Quote from: ancafe on June 23, 2023, 05:56:42 PM

Quote from: sulendra12 on June 23, 2023, 12:13:29 PM

It would be badly hurt in big scale because Binance is one of the most reputable exchange out there and if Binance goes down, Bitcoin's price would be dumped really bad. Even small exchanges could affect the price and imagine if Binance having the same fate as those? But in the end, Bitcoin's price will be recovering after whatever happens, it just takes time to recover.

If you pay attention to today's market conditions, there is an illustration of how bitcoin has experienced a gradual recovery from the SEC lawsuit against binance. The effect is only short term and I think bitcoin has gone through that process for now. Even though binance is a large exchange that has a good reputation, in reality not all of the impact that was caused by them made bitcoin corrected in the long term.

The loss you mean also doesn't have any effect when the user doesn't look panicked by the conditions that are happening, so that at the right time bitcoin has recovered as it has in the past few days. So this is an illustration, that when an exchange experiences the same problem, you don't need to worry too much.

Despite impactful incidents like the SEC' clash with Binance, Bitcoin's mettle outshines. Given Bitcoin' intrinsic decentralized character that diffuses any single authority's control, its hardly a shock. Its crucial not to undervalue the power of perception and user confidence. As you accurately pointed out, the absence of widespread panic was instrumental in Bitcoin's value rebound, echoing the power of our collective faith in Bitcoin's robustness and potential.

However, I believe this highlights the urgency for definitive regulation. Addressing such predicaments in a structured manner could heighten Bitcoin's credibility. So, even as we commend Bitcoin's resilience, we must simultaneously advocate for a transparent, balanced regulatory framework that serves users and maintains market stability.