SEC Chairman says happy birthday to Bitcoin founder's whitepaper

Gary Gensler, Chairman of the SEC has tweeted a happy birthday to Satoshi Nakamoto's whitepaper, which was 14 years old on Monday. Gensler is an unlikely one to wish Bitcoin a happy birthday given that he has arguably been extremely antagonistic to the entire cryptocurrency ecosystem and appears to want to suppress it to the best of his ability.

Timeline of Bitcoin

A rebound in the US dollar index reflects traders' hopes of Fed pivoting in the week's interest-rate decision, but Bitcoin remains underbid. Bitcoin showed an impressive performance last week as the flagship crypto surged to $21,000 last Wednesday – its highest since the end of August.

Bitcoin is showing strong signs of consolidation above US$20,000 as the week progresses. Another half a percent was added this morning, bringing bitcoin slightly higher to US$20,600.

Microstrategy, which continues to be the company with largest Bitcoin holding, is scheduled to report quarterly earnings on Tuesday. The company's BTC holdings are currently incurring around 50% unrealized loss over the total investment made to purchase Bitcoin.

Bitcoin [BTC] managed to surpass the $19,000 level towards the end of October. The king coin was constrained to this level for the longest time and made several attempts to move past it.

On 30 October 2022, James Mullarney, the host of the very popular YouTube channel “InvestAnswers”, explained why he expects the Bitcoin price to go above $63,000 by the next block reward halving.

A bullish start of the month! During the last week of October the global crypto market cap moved past $1 trillion and since then the bulls are trying its best to maintain the mark.

Since Bitcoin has been trading above the psychological price of $20K, Glassnode has released its weekly on-chain report titled “Hammering Out The Bottom,” scrutinizing the stakes and the risks that may lay on the road ahead.

Veteran trader Tone Vays is reversing his outlook on Bitcoin (BTC), no longer forecasting an imminent collapse as he had earlier this month. In a new strategy session, Vays tells his 123,000 Youtube subscribers that he is now leaning bullish after Bitcoin and the crypto market traded higher in recent days.

The Bitcoin price is trading in the green during the Asian session, near $20,534 after bouncing off the $20,265 support level. Similarly, Ethereum has increased by less than 0.50% to $1,594 and is on its way to the 78.6% Fibonacci retracement level.

Bitcoin's price fell from its peak of $69,700 to the current average of $19,500. Investors were undoubtedly affected by this 72% price decline, especially those who chose not to liquidate their holdings. As prices continue to move in a sideways trend, the excitement for an impending bull run has begun to fade.