Bitcoin Price and Binance | Bitcointalksearch.org

Distinctin

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Quote from: michellee on May 24, 2019, 11:44:11 PM

Quote from: WinslowIII on May 24, 2019, 05:55:06 PM

How can this hack be unrelated to the bnb pump considering the time frames? I'm thinking inside job, steal users bitcoins to pump their shitcoin?

That could be true because, with the stolen bitcoin, they can do whatever they want, especially to pump their coin. But I don't believe if bnb do that to increase their coin because binance was one of the best exchange so far. But well, we never know the right situations that happen in binance, and we could only guess of what is happening in binance.

BNB is one of the most potential coin in the market, I don't think that hack would make their business fail, they are just too big that can pose threat to other coins, with people trusting them, that make them grow their business even more, and the price represent it and proved it.

Inside job or whatever it is, BNB is still undeniably successful and seems like it will not stop leading the uptrend at this bullish season.

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Quote from: WinslowIII on May 24, 2019, 05:55:06 PM

How can this hack be unrelated to the bnb pump considering the time frames? I'm thinking inside job, steal users bitcoins to pump their shitcoin?

That could be true because, with the stolen bitcoin, they can do whatever they want, especially to pump their coin. But I don't believe if bnb do that to increase their coin because binance was one of the best exchange so far. But well, we never know the right situations that happen in binance, and we could only guess of what is happening in binance.

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Quote from: samcrypto on May 24, 2019, 08:56:45 PM

Quote from: Hypnosis00 on May 24, 2019, 06:34:54 PM

Quote from: WinslowIII on May 24, 2019, 05:55:06 PM

How can this hack be unrelated to the bnb pump considering the time frames? I'm thinking inside job, steal users bitcoins to pump their shitcoin?

There is no proof that it is an inside job or whatever it happens, they'll just announce that they've been hacked.
It is not an issue anymore, Binance has passed it already and they are back into operation. The good thing is that it won't affect the entire marker price knowing that Binance is one of the most known exchanges in crpypto. We are looking that no other exchanges will be hacked cause it something gives destruction and doubts to the traders.

I doubt it, i think many exchanges will be hack in the future we have to remember that hackers are also updated in terms of technology and they can do everything. If its inside job then Binance have a better purpose on doing that, its price right now is still increasing so the hacked incidents doesn't make big impact on the technology of BNB. The price of bitcoin will not depend on the exchanges, its still pumping and dumping despite of the lift on withdrawals and deposit of BNB.

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Quote from: Hypnosis00 on May 24, 2019, 06:34:54 PM

Quote from: WinslowIII on May 24, 2019, 05:55:06 PM

How can this hack be unrelated to the bnb pump considering the time frames? I'm thinking inside job, steal users bitcoins to pump their shitcoin?

There is no proof that it is an inside job or whatever it happens, they'll just announce that they've been hacked.
It is not an issue anymore, Binance has passed it already and they are back into operation. The good thing is that it won't affect the entire marker price knowing that Binance is one of the most known exchanges in crpypto. We are looking that no other exchanges will be hacked cause it something gives destruction and doubts to the traders.

I doubt it, i think many exchanges will be hack in the future we have to remember that hackers are also updated in terms of technology and they can do everything. If its inside job then Binance have a better purpose on doing that, its price right now is still increasing so the hacked incidents doesn't make big impact on the technology of BNB. The price of bitcoin will not depend on the exchanges, its still pumping and dumping despite of the lift on withdrawals and deposit of BNB.

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Quote from: Hypnosis00 on May 24, 2019, 06:34:54 PM

Quote from: WinslowIII on May 24, 2019, 05:55:06 PM

How can this hack be unrelated to the bnb pump considering the time frames? I'm thinking inside job, steal users bitcoins to pump their shitcoin?

There is no proof that it is an inside job or whatever it happens, they'll just announce that they've been hacked.
It is not an issue anymore, Binance has passed it already and they are back into operation. The good thing is that it won't affect the entire marker price knowing that Binance is one of the most known exchanges in crpypto. We are looking that no other exchanges will be hacked cause it something gives destruction and doubts to the traders.

Thanks for the most fucking idiotic reply of the year.

