Is the Crypto Market About to Enter a Bull or Bear Market?

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Hey folks.

Earlier this year, since the launch of Bitcoin ETF, Bitcoin has recovered and even exceeded the ATH it set during the heady days of the bull market in 2021.

But for weeks, it looks like the leading crypto has been trading sideways.

There have been several positive developments for crypto by in large in latter months. Following the passage of MiCA last year, the European Union is starting to see growth in its own cryptocurrency industry, and other major international centers such as Hong Kong, the United Arab Emirates, and countries in the Caribbean have also been making significant legislative progress.

And maybe more importantly, it finally looks like the regulatory gridlock in the United States is starting to ease up. Recently, the Financial Innovation and Technology for the 21st Century Act (FIT21) was passed by the House last week, indicating the legislative progress that a bill pertaining to cryptocurrency has ever made. For now, the Securities and Exchange Commission of the United States on Ether ETFs did a U-turn.

Although it appears that the stage is set for a breakthrough, the actual future of cryptocurrencies is yet unknown.

Co-founder and CEO of Nodle, Micha Benoliel, is a little more positive about the regulatory shifts that occurred recently, considering the heavy-handed approach by the SEC to crypto oversight has made it challenging to operate a business domestically and drove many businesses overseas.

It may not exactly be clear if the crypto market is on the cusp of another bull or bear market.

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