How Will Bitcoin Respond To Its Biggest Listing Yet? The United States

Tony "The Bull" Severino

4 years ago

3 mins read

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Bitcoin price is at a pivotal moment, potentially ready for a breakout into a new bull trend. The crypto market has just been watching and waiting for the right spark.

Crypto assets typically pump when they’re listed on a new exchange or platform. The spark the crypto world may have been waiting for could be here with the figurative listing of Bitcoin on every United States bank in the world.

United States Banks Can Now Custody Crypto, OCC Clarifies

Yesterday, the crypto community erupted with applause over a clarification from The Office of the Comptroller of the Currency (OCC) that banks across the US could custody cryptocurrencies for their customers.

Institutions ranging from national banks have long stored cash, gold, and other personal items of value or importance for their customers. The OCC says it recognizes the “importance of digital assets,” and therefore wanted to make the clarification for banks to provide such services.

Services will include “holding unique cryptographic keys associated with cryptocurrency,” and “activities related to custody services.”

“Crypto custody services may extend beyond passively holding ‘keys,'” a declaration from the OCC reads.

“From safe-deposit boxes to virtual vaults, we must ensure banks can meet the financial services needs of their customers today,” explained Acting Comptroller of the Currency Brian P. Brooks.

The OCC also sees the need for banks to build infrastructure ready for the regular custody of digital assets, likely due to the United States eventually coming to terms with a digital dollar.

Bitcoin BTCUSD Weekly Long-Term Uptrend | Source: TradingView

Will Bitcoin Pump On The Equivalent Of A US-Wide Bank Listing?

Bitcoin price is trading sideways after several months. The asset’s halving is now in the past, and the asset’s physical counterpart, gold, has been soaring for the same reasons BTC is supposed to.

Yet the cryptocurrency isn’t moving until someone strikes a match and lights the fuse. An explosive move is expected, and it may finally be here following this groundbreaking news.

When cryptocurrencies are listed on Coinbase or Binance, they often pump sky high due to the nod of support and sudden interest from new customers. Could the same thing happen now to Bitcoin and crypto now that every bank in the US has the green light to provide crypto custody?

The barrier to crypto adoption has long been the bewildering Bitcoin and blockchain interface. Front-end and second-layer technologies are needed for the mainstream to take notice. Proper and familiar faces to store crypto with is another important factor.

All of this is now coming together, just as Bitcoin looks to be breaking out of its long-term price pattern, and continue its long-term uptrend.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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