Why Memorial Day Could Mark Change In Bitcoin Trader Sentiment

Also Read: Ethereum, Polygon Developers Skeptical Of OpenAI CEO’s Worldcoin

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In this context, severe criticism was seen against SEC Chair Gary Gensler for his “come, register and comply” policy. Things got even more intense after Gensler failed to answer whether the existing laws are sufficient to govern the crypto asset market.

Change In Crypto Market Soon?

In light of heightened enforcement actions against crypto businesses and the US regional banking crisis, the Bitcoin price has been witnessing sideways movement associated with some loss in value over the last few weeks. Meanwhile, the Crypto Market sentiment was actually dominated by the memecoin frenzy with the likes PEPE Coin grabbing investor attention since its launch in April 2023. In this context, crypto influencer Ran Neuner believes the ongoing regulatory scrutiny could soon ease off as we approach the US election year. Further, he predicted that the SEC may not initiate as many enforcement actions starting from around Memorial Day, May 29, 2023.

Neuner added that Gary Gensler could be replaced from the SEC top post if Republicans emerge victorious in the upcoming US election.

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