XRP And VeChain Win, Bitcoin Steady At $55k And Biden Could Launch Regulation

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A green Sunday shows XRP and VeChain among the winners as Bitcoin remains steady in the $55k price range. Meanwhile Bitcoin supporters are fearful that President Biden’s latest drop in the polls would have him do something significant in order to gain respect of voters, like regulate crypto.

XRP and VeChain win

Both VeChain and XRP are well in the green this morning. The small supply chain coin VeChain had earlier tonight touched upon 12 cents, but is now backing down to 11.5 cents again. It has thus really shown a strong rebound ever since several analysts called a bottom at 9 cents.

Another steady climber this week is XRP. The coin of Ripple labs is now changing hands for $1.19, up 10% in the past day.

Bitcoin steady

Bitcoin closes another good week. After a low of some $41k beginning of September, October is seeing the world’s biggest crypto being traded around $55k, only $10,000 off it’s all time high reached in April of this year.

Itay Tuchman, Citi bank’s global head of foreign exchange admitted institutional interest (read Wall Street firms) in Bitcoin is growing as stock markets declined in the past month.

Like anyone who’s in crypto knows, you start with Bitcoin and you’re down the rabbit hole very quickly.

He said this week

Biden approval falls

Over in the US, President Joe Biden is following up a tough month of August (Afghanistan withdrawal) with an even worse month of September (can’t get infrastructure bill passed, sees support dropping). By now, support for his policies is dropping to incredibly low levels (38% only), which historically means White House administrations take drastic and unprecedented action. Bitcoin commentators fear this will mean regulation is coming.

We’re about to either get federally legalized weed or go to war https://t.co/dUf3oc55B0

— G. L. Di Vittorio (@gldivittorio) October 8, 2021

Ryan Selkis, the famed Bitcoin commentator, said:

Literally the only thing we need is for this administration to not ban private transactions, self-custody, and DeFi. If we avoid the worst, 2022 will make the dotcom boom look like a joke.

VadimVasenin / Depositphotos.com