Quote from: Sayeds56 on Today at 02:09:47 AM

Quote from: Bushdark on June 13, 2023, 08:10:49 PM

This issue is happening in the United States and I think it's only going to affect the Binance US alone since that is where the major problem is coming from. I still don't get why Garry had taken it upon himself to attack exchanges and making them to shift away from the United States since it looks like the law is too tough for them to be able to stay safe in the region without problems. Garry had been accused multiple times if manipulating the market for his own selfish interest and if this continues it could affects his reputation as a public figure.

I think the actions taken against Binance and Coinbase exchanges will extend beyond USA and have far reaching consequences. The confidence of investors is severely shaken and it will take long time to restore it. As we all understand that crypto market is very volatile and generally driven by sentiment of participants, which is currently very negative and evident from outflow of funds from exchanges.. However, despite recent developments, the leading crypto currencies, Bitcoin and Ethereum have not been significantly impacted and gradually recovering their previous price levels.

If it has been shaken, then we should be seeing less than $20k price at this point? But what the price seems to hold and in the long term doesn't have a effect on the price of bitcoin itself?

It's because there are investors who are smart not to get affected by this negative news. It's only those from the US that might be affected in Binance.US moves out of that country. But then again, all exchanges might follow suit as well. Coinbase has plans already, so it's just a matter of time that exchanges going out of the US market. For sure it might not be good as US is the biggest bitcoin investors, nevertheless, we are still have that bitcoin halving next year that will be the catalyst for the bull run that no one ca stop, not even SEC or US government for that matter.