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Quote from: WinslowIII on May 24, 2019, 05:55:06 PM

How can this hack be unrelated to the bnb pump considering the time frames? I'm thinking inside job, steal users bitcoins to pump their shitcoin?

There is no proof that it is an inside job or whatever it happens, they'll just announce that they've been hacked.
It is not an issue anymore, Binance has passed it already and they are back into operation. The good thing is that it won't affect the entire marker price knowing that Binance is one of the most known exchanges in crpypto. We are looking that no other exchanges will be hacked cause it something gives destruction and doubts to the traders.

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How can this hack be unrelated to the bnb pump considering the time frames? I'm thinking inside job, steal users bitcoins to pump their shitcoin?

BitHodler

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Quote from: LimLims on May 23, 2019, 08:59:22 PM

As of now, i currently dont know what's the status of Binance withdrawals.
But 3 days ago when i checked it, it was disabled. Maybe at the current moment it has been fixed. But i cannot say it confidently.

Not sure what coin(s) you tried to withdraw, but 3 days ago the Bitcoin withdrawal option was working just fine, so did it the days after. Maybe you tried to withdraw an altcoin with network issues, which is more likely.

Quote from: LimLims on May 23, 2019, 08:59:22 PM

I mean the price doesn't gets affected with Binance.
So keep these misconception out of your mind.

It's not a misconception. People rightfully believe that it can cause the price to go down, and it briefly did till people realized that losing 7000BTC isn't all that bad with how these coins are taken out of circulation.

If you take that into consideration, and the fact that safu has the funds to fill up the gap, there was no longer an obstacle for traders and investors to worry about. I do wonder though, how much is left in the safu fund?

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Bitcoin has been stale for couple of days now, I do not remember when was the last time we had a 10% day last time because we have reached 8 thousand dollars (and went back down for a bit and got back to 8 thousand but I do not count that as an increase) so I am not sure if binance is somehow related.

Maybe the people who hacked binance finally figured out a way to put that money into some exchange or somewhere and they are starting to sell their coins, it is 7 thousand bitcoins after all and if you sell them all at once you are going to break the market so they are selling it at a stable price in multiple exchanges that keeps the price not going above 8 thousand dollars but not dropping neither, like a cap on the price. If that is the case then we will go back up in price again with a bull rally as soon as their 7 thousand bitcoins are done selling.

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Quote from: coinluisa on May 23, 2019, 06:21:17 PM

Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

I think there's no any problem if their withdrawal open again because everything is on traded to their exchange. Maybe some people think because of hacking in Binance the price will be down, but no because still Binance is professional and do their best for their exchange.

They able to cope using the safu, traders only concerned with that freezing withdrawal as funds are stuck from the exchange but Binance able to
solve and allow again the process, it's good to see that after this incident the temporary fall was already rising back again.

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Quote from: SaShiRaJaVu on May 22, 2019, 01:22:10 PM

Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

How come a price increase is triggered by a hack news, check out the past history as we have seen many hacks in the market in our short history and basically whenever there is a hack news, the market tends to come down drastically, but that was not the case with Binance, the market went higher even though the loss was really huge, it shows that the market is not responding to the hack news anymore and binance is not the only exchange in the market Tongue

.

Because binance has very big reserved funds and all of the stolen amount will have recovered using it and that's why investors are still feeling confident with it. Not all of the hacked cases caused the big down instantly. Some of them are still stable. Remember as long as the company will still take all of the responsibility and the price will be fine and nothing happens.
Investors just need clarification and responsibility from that exchange site.

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As of now, i currently dont know what's the status of Binance withdrawals.
But 3 days ago when i checked it, it was disabled. Maybe at the current moment it has been fixed. But i cannot say it confidently.
Moreover it's really an easy task to say that, the Both is not connected.
I mean the price doesn't gets affected with Binance.
So keep these misconception out of your mind.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

I think there's no any problem if their withdrawal open again because everything is on traded to their exchange. Maybe some people think because of hacking in Binance the price will be down, but no because still Binance is professional and do their best for their exchange.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

There is no impact on the price of Bitcoin and withdrawals in Binance. Actually if you observe the price of Bitcoin lately, it continues to go up specially before the weekends and start of weekday, the price will continue to climb unlike before, weekends price of Bitcoin starts to go down and price will slightly recover at start of weekday again.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

I can't find any relation to that.
Probably investors found a good level to buy more, move the market upwards and then sell at a higher price. I think that what triggered the price to go up was the fact that the price was stagnant around 5k for a long period of time.

