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New SEC Commissioner Supports Bitcoin ETF

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Bitcoin ETF
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The US Senate confirms a new addition to Securities and Exchange Commission — Elad Roisman, a known Republican lawyer. He is a Bitcoin ETF supporter.

Elad Roisman becomes the SEC commissioner

An important new development in Washington has seen the lawyer Elad Roisman join the US SEC, as confirmed by the Senate. This means that the SEC is once again at full strength, with the addition of the fifth member.

Elad Roisman has spent the last several years working on the Senate Banking Committee. During this period, he rose to a position of the chief counsel of the panel. Now, he will take his place on the US SEC, succeeding Michael Piwowar, after he decided to step down in July of this year.

The US SEC is a large agency. numbering over 4,600 individuals, and is mostly run by Jay Clayton, its chairman. Clayton was appointed by the US President Donald Trump. The SEC’s four commissioners are in charge of voting for any new regulations, and they are the ones who decide whether a new proposal gets approved or not. While they do not manage the staff of the SEC, they can negotiate regulations with the chairmen.

Roisman’s role

Ever since Clayton took over as a chairman, the SEC had only six months of being at full strength, with all four seats taken. This ended with the departure of Piwowar. Now, however, with Roisman joining the team, the SEC is at full strength once again. Additionally, Roisman will join when the need for the majority of commissioners to approve new rules and regulations.

Imposing new constraints on those stockbrokers dealing with investors in retail are one of the best examples of this. According to the proposal by SEC, brokers would have to act in a way that will benefit their clients. The Democratic commissioners were not exactly thrilled with this plan, and they did not try to hide that fact. This is why Clayton will likely need Roisman’s vote quite soon.

Additionally, Roisman might also assist in various deregulatory proposals that will allow firms to raise additional capital through stock and debt sale. Clayton’s goal seems to be to allow additional individual investors to private markets. At the same time, he would scale back the necessary requirements on smaller firms. He recently said so in front of an audience, calling for exempting small firms from the need to audit their inner control.

Finally, Roisman will be the newest commissioner that will join the SEC after previously working in the Senate. Another commissioner, Ms. Peirce, used to be a banking panel stagger. While working at the Senate, Roisman assisted at drafting a legislation that brought new financial regulations after the financial crisis 10 years ago.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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cryptocurrencies
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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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