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Forbes: No Possible Ban for Bitcoin from US Lawmakers

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    The past hearings on cryptocurrencies and blockchain have shown that it will be difficult for US lawmakers to ban Bitcoin, it is better to head it

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According to Forbes,  Tuesday, July 31, the hearings on cryptocurrency and blockchain technology, held at the U.S. Senate Committee on Banking, Housing and Urban Affairs, once again proved the complexity of the Bitcoin ban.

Reversal of rhetoric

Mike Crapo, Senate Banking Committee Chairman, changed the rhetoric, compared with the official positions of the authorities in the past, and said:

If the United States were to decide — and I’m not saying that it should — if the United States were to decide we don’t want cryptocurrency to happen in the United States and tried to ban it, I’m pretty confident we couldn’t succeed in doing that because this is a global innovation.

It is worth noting that not only Crapo spoke about cryptocurrency in a completely different from the ban direction. Some members of the Committee also said that the US needs to lead the cryptocurrency industry and bring technology to legal use. Thus, Senator Cortex Masto Member of the US Democratic Party, uttered encouraging words for the entire crypto-community:

I do think that blockchain technology is the future...I think there’s potential here, and it’s not going to go away, so we need to pay attention to it.

Bright future?

Already, more and more officials are changing their attitude towards Bitcoin and cryptocurrency to positive and past hearings proofs of this. If events continue in the same vein, one can expect assistance from the US authorities to adopt cryptocurrencies.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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