Post
Topic
Board Economics
Re: Binance legally registered at U.S, does Bitcoin will get increase?
by
audaciousbeing
on 25/09/2019, 19:00:53 UTC
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


Yes Binance is a big player in the crypto industry but assuming that would lead to increase in the price of bitcoin is same thing as  saying a McDonald opening additional retail store overseas would increase the price of flour used for doughnut across the world. It does not follow that pattern. What is going to happen is Binance is making a platform for those who felt left out or who are carrying out their trade via other platforms to start patronising and also to see if they can get some fresh people into crypto by their own effort which eventually primarily increases their own bottom line. If the ripple effect led  to an increase in bitcoin price, that's is simply a bonus.