Bitcoin (BTC) Aims Next Bull Run with Significant Price Surge
- Bitcoin price climbed by over 42% since the start of 2023.
- SEC Chair says everything other than Bitcoin is a security.
The world’s largest digital asset Bitcoin’s (BTC) chart signals green after trading for five days in a red candle. Since the beginning of 2023, the global crypto market showing some positive recovery from its prolonged bear market. At the time of writing, the overall market cap was $1.12 trillion, which increased by around 1.5% from the previous day.
However, the price of BTC is stable between 23K to 24K. The king of cryptocurrency surged over 42% since the start of 2023 and 8% in two weeks. Further, Bitcoin’s new addresses soared 43% from 312958 to 547420 between Jan 1 to Feb 26, 2023, and BTC short-term holders have increased, which may drive the next bull run to the king. At the time of writing, Bitcoin traded at $23,533, rose around 1.5% in the last 24 hours and has a market dominance of 42%. However, still, BTC is down by 3% in a week.
SEC Chair Statement on Crypto Assets
The U.S Securities and Exchange Commission (SEC) Chair Gensler claimed in a recent statement that “everything other than Bitcoin is a security”, as per New York leading magazine. This statement may indicate that the leading altcoin Ethereum (ETH) is a ‘Security’. Also, he hinted all other cryptocurrencies besides BTC have all the security characteristics and should fall under the SEC’s authority.