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Quote from: KlepZ on May 22, 2019, 12:14:47 AM

Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Binance has suspended all deposits and withdrawals as they have to conduct a thorough security review that will 'include all parts of our systems and data, which is large'.
Binance wil reopen deposits and withdrawals on Wednesday May 15, at around 11AM UTC. Trading will be halted for about 8 hours during the system upgrade.

I don’t get what you just said here, you are talking as if the event has not passed already, you are commenting in the 22nd and still referring to 15th like it has not happened, if they scheduled to open reopen the withdrawal on 15th, which means they must have done it by now, and I still don’t see any effect of it on bitcoin value, I don’t know why people would just believe that this type of thing that happened to Binance will have any effect of the bitcoin price. Is it a product or is it whales, or is the even an investors? Reopening their system to withdrawal will in no way affect the price of bitcoin.

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I am not sure if they are correlated but it is definitely not a shock that binance was hacked after bitcoin got some more attention yet again. People see hacking as a way to make easy money and if there is an option to make a lot of money via hacking binance than they will use it, just like anything else in bitcoin when price is going down than the hacking attempts go down with it but when bitcoin price goes up the hacking attempts go up too.

So, I don't know if binance caused any price changes when it was hacked or not but I am 100% sure it was hacked because of the price change, it is vice versa of everyone believes. Now that its back and stronger than ever I am sure people will continue to try to hack it and I am sure binance will defend itself from 99.99% of it.

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Quote from: KennyR on May 22, 2019, 09:43:01 AM

Bitcoin price hasn't got anything specific with the growth of Binance at this time. From my understanding Binance is completely independent, and the same have been seen in recent days with the growth of Binance even after its hack. Over the months BNB will grow along with bitcoin and as a result it could reach around $80 when bitcoin cross $15k

I am not entirely sure about the growth of binance when they literally lost $40 plus million dollars, throughout history any exchange that got hacked will not sustain for a long period of time, take a look at Mt Gox, when they were hacked initially they said they are fine and gave false sense of security to the public but then later found that the hole was too deep to recover, CZ is doing the same here, what happens if we see more hacks in binance and more coins being lost to these hackers.
The price of bitcoin did not react with this major hack not sure what the reason is and i am surprised by the market movement.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

How come a price increase is triggered by a hack news, check out the past history as we have seen many hacks in the market in our short history and basically whenever there is a hack news, the market tends to come down drastically, but that was not the case with Binance, the market went higher even though the loss was really huge, it shows that the market is not responding to the hack news anymore and binance is not the only exchange in the market Tongue

.

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Quote from: KennyR on May 22, 2019, 09:43:01 AM

Bitcoin price hasn't got anything specific with the growth of Binance at this time. From my understanding Binance is completely independent, and the same have been seen in recent days with the growth of Binance even after its hack. Over the months BNB will grow along with bitcoin and as a result it could reach around $80 when bitcoin cross $15k

Whenever we started to see increasing in bitcoin prices people will start to bring in different reasons why that is happening and forgotten that bitcoin has capacity for growing on it own without all these side reasons. I don't think withdraw and deposit in binance has anything to do with the current bullish trend.

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Bitcoin price hasn't got anything specific with the growth of Binance at this time. From my understanding Binance is completely independent, and the same have been seen in recent days with the growth of Binance even after its hack. Over the months BNB will grow along with bitcoin and as a result it could reach around $80 when bitcoin cross $15k

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I don't think that binance has anything to do with the price ,
The issue of binance happen while we are having a great price pump and it didn't affect the pump,
The issue didn't stop the price from increasing and we have faced a great decline for a short period of time but the price manage to get back up again,
And now it is playing around $7,900+ and if I am not mistaken binance is already operating and already allowed withdrawal and deposit function on their site.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Binance has suspended all deposits and withdrawals as they have to conduct a thorough security review that will 'include all parts of our systems and data, which is large'.
Binance wil reopen deposits and withdrawals on Wednesday May 15, at around 11AM UTC. Trading will be halted for about 8 hours during the system upgrade.

