Ruibo and SEC have no hope of settling bitcoin, which is more than 50000 U.S. dollars, forming difficulties in the short term

The U.S. Securities and Exchange Commission and ripple said today that there is little possibility of resolution until the expected trial of blockchain payment companies for suspected securities violations. According to the Wall Street Journal, on December 22, the SEC accused ripple of violating investor protection laws in selling XRP, and is preparing to sue the company in federal civil court. This led to a 70% drop in XRP. Although it has returned to the level before the crash, there is still no result for the SEC prosecution, which is still a thunder of XRP. The first pre-trial meeting between sec and SEC will be held on February 22, and the first amended appeal will be submitted before February 19, 2021. Most people hope that before this time, REBO will be able to pay a fine before the SEC charges, such as EOS, which is crucial for stabilizing the XRP price, but according to today’s report, this hope may be defeated. For a long time, the relevant personnel of REBO have been taking a tough attitude towards the SEC’s prosecution, insisting that XRP is not a security and that the SEC is “wrong in law and fact” and is ready to withdraw from the US market. A paper filed by the U.S. District Court for the Southern District of New York to federal judge anliza Torres showed that the issue had been discussed earlier and that they “did not believe in the prospect of reconciliation at this time.” They further pointed out that the previous reconciliation discussions were conducted under the leadership of the trump administration, mainly with department heads since the SEC left. On the other hand, the document refers to the statement that the trial is about to take place, and there is a formal procedure in which the two parties agree (or disagree) to exchange the witness and the evidence to be presented by the witness. Notably, the SEC told judges in Monday’s filing that it was seeking to make five charges in addition to the 10 charges normally allowed. “Ripple and Larsen (Executive Chairman of ripple) have received two legal memoranda warning them that XRP may be considered an” investment contract “and that there is a risk that XRP is a security under federal securities law.”. Ripple refused to comply with the document, which stated that the document was a lawyer client privilege, and that the SEC’s request was “improper and without legal basis.”. Regulators said in the filing that the SEC may ask the court to force ripple to provide documents and related testimony. The REBO event may increase the price risk of XRP. Affected by the news, XRP showed a correction today, down 2.4% in 24 hours, and is now at US $0.554. The price is close to the level of December 21. Judging from the current information, the lawsuit between sec and REBO may start as scheduled. However, there are few victories in the confrontation between the encryption company and the SEC in the past years. The probability of Ruibo winning this lawsuit is not big. The biggest impact is the price of XRP, and there may still be a callback. The holder should pay more attention to the whole process of the event development, stop loss in time and do a good job in risk management. Bitcoin stands at $50000, which is still an important pressure level. Today, bitcoin once hit an all-time high of US $50000, with the highest bitcoin spot value of US $50000 on the OK exchange, US $49999.99 on the firecoin exchange and US $49998 on the coin security exchange. But after that, bitcoin prices continued to break through in the future, now falling back to $49029, up 2.6% in 24 hours. According to the cointegraph report, a negative BTC / USD premium means that the accumulation will last longer, which means that it may still need to wait for $50000 for support. In short, bitcoin’s $50000 may not break through in the near future. Negative premium slows bitcoin’s upward trend. On February 16, Ki young Ju, CEO of cryptoquant, a data analysis company on the chain, stressed that the so-called “coinbase premium” is one of the last obstacles for BTC / USD, because $50000 is actually unbearable for bulls. Ki analyzes that the premium makes the coinbase BTC / USD price relative to the binance BTC / usdt pair, and Ki believes that a higher price is still unlikely until the same level. At present, the index of coinbase premium, which measures the price difference between the BTC / USD pair of coinbase pro and the BTC / usdt pair of binance, continues to be negative. The negative premium indicates that the inflow of institutions is weak. That means it’s cheaper to buy bitcoin on coinbase. The end result is that major traders, especially whales, will continue to accumulate. Only when the balance stabilizes can bitcoin prices rise to $50000. “This $50000 battle is about coinbase whales (USD) and stablecoin whales (usdt),” ki wrote Bitcoin, which hit a new high of nearly $50000 this morning, has ruled out excessive bullish leverage in the derivatives market as the derivatives market plummeted on Monday. Although the decline is short-lived, it is still difficult to break through $50000 so far. Patrick Heusser, head of trading at crypto finance Ag in Switzerland, said bitcoin now needs help from spot buyers to rise above $50000. “Every derivatives industry has done a good job and looks exhausted,” Heusser said He added that if spot buyers continue to wait and see, the price could be between $44000 and $50000. Bitcoin’s recent rise from $40000 is mainly due to leverage on derivatives and a reduction in spot market trading volume on institutional focused exchanges such as coinbase pro. In the traditional market, the US futures market continued to rise yesterday. Dow Jones futures rose 0.8%, standard & Poor’s 500 futures rose 0.7%, and Nasdaq 100 futures rose 0.7%. Europe’s Stoxx 600 rose 1.3%, the UK’s FTSE 100 rose 2.5%, and the pound rose to its highest level of $1.39 in nearly three years. These good news should be treated with caution for bitcoin, which may be negative compared with the short-term price innovation of special currency. It may take some time for bitcoin with $50000 to be achieved. At the time of this article, bitcoin was at $49337, up 2.92% in 24 hours.

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