The recovery of Bitcoin to$10,000 has led to a new projection that the token might hit $100,000 by 2021.This expectation comes after the eccentric and unpredictable market moves ofBitcoin.

Bitcoin enthusiasts who arebullish about the token are expecting the coin to explode over the next twoyears. For now, the market has chased away the Bitcoin bears.

Alex Mashinsky, chief executiveof the New York-based crypto lending platform, stated that he never thoughtthat the Facebook founder's testimony had gotten the investors worried about anintrusion from regulators. Most of the questions with the Facebook founder didnot have anything to do with cryptocurrency or the Libra. However, the cryptocurrency markets have brightenedup after the Chinese leader Xi talking about blockchain technology.

“Stablecoins Are Securities Actof 2019” is a bill that discusses managing stable coins. The regulation requires that the managedstable coins are to be treated as securities under the SEC. The current issue with the Bill is related tohow broad the definition relates to.

Congressman Warren Davidson (R-OH) stated, "There's Bitcoin, and Then There's Shitcoin (Libra).”  Libra has been thinking of creating stability; however, with the coming of the Bill it might shift to being backed by Fiat currencies to avoid the security label.

The Bill states that the SEC canissue rules and regulations further to define the term "managed stablecoins" and "digital coins" further on.

With the game for the Bitcoinbeing on over again, investors are contemplating whether this is a real bullishbreak. The MACD for the BTC/USD iscurrently moving in the bearish zone. The 4 hours RSI is moving to the lower area, and it is close to the 50levels. Major support level is seen at$8,500, and Major Resistance level is seen at $9,500.

The recent move of the Bitcoin isconsidered to be an influential trendsetter as Bitcoin has been trending versusseveral other popular search terms. The Bitcoin price took from $7,400 to $10,500 before it fell to$9,000, where it is currently trending.

Yassine Elmandjra, a Bitcoin analyst,tweeted: "The previous two timesBitcoin saw a >40% daily gain, it was trading at $0.40 and $5.65. Today, Bitcoin’s 42% swing is the 3rd largestdaily gain in the price history.”

Tether is busying minting more ofUSDT with which it expects investors to buy the Bitcoin. This is an incrediblybullish signal.