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Quote from: jakelyson on May 18, 2019, 08:46:38 PM

Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

It will continue to move up. I do not think that price going up is even connected to Binance limiting withdrawal. The price is already on a bull trend even before Binance was hacked and limited withdrawal. The fact that the price is back to $7500 is proof that Bitcoin has a strong uptrend right now.

Price to be back up $8000 soon, price currently is $7900 and I am not seeing any hindrance for it rising to a higher level.
The market is bullish, so whatever bad news will not affect it's status, maybe it could result to dump, but it's all temporary as the bullish trend continues, so price will easily recover. It's good to invest now, not only Bitcoin but also good altcoins as well, and BNB is one of the best in alts market.

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Quote from: jakelyson on May 18, 2019, 08:46:38 PM

Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

It will continue to move up. I do not think that price going up is even connected to Binance limiting withdrawal. The price is already on a bull trend even before Binance was hacked and limited withdrawal. The fact that the price is back to $7500 is proof that Bitcoin has a strong uptrend right now.

the Binance comments that started circulating the internet after the hack were only meant as a groundwork for the FUD that came later and helped the small crash that we had which started by a big sell unloading on the market pushing the price down to fill some margin trades and future contracts and as we saw the strength of the uptrend bounced it back up more than $1000 in an instance.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

It will continue to move up. I do not think that price going up is even connected to Binance limiting withdrawal. The price is already on a bull trend even before Binance was hacked and limited withdrawal. The fact that the price is back to $7500 is proof that Bitcoin has a strong uptrend right now.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Although Binance is top leading exchange for cryptocurrencies but price of bitcoin is not effected or related to the withdrawals or freezing of funds on a particular exchange, even if it is binance or any other exchange.
Some of people were also debating that the binance hack can effect price, but that's totally wrong. They don't even know that hacked amount was only 2% of the total BTC volume.

Quote from: pakhitheboss on May 14, 2019, 10:23:46 AM

If I am correct Binance has started allowing deposit and withdrawal from today.

Yes they did.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Withdrawals has resume, yet BNB coins hasn't still drop, in fact it's gaining today, and I think it will gain more as the uptrend movement will be back again soon.

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Quote from: GregH37 on May 17, 2019, 02:17:47 AM

Quote from: ShowOff on May 16, 2019, 01:59:00 AM

Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Don't think it related. Then what happen with amount of BTC that get hacked, i mean someone must be sell it. And proven bitcoin price still increase. I don't know what actually happen even i am surprised bitcoin price can be like this.

The amount of BTC stolen from Binance is too big for it to affect the market naturally, although it will have little effect because the scammers will definitely sell it off the market and change to fiat, so who ever get to benefit from this will be the hacker’s bank and the hacker’s country economy, because $40 million added to economy is not something small.

Everyone is surprised the way bitcoin has been building shield against FUD news this period, and it seems like every time bitcoin FUD occurs, it tends to favor bitcoin, this s why we should continue holding our coin believing strongly in the future achievement of BTC.

Right, usually if bitcoin exchange get hacked, usually it will reallly affect on bitcoin price immediately. But this time i not really see bitcoin get dumped. And this correction, honestly i still not think it is related to Binance hacked.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

If so what happens to the price when Binance allows withdrawals again?

Alright, Binance opened the withdrawals again --> https://www.theblockcrypto.com/tiny/binance-reopens-withdrawals-and-deposits-a-week-after-41-million-hack-bitcoin/

But I don't think that the sudden plummet is the effect of it.

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Quote from: ShowOff on May 16, 2019, 01:59:00 AM

Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Don't think it related. Then what happen with amount of BTC that get hacked, i mean someone must be sell it. And proven bitcoin price still increase. I don't know what actually happen even i am surprised bitcoin price can be like this.

The amount of BTC stolen from Binance is too big for it to affect the market naturally, although it will have little effect because the scammers will definitely sell it off the market and change to fiat, so who ever get to benefit from this will be the hacker’s bank and the hacker’s country economy, because $40 million added to economy is not something small.

