Bitcoin Price Prediction: Dips to $46,000 Amid SEC Security Flaw & ETF Turmoil
In a market marked by heightened sensitivity to regulatory actions, Bitcoin’s price experienced a notable dip to $46,000, reflecting nearly 1.50% decrease on Wednesday. This latest fluctuation in the world’s premier cryptocurrency comes amid news of a security oversight at the U.S. Securities and Exchange Commission (SEC).
A failure to enable two-factor authentication led to misinformation regarding a Bitcoin ETF. It added to the ongoing turmoil and uncertainty in the digital asset space. This incident underscores the intricate relationship between regulatory dynamics and the volatile cryptocurrency market. Moreover, it further influenced investor sentiment and Bitcoin’s price trajectory.
The U.S. Securities and Exchange Commission (SEC), a key financial regulatory body, recently faced a security issue when their official social media account was hacked. The X Safety team reported that this breach occurred due to a SIM swap attack – a type of hack where the attacker takes over someone’s phone number. Surprisingly, the SEC’s account didn’t have two-factor authentication (2FA) enabled, a basic security measure, which made the breach easier.
