The Crypto market is currently progressing under the fears of “regulation”. It is this fear which is stopping value surges and slowly destroying the crypto investment climate. Whether it is Bitcoin or even Ethereum or else, each and every cryptocurrency of the world is living under this fear of “regulation”.
Very recently, Ethereum value surged by about 2% but soon after the surge, US Government made an announcement. The announcement was particularly from the lawmakers. They suggested that they need to hold a hearing in which the issue of stablecoins will be discussed and debated. In addition, they suggested that it is time to make ‘regulation’ happen.
At present, Ethereum is the talk of the crypto town. For instance, Ethereum 2.0 got to see an increase in its beacon chain balance which was recorded as high as 8.4 Million. Similarly, Ethereum held an auction of virtual lands part of 4 different Metaverse projects of Ethereum. The virtual lands were sold against NFTs worth more than US$ 100 Million.
However, the announcement from the US lawmakers has changed the mindset of Ethereum investors. Their attention is diverted towards the Senate hearing on the issue of stablecoins, which will be held on the 8th of December, 2021. In this hearing, the Senate Standing Committee on Finance & Digital Assets has invited senior personnel from the crypto exchanges as well.
Even those involved in the issuance of stablecoins too have been called upon by the Senate Committee. Within the crypto community, the hearing is assumed to be a “threat” to the global crypto economy.
Nevertheless, on 3rd December (Friday), Ethereum could have managed to earn profits with an average of 80%. However, the opportunity has been missed as a result of the announcement. Right now Ethereum’s value has declined by almost 4%.
The bulls for Ethereum are now in desperate need of a surge upto 4.7%. If the surge finds the place to crawl in, then Ethereum’s value range would be in between US$ 4,500 and 4,700. This will in turn, ensure that 100% profits are made by Ethereum. To the contrary, the job of Ethereum bears is not to let the window open for losses.
So the biggest question seems to be whether Ethereum bulls would be capable of capitalizing week expiry option. As per most of the analysts and experts, the chances of such a possibility are high. Ethereum bulls are looking so resistant that they can easily evade any potential loss of US$ 100 Million.
Prior to the lawmakers’ announcement, however, Ehtereum investors were living a dream. They were dreaming for Ethereum’s price change and going above the 5k benchmark. Unluckily, a hindrance has been placed by the lawmakers. It seems impossible in the given circumstances that Ethereum investors’ dream will come true.