Everyone is surprised the way bitcoin has been building shield against FUD news this period, and it seems like every time bitcoin FUD occurs, it tends to favor bitcoin, this s why we should continue holding our coin believing strongly in the future achievement of BTC.

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Bitcoin price will be going up when the price goes up and Binance has nothing related to the market movement. There's nothing significant of the price increase of bitcoin and Binance hasn't relevant to the massive increased or this ongoing correction now. Binance is an exchange only, no more than that may affect on bitcoin price unless the movement itself.

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It seems for now it will probably help the altcoins more than it helps bitcoin. Because, they are going to give money to people who do more than 1 bitcoin in trading fee until 18th which means there will be a lot of people getting some altcoins or so and that would help the altcoins a lot. Bitcoin price would probably not get affected but even if it does I am not sure if it will be a good help, it could totally drop as well.

I believe as far as I can understand usdt pairs work too in this over 1 btc trading deal but most people would not do that usdt deal and would probably do either bnb or eth or any other coin they want which is why we are seeing all altcoins gaining a bit of traction. Look at eth, it was 200 dollars just couple weeks ago and now its getting close to 300.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Time tell us that nothing significantly happens, because Bitcoin continue doing its thing, in other words continued rally, almost without pullbacks. I do not think that there was any strong correlation between Bitcoin price and Binance withdrawals nor Binance hack (just few percent, at the day when hack was happen). If that was larger hack, if Binance didn't reacted promptly and transparently, it would probably be different.

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Quote from: raven7886 on May 16, 2019, 03:02:23 AM

But it’s just an unreasonable assumption, it would be impossible for it to have any effect on bitcoin price, I think this surge is just a normal investment surge.

It's not entirely unreasonable. Newbies just aren't used to these events and consider hacks and whatnot to be bad for the market, so I don't blame them for thinking that. It shows that they are at least paying attention.

Another aspect is that the mainstream media adds to the uncertainty of people by over-exaggerating the consequences of hacks. CNBC and Bloomberg are the worst in that regard.

At the end of the day, hacks mean coins being taken off the market, at least in the near term. If there is an effect on the price to begin with, it should be positive because there are fewer coins to be sold.

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Binance action has no relevance to the increase of bitcoin as it's already bullish before the hacking incident.

I'm not worried about this and I don't believe on that speculation.

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Let me say my prayer “I am a bitcoin believer; I refuse to give in to evil thoughts”. I call it evil thought because I really don’t want to think the unimaginable thing that could happen to bitcoin if this increase is really as a result of Binance stopping deposit and withdrawal.

First we need to look at what value BTC was before this incidence, and if Binance were to release their system again, then we will be getting back to a value a little bit above that. But it’s just an unreasonable assumption, it would be impossible for it to have any effect on bitcoin price, I think this surge is just a normal investment surge.

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Quote from: guoyu78 on May 16, 2019, 01:03:16 AM

Nah, who even said that? I don't believe that sh#t and it's not true. Bitcoin price has nothing to do with whatsoever it is that's happening with Binance. Don't mind all these so called experts or whatever they call themselves, they always look for things to tag and prove themselves as the best so everyone can believe what they have to say.

Bitcoin price has been going up way before the Binance hack occurred, so how will them stopping withdrawals now be the reason price is going up? Funny set of people, lol. All these things they are saying are all lies and none of them is truth.

Well, it really doesn’t have correlation to me too, or maybe we could just say that attentions where diverted from BNB a little to BTC, which I don’t think people had place priority to BNB over BTC. The only factor that would have even been reasonable is the threat of delisting tether because of the little challenge facing them, maybe people started changing their USDT back to BTC since that is still the major paired coin for now.

Whatever it is that caused the urge in BTC should just remain that way while we get more positive factors that will also continue to contribute to its growth till we get to our destination, which is ATH.

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If the stolen funds have got dumped we could've experienced a sudden crash in the price of bitcoin. What happened is the funds hacked were getting secured on different wallets and Binance itself has taken responsibility of providing funds to users if lost. This way there is no FUD and negative news relative to the hack. Based on the same there isn't any further price crash with regards to Binance.

