Is the Fed Becoming More Receptive to Crypto? Potential Impact on Bitcoin (BTC) and VC Spectra (SPCT) Prices

Is the Fed Becoming More Receptive to Crypto? Potential Impact on Bitcoin (BTC) and VC Spectra (SPCT) Prices

One recent development that has caught the attention of crypto enthusiasts is the U.S. Federal Reserve’s potential shift towards greater receptivity to the crypto industry. This shift could have far-reaching implications for top altcoins like Bitcoin (BTC) and new ICOs like VC Spectra (SPCT). 

Let’s explore the Fed’s changing stance on crypto and examine its potential impact on the prices of Bitcoin (BTC) and VC Spectra (SPCT).


New Directives From The Federal Reserve: Is Crypto Welcome?

The U.S. Federal Reserve has initiated a new program to oversee banks’ cryptocurrency activities, clarifying the need for approval before engaging in digital asset operations. This move, part of the “novel activities supervision program,” involves the Fed’s digital asset specialists collaborating with regular regulators without altering existing rules. 

It also outlines requirements for banks dealing with stablecoins, emphasizing the importance of safe and sound practices. While securing approval may be challenging, this proactive approach by the Fed signifies a step forward for the crypto world, demonstrating a willingness to engage with and regulate digital assets while addressing associated risks.

Bitcoin (BTC) Will Take Advantage Of New Regulations

On September 22, 2023, Bitmain, a prominent cryptocurrency mining device manufacturer, unveiled ambitious plans to invest $53.9 million in Bitcoin (BTC) miner Core Scientific. This strategic investment entails Bitmain supplying 27,000 Bitcoin (BTC) mining devices to Core Scientific, with $23.1 million in cash and $53.9 million in Core Scientific common stock as part of the deal.

Bitmain’s CEO, Max Hua, emphasized Core Scientific’s dedication to Bitcoin’s (BTC) network growth, underlining this investment’s positive impact on the Bitcoin future. This announcement immediately affected Bitcoin’s (BTC) price, surging 1.79% from $26,571 on September 22 to $27,047 on September 29.

Interestingly, this development aligns with recent moves by the Federal Reserve to oversee and regulate cryptocurrency activities, a sign of increased acceptance and engagement with the crypto world by regulatory authorities. Bitcoin (BTC) stands to benefit from such regulatory clarity and involvement, contributing to a more optimistic BTC price prediction.

By October 2023, Bitmain’s delivery of 27,000 Bitcoin (BTC) mining devices to Core Scientific is expected to add a substantial 4.1 exahash of mining power to Core Scientific’s operations. The result of this high hash rate on the Bitcoin future remains to be seen.

Regardless, Bitmain has noteworthy implications for the Bitcoin future, leading experts to predict a price of $30,071 for Bitcoin by October 2023. This represents a remarkable 22% increase from BTC’s price on September 22, 2023.

VC Spectra (SPCT) Will Surge 33.33% In Upcoming Presale Stage 4

VC Spectra (SPCT) is on the verge of a significant milestone with the upcoming Stage 4 of its presale. This blockchain asset management platform has been making waves as the best ICO of 2023, and it’s not without reason. VC Spectra (SPCT) stands out due to its commitment to investor safety

It employs a stringent project selection process led by venture capitalists and risk managers who meticulously evaluate project viability, team expertise, roadmaps, and portfolio alignment. This rigorous approach minimizes risks, ensuring investors are exposed only to the most promising and credible opportunities.

The platform’s native token, SPCT, adheres to the BRC-20 standard on the Bitcoin blockchain and employs a deflationary mechanism. This design gradually reduces the token supply, potentially increasing its value over time, which is an attractive feature for long-term investors.

VC Spectra’s (SPCT) presale performance has been impressive. Early investors saw a substantial 312.5% return as SPCT surged from its Stage 1 price of $0.008 to $0.033 in Stage 3. 

Stage 3 investors have already experienced a 32% ROI as the token reached $0.033 from early. With Stage 4 on the horizon, offering a planned price of $0.044, investors can anticipate another 33.33% potential profit.

Furthermore, investors will reach a total of 900% ROI as the target price of $0.08 is achieved right before the launch on major crypto exchanges, making it the best crypto to invest in now.     

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Disclaimer: This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated. 

By accessing and reading this article, you acknowledge and agree to the above disclosure and disclaimer.

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