Bitcoin Consolidates Amid BTC Purchase Declaration from US Senator
Login

Bitcoin Consolidates Amid BTC Purchase Declaration from US Senator

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Pro-Bitcoin Senator, Cynthia Lummis, has disclosed that she purchased Bitcoin (BTC) in a periodic transaction report (PTR).

According to the filing, the Wyoming Senator bought between $50,001 and $100,000 worth of BTC on August 16. At the time of purchase, the benchmark cryptocurrency traded at $45,000.

That said, this disclosure comes seven days outside the mandated 45-day reporting window according to the Stop Trading on Congressional Knowledge (STOCK) Act. The law requires that members of the US Congress disclose every purchase or sale of individual stocks, bonds, and Commodity futures with $1,000 and above within 45 days after the transaction.

In an interview with CNBC, a spokesperson from the Senator’s office noted that the delay in disclosure came due to “a filing error,” explaining that:

“Once we realized [the error], we worked with the Ethics committee to fix it. It was an honest mistake, and the issue has been resolved without penalty.”

The Senator’s BTC purchase in August came after she noted that she would “buy the dip” as the price fell to $30,000.

Senator Limmins remains an ardent supporter of Bitcoin. The Senator revealed that she bought her first BTC in 2013 for only $330 and owned 5 BTC as of June. She declared in February that:

“I still think it is an excellent store of value and that it should be part of every individual person’s investment portfolio.”

Key Bitcoin Levels to Watch — October 10

Bitcoin has entered a prolonged sideways momentum as bulls run out of steam. That said, the benchmark cryptocurrency faces a threat of a bearish correction to the $52,500 region if bulls fail to clear the $56,000 barrier in the coming hours.

BTCUSD – 4-Hour Chart

This bearish inclination comes amid cautions of BTC trading in overbought (greed) market conditions. Nonetheless, the coming hours are critical to the short-term price direction of the flagship cryptocurrency.

Meanwhile, our resistance levels are at $56,000, $56,700, and $57,000, and our key support levels are at $54,000, $53,000, and $52,500.

Total Market Capitalization: $2.32 trillion

Bitcoin Market Capitalization: $1.03 trillion

Bitcoin Dominance: 44.8%

Market Rank: #1

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News