Regulatory Clampdown is bottle neck for Binance Exchange

Hello friends,

I am doing good, and I hope that you are having a good time with your near and dear ones.

These days we get to see a lot of regulatory updates in the Bitcoin and the cryptocurrency market which is good and bad both at the same time. I believe it is good that the government is trying to bring more regulation on the crypto exchanges but the way they are doing is affecting it negatively

Some of the countries have already announced how they are going to allow the exchanges to run the operation. The US is also one of the countries where we have seen a lot of issues ongoing in the last couple of months. Many top exchanges are affected because of the ongoing regulatory issues in the market and Binance is also the one. Because of these, the exchange has also observed a decline in the market share.

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Not just Binance but other exchanges like Coinbase and Gemini Exchanges are also struggling because of the ongoing compliance issues in the US. I have gone through some of the historical updates that have happened in the Crypto market starting from the last bull run and now. I found that this is not the first time when we are seeing a lot of negativity in the market and somewhere it seems like a plan where wheels are filling their bags. I can't say whether this time also it is a plan and probably this can be a real situation but in the past, it has happened when the whales were able to bag a lot of Bitcoin at a low price. big investors are in the market to make money and for that reason, they buy at a low price and sell at a higher. This is the strategy that they follow to make money in this market.

People are expecting the bull cycle in the next year after Bitcoin halves So if that happens then whoever is buying Bitcoin now will be very happy because most likely it will cross its all-time high and will create a new one. what are your thoughts and view about the current crypto market and do you think that Bitcoin will reach $30K or even $20K from the current price?

Thanks a lot

Posted Using LeoFinance Alpha