Bitcoin Rebounds to $30,000 Despite Gary Gensler’s Warnings -Breaking
- The (BTC) gained 5.63% Thursday.
- Gary Gensler failed to scare investors after warning them that other cryptos could be facing something similar to Terra’s demise.
- CoinMarketCap says that BTC’s current value is $30,287.20.
Bitcoin (BTC), rallied by 5.63% Thursday. This occurred despite Gary Gensler, former Chair of SEC, cautioning investors that there could be more cryptocurrency pain. BTC ended the day with $30,282, reversing its loss of 5.75% on Wednesday.
Bitcoin was at its highest point in mid-afternoon at $30,505. Then, it broke through the First Major resistance level at $30,000.24. This test allowed Bitcoin to resist the 50-day EMA and ended the day at below $30,000.
The US equity market bearish sentiment did not reflect on crypto markets. This means people may now be beginning to consider other options than TerraUSD (UST) or LUNA.
This also means that Gary Gensler failed to scare investors after warning them that other cryptos could be facing something similar to Terra’s demise. Gensler predicted numerous crypto-related failures over the years.