearing in Delaware. The shares have a value of approximately $460 million and are connected to the disgraced FTX founder Sam Bankman-Fried (SBF).
Prosecutors in the United States will seize $460 million in #Robinhood shares linked to the bankrupt #FTX. The US Department of Justice is going forward with the seizure of 56 million Robinhood shares valued at $460 million that were related to the bankrupt exchange FTX. pic.twitter.com/ufZzaMjICK
— DG CRYPTO TV (@dgcryptotv) January 5, 2023
According to a filing by Robinhood with the Securities and Exchange Commission (SEC) in May last year, Bankman-Fried served as the company’s only director and majority owner, and Emergent Fidelity Technologies acquired a 7.6% share in Robinhood. The ownership of the Robinhood shares has now been challenged by the current FTX management, Bankman-Fried, a specific FTX creditor, and cryptocurrency lender Blockfi, which also declared bankruptcy in November last year.
The new FTX management has submitted a motion to the Delaware bankruptcy court asking that the assets be kept frozen until the court can address the concerns in a way that is fair to all creditors of the debtors. It is because several parties claim the Robinhood shares. The next trial date is January 20, 2023, and the sitting judge has blocked off the entire day’s schedule to concentrate on FTX, the Robinhood shares, and any new events.
Since the collapse of FTX, the cryptocurrency market has experienced a steep decline. Moreover, any information about it may severely impact the entire cryptocurrency market and BTC/USD.
Bitcoin Price Prediction – Daily Technical Levels
Pivot Point: 16836
Take a Look at Other Cryptocurrencies
Given their strong teams, innovative ideas, and huge potential, the following list of three digital coins that are now in their presales has already garnered investment.
Fight Out (FGHT)
Fight Out is a blockchain-integrated move-to-earn (M2E) application and gym chain that will encourage users to stay healthy and active while rewarding them for their efforts. Additionally, Fight Out promotes community spirit in offline and online fitness networks. The app offers community members the chance to participate in challenges and get personalized training regimens with progress monitoring.
Fight Out will provide an exciting and satisfying method to be active and healthy, boosting Web3 technology adoption while creating a healthier society. Their FGHT token presale has already received funds totaling roughly $2.7 million.
Things are heating up #FightOutCrew!
Fight Out just reached over $2.7M in our presale!
— Fight Out (@FightOut_) January 6, 2023
FGHT is a fantastic investment right now before prices rise in its second presale stage because of the support of LBank Labs, Cryptonews.com, Transak, and BlockMedia Labs, who provide both financial and operational support. Additionally, there is the opportunity for an immediate reward of up to 50%.
Dash 2 Trade (D2T)
Dash 2 Trade intends to revolutionize the cryptocurrency trading industry with its ground-breaking capabilities. Traders will have complete visibility and control over their investments thanks to its set of tools, and they will also have access to a vibrant community where they can find resources for properly evaluating projects before investing.
The Dash 2 Trade platform is intended to help both new and seasoned traders develop their trading approaches and take advantage of automated trading via exchange APIs. Also, its token presale ranking system will make it easy for customers to feel safe investing in potential tokens early on, before they become widely used.
ATTENTION #D2T COMMUNITY
Only 5 days left until the exchange listings!
The first CEX launch will go live on Wednesday 11th Jan 2023!!
Confirmed CEX listings:
Stay tuned pic.twitter.com/IJwYRl8l84
— Dash 2 Trade (@dash2_trade) January 6, 2023
The D2T presale, which is growing in popularity, has reached its end and is just now accepting new investors. With the more than $14 million raised so far, the team will have enough money and resources to make a good start and keep improving their platform.
C+Charge is an iconic example of how blockchain technology may be used to solve practical issues. Compared to traditional payment methods, its peer-to-peer payment mechanism and secure smart contracts make it simple for EV owners to find nearby charging stations and pay for them directly from their crypto wallets.
C+Charge’s CCHG token presale has now begun, with tokens being sold at a discounted rate of $0.013 USDT each. The price will climb in four phases until it reaches its final price of $0.02350 per token.
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FightOut - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $1M+ Raised
- Real-World Community, Gym Chain