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BTC/USD Forex Signal: Bitcoin Consolidation to Continue

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The $BTCUSD pair continued consolidating as the market reflected on the new cryptocurrency bill in the US and the upcoming consumer inflation data.

Bitcoin continued its consolidation phase as investors reacted to the latest cryptocurrency bill in Washington.

Most people in the industry believe that the bill is a good one since it simplifies the regulatory situation of the industry. Most importantly, it will remove the conflict that exists between the SEC and the CFTC in determining who will regulate what. The next key catalyst for the BTC/USD pair will be the upcoming Consensus event in Texas. The event, which is hosted by Coindesk, is the most important one in the industry. It will feature most of the most important people in the sector, including regulators and developers.

 

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