Bitcoin Price Prediction as Bears Keep BTC Below $30,000 – Where is BTC Heading Next?
In the midst of ongoing market fluctuations, the outlook for Bitcoin (BTC) remains a topic of intense speculation.
As bears exert pressure and keep the price below the critical $30,000 level, traders and investors are closely monitoring the next potential moves.
With the market dynamics at play, the future trajectory of BTC remains uncertain.
However, amidst these developments, it's worth noting that the recent SEC appeal regarding Ripple's XRP decision is not perceived as a 'setback,' according to insights from a crypto lawyer.
As we delve deeper into the analysis, we aim to shed light on the possible scenarios and factors that could influence BTC's next moves.
According to cryptocurrency attorney John Deaton, the recent appeal filed by the Securities and Exchange Commission (SEC) in its lawsuit against Ripple Labs does not pose a serious setback to Ripple's legal victory.
Since 2020, when the SEC accused Ripple of conducting unregistered securities offerings and raising $1.3 billion, the company has been embroiled in a legal battle with the regulatory agency.
Gary Gensler, the chair of the SEC, expressed disappointment with certain aspects of the ruling, which could have far-reaching implications for other tokens facing regulatory scrutiny.
Deaton believes that the 2nd Circuit's ruling is unlikely to be delivered for another two years. Until then, the "Torres Decision" remains the prevailing law.
In a tweet, Deaton emphasized that the appeal would create greater challenges for the SEC.
He noted that compared to demonstrating a joint business relationship under the Howey Test, proving an expectation of profit from the efforts of others is significantly more difficult for the SEC.
This statement by Deaton helped mitigate
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