NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Logs Revenge Recovery as Lagarde Calls for Global Regulation

Yashu Gola
Yashu Gola
4 years ago
3 mins read
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin prices drifted higher on Wednesday, breaking away from bearish calls as Christine Lagarde raised the need to regulate it at the global level.

In an interview with Reuters, the European Central Bank President said that Bitcoin is a highly speculative asset that has facilitated “some reprehensible activity,” such as money laundering, adding that “there has to be regulation” to control its misuse on an international scale.

“This has to be applied and agreed upon […] at a global level because if there is an escape that escape will be used,” she added.

ECB President Christine Lagarde called for global regulation of #Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Follow #ReutersNext updates here: https://t.co/4MgFy4jnw5 pic.twitter.com/qlBtoDuZLW

— Reuters (@Reuters) January 13, 2021

The statements appeared in the wake of Bitcoin’s sharp decline from its record high this week. The flagship cryptocurrency got sold-off at near $42,000 during the weekend over profit-taking sentiment and crashed by almost 29 percent in afterward sessions. Before that, it had rallied by almost 100 percent in just three weeks of trading.

Bitcoin’s high volatility jittered Ms. Lagarde, who reiterated that the cryptocurrency might never become a currency. She called it “a highly speculative asset” notorious for conducting “some funny business” throughout its 11-year lifetime.

A Recovery, Nonetheless

Nevertheless, Ms. Lagarde’s critical take on Bitcoin was not enough to shake its intraday upside sentiment. The cryptocurrency surged by more than 3 percent to $35,954 less than an hour after the ECB chief’s comments entered the wire, breaking away from its choppy trend that clouded the European and Asian session Wednesday.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin breaks above its 20-day exponential moving average resistance wave. Source: BTCUSD on TradingView.com
Bitcoin breaks above its 20-day exponential moving average resistance wave. Source: BTCUSD on TradingView.com

The BTC/USD exchange rate broke above its 20-day exponential moving average wave (green), signaling its desire to log a rebound towards its 50-day simple moving average (blue), followed by a breakout towards its all-time high above $42,000.

Old fractals showed that Bitcoin maintaining 20-DMA as support is a bullish sign.

Tyler Winklevoss, the co-founder/CEO of US-based cryptocurrency exchange Gemini, hinted that investors bought Bitcoin not to speculate but to break free from the “funny business” performed by centralized exchanges in the name of endless money printing.

“Bitcoin is a movement that is here to stay; it is never going away,” he added, reiterating the cryptocurrency as one the top defensive assets against inflation and fiat depreciation.

Bitcoin Long-Term Trend

More investors are looking at the prospects of additional government spendings in the US, as promised by President-elect Joe Biden to aid the US economy. Meanwhile, the Federal Reserve’s commitment to purchase government and corporate debts while keeping interest rates near zero until 2023 is further diverging investors away from cash-based safe-havens to riskier alternatives like Bitcoin.

“There are many institutional investors who bought $BTC at the 30-32k level,” noted Ki-Young Ju, the CEO of CyptoQuant. “Speculative guess, but if these guys are behind this bull-run, they’ll protect the 30k level. Even if we have a dip, it won’t go down below $28k.”

Image by Peggy und Marco Lachmann-Anke from Pixabay

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Best Altcoins to Mimic Trump’s $57.4M Crypto Income – Price Jumps, Staking, and Other Rewards

Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

Donald Trump has disclosed an income of $57.3M from World Liberty Financial tokens. The president filed his public financial disclosure...

Aaron Walker 6 hours ago
Whales Dump Over 270M Cardano In One Week – Bearish Signal Or Shakeout?

Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

Cardano (ADA) is currently consolidating near a critical support zone that could shape the direction of its price action in...

Sebastian Villafuerte 6 hours ago
XRP

Ripple Plans To Take 14% Of SWIFT Volume, USDC Lands On XRPL – What Does This Mean For XRP Price?

Ripple CEO Brad Garlinghouse predicted that XRP could soon take a chunk of SWIFT’s trading volume. Meanwhile, Circle’s USDC recently...

Scott Matherson 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin May Hit $78,500 If This Critical Support Fails – Details

Semilore Faleti 33 minutes ago
Ethereum

Investors Are Fleeing Ethereum, On‑Chain Numbers Reveal

Opeyemi Sule 2 hours ago
Bitcoin

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

Opeyemi Sule 5 hours ago

Premium Sponsors

Top Brands

Press Releases

  • ETHRANSACTION Cloud Mining Will Help You Earn $0 to...

    11 hours ago
  • アルトコイン急落時に注目すべき買いのチャンス|BNB・XRP・SOL・新ミームコインも登場

    ...

    14 hours ago
  • ソラナ基盤の注目プリセールが4,900万ドル調達、仮想通貨投資家にとってローンチ前の最後の購入チャンス

    ...

    15 hours ago
  • ドイツ企業が初のビットコイン準備資産化|今後仮想通貨1000倍が狙える注目の3銘柄

    ...

    15 hours ago
  • ico仮想通貨で再挑戦|900Kドルを集めた新プロジェクトが次の波に?

    ...

    15 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.