can you still make that case when the recent price rise is based on bitfinex withdrawal issues?
is it though?
Yes, we dont have to speculate about this particular issue. Price on Finex has been 5% to 15% higher than on any other exchange for the very reason of withdrawal problem. In normal market conditions, such difference would prompt traders to arbitage, closing the price gap between exchanges and making profit.
We had exact same situation back in 2013 with Gox. However, apocalypse riders do forget, that Gox didnt bankrupt overnight, thanks to one way money flow it took couple of months before it went definitely under.