- Judge dismisses SEC charges against Binance and CZ, clearing legal hurdles and potentially impacting the crypto market.
- Analyst predicts Bitcoin price surge to $150,000-$200,000 by 2025 after Binance’s legal victory.
- Chart shows Bitcoin’s rise from $10,000 in 2020 to $150,000 by 2025, with a recent strong upward trend and a potential end of bear trap.
In a recent legal development, U.S. District Judge Amy Berman Jackson has dismissed several charges brought by the Securities and Exchange Commission (SEC) against Binance Holdings Limited and its founder, Changpeng Zhao (CZ). The dismissed charges pertain to the secondary market sales of Binance Coin (BNB) and the Simple Earn program, marking a significant moment in the ongoing legal battle between the SEC and Binance.
Legal Victory for Binance
This ruling comes as a victory for Binance and CZ, potentially influencing the broader crypto market. Analysts are closely watching this case, and some have linked this legal win to the recent potential bullish trends in the Bitcoin market. The dismissal of charges provides a clearer regulatory path for Binance, which could impact its operations and the wider crypto industry.
Bitcoin Market Reaction
Analyst Ash Crypto on X has suggested that this development might mark the end of the bear trap, propelling Bitcoin towards an epic breakout. The analyst shared a chart illustrating a projected upward trend for Bitcoin, with prices potentially reaching between $150,000 and $200,000 by early 2025.
#Bitcoin pump will MELT faces
— Ash Crypto (@Ashcryptoreal) June 29, 2024
This will be the End of Bear Trap.
Then prepare for the Epic breakout
towards $150,000 – $200,000. pic.twitter.com/Ye1xGorv2X
Chart Analysis and Projections
The chart shared by Ash Crypto indicates a upward trend, particularly in the latter part of the timeframe from 2020 to early 2025. It shows Bitcoin’s price rising dramatically from around $10,000 in 2020 to peaks well above $150,000 by 2025.
A strong upward movement in recent months is highlighted, with the price nearly doubling. Annotations include a horizontal line indicating previous resistance or support levels and a “BEAR TRAP” annotation suggesting a false downward movement before the sharp rise.
Source: Ash Crypto
Future Implications
While this chart projects a highly bullish period for Bitcoin, it is essential to note that cryptocurrency markets are highly volatile and speculative. The projections extend beyond the current date, so actual prices may vary significantly. Nonetheless, the dismissal of charges against Binance and CZ could be a pivotal moment, influencing market dynamics and regulatory approaches to cryptocurrency.
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The post Judge Clears Binance and CZ of SEC Charges, Analyst Predicts Bitcoin Surge to $200K by 2025 appeared first on Crypto News Land.