Embracing Regulation Is Good for Bitcoin, Analyst Says

Bitcoin is treading water since testing the $6,000 level for ground in early February 2018. The previous bullish momentum was capable of printing its all-time high near $20,000, but many questions have arisen since then, particularly in regard to regulatory grey areas. Adoption and compliance to governments regulation for the cryptocurrency market and initial coin offerings (ICOs) are expected to drive the price of Bitcoin upwards.

Fundstrat’s Tom Lee Says Bitcoin Could Shoot up as Coinbase and Circle Seek SEC License

Coinbase, the largest U.S. cryptocurrency exchange, is attempting to become a fully SEC-regulated brokerage firm and electronic-trading venue in order to better navigate the financial system and become a valuable option for retail and institutional players. For that purpose, the operator has announced it will acquire Keystone Capital.

This move is evidence that regulation is smoothing out and could be an uplifting variable for Bitcoin prices, according to Tom Lee,…