The UK says no to the Bitcoin Reserve, but the stage that was appointed to the highest new levels after April increase
- The UK rejects bitcoin reserves while New Hampshire and Trump Administration adopt this approach, as countries like the Czech Republic and Kyrgyzstan are exploring similar options.
- Although the encryption reserves are rejected, the UK is still interested in the distinctive symbol and DLT, while Japan, South Korea and Switzerland rejected bitcoin reserves.
- After the strong April, bitcoin prices can reflect its correction, according to BitFinex, as it decreased from the highest level in January to less than $ 75,000.
- Bitcoin’s ability to maintain more than $ 95,000-the lower border to its previous range-while trading at 96553 USD can indicate a return to its highest levels despite the total economic turmoil.
Despite the global payment towards encryption included – Or at least Bitcoin – In state treasures, the United Kingdom is going differently. Through the blessing, the view is that Bitcoin & Co. It is not “suitable” for the British, with Emma Reynolds, the economic secretary of the Treasury, saying that there are no plans for the Bitcoin Reserve – Unlike New Hampshire, which was recently adopted:
We do not think this is suitable for our market. We understand that this is what the United States will go to, but this is not the plan for us.
Emma Reynolds, Economic Secretary of the UK
Regardless of New Hampshire at the state level, there is of course the executive order for Trump on a Bitcoin Reserve and encryptionWhile some countries, such as Czech Republic Kyrgyzstan also explores their options.
However, Reynolds also said that the UK is still very interested Distinguished symbol The distribution of the technology of the professor’s book and still cooperates on the organizational front to the digital assets.
Japan, South Korea and Switzerland recently rejected the proposed bitcoin reserves. Many American countries also have Refuse similar billsOften it indicates an increase in Trump’s participation with industry Fears of corruption.
Related to: The bitcoin reserve bills face setbacks where Florida joins a growing list of countries of rejection
Bitcoin is ready to reverse the correction, for example analysts
Although all of this may seem to be a setback for the industry, it may not be bad for Bitcoin and others Cross currencies After all. BitFinex analysts wrote that after a strong closure in April, Bitcoin may be “inversely a path after an early month’s correction.”
After specifying a New at all (ATH) in January after the upscale momentum with Trump’s return to office, things turned to some extent quickly. for him Commercial wars It caused the global markets to enter a state of fear from which she began to recover slowly.
Then BTC decreased to less than 75,000 US dollars (115.6 thousand US dollars), but it has been steady since then. The oldest of all metal currencies is now trading with $ 96,553 ($ 148,903), with a monthly increase of 24 %.
Are you ready to make new levels at all?
BitFinex analysts added that the assembly shows “Bitcoin flexibility amid total economic turmoil and risk morale.”
They also said that Bitcoin’s ability to maintain the current critical technical level could indicate more bullish direction:
Restoring the level of $ 95,000-the minimum minimum range, which lasted three months-is now the main technical threshold. Keeping this area, especially since BTC is merges above the cost of a short -term pregnant woman of $ 93,340, can lay the basis for returning to its highest levels ever.
Bitfinex
Read also: Capitol Hill’s encryption chaos: My party deepens the Trump digital links
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