ShowOff

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Don't think it related. Then what happen with amount of BTC that get hacked, i mean someone must be sell it. And proven bitcoin price still increase. I don't know what actually happen even i am surprised bitcoin price can be like this.

guoyu78

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Nah, who even said that? I don't believe that sh#t and it's not true. Bitcoin price has nothing to do with whatsoever it is that's happening with Binance. Don't mind all these so called experts or whatever they call themselves, they always look for things to tag and prove themselves as the best so everyone can believe what they have to say.

Bitcoin price has been going up way before the Binance hack occurred, so how will them stopping withdrawals now be the reason price is going up? Funny set of people, lol. All these things they are saying are all lies and none of them is truth.

Reid

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

That is just one exchange out of how many?
Cmon, dont be ridiculous. I know they are one of the big players in terms of exchange but there is still a lot out there which are legitimate and are still moving bitcoins in and out.

They could have some part out of it because of the upgrade of the system but still that cannot be considered as the biggest reason out there.
Get out of just one website (binance) and you will see why.

jossiel

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

The price of bitcoin has been interestingly high and take note, we are Wednesday today. Withdrawals has been allowed yesterday right?

We all expected that price of bitcoin would go down after that but we're all wrong.
The price movement of bitcoin now seems to depend on its own development and recovery.

ajqjjj

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Quote from: tspmhack6 on May 15, 2019, 12:00:12 AM

Quote from: YuginKadoya on May 14, 2019, 10:36:26 AM

It is not really related and has no effect on the current status of the movement of bitcoin, Well more accurately even though Binance would stop or not all their major transactions that would not have any effect, Because It doesn't really matter for just one exchange to do it and base on exchange they are base on Bitcoin trading and the probability of other cryptocurrencies to be converted to bitcoin is very high so nothing to worry about and we are now in the midst of bull run and returning to the past all-time high is the major thing bitcoin is doing right now.

I think we should expect a slow gain to $10k this year, and a slow gain likely above ATH high next year, and then watch the madness of another market boom in 2021.

This year slow gain is possible in Bitcoin but this month is little busy so big hype also possible in crypto market. Majority of the investors are take risk in this bull run because it will continue in uptrend. I think more than 10k also possible in shortly so better wait and see the crypto market. Binance is the highly promising trading exchange so no one is worried about the last week issue.

CryptoBry

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

What can happen when Bitcoin will get back to its normal business? I am expecting that Bitcoin will continue to hodl on what it already gained because we know that Binance is a very big exchange and it is contributing a lot to Bitcoin marketcap. Actually, I don't see any connection between what happened to Binance with the rise of Bitcoin...in fact it is even surprising that even with the Binance bad news Bitcoin seems not be affected at all meaning to say the market just ignored the Binance spectacle. Binance is now stronger and I guess better with happened and is now ready for the whole world doing business as normal.

tspmhack6

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Quote from: YuginKadoya on May 14, 2019, 10:36:26 AM

It is not really related and has no effect on the current status of the movement of bitcoin, Well more accurately even though Binance would stop or not all their major transactions that would not have any effect, Because It doesn't really matter for just one exchange to do it and base on exchange they are base on Bitcoin trading and the probability of other cryptocurrencies to be converted to bitcoin is very high so nothing to worry about and we are now in the midst of bull run and returning to the past all-time high is the major thing bitcoin is doing right now.

I think we should expect a slow gain to $10k this year, and a slow gain likely above ATH high next year, and then watch the madness of another market boom in 2021.

pooya87

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if you stop thinking about Binance for a moment and look at the development over the past couple of months and how this rise was already too late you can see that it had nothing to do with the Binance drama. in fact Binance hack delayed it a little bit and in its initial stage there was a slowness to the rise which would have not existed if that "fear" didn't exist and price could have reached $8k so much faster without Binance.

the thing is, bitcoin has been undervalued for a couple of months ever since price was dumped with manipulation below $6k and that unrealistic price had to be "corrected" just as a big bubble needs to burst. that is why i have been calling it a reverse bubble ever since it occurred.

EastSound

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Quote from: barota on May 14, 2019, 08:13:14 PM

i dont know why binance support fake pump like the last from 4100 to current prices of bitcoin ?
the real price of bitcoin 4300 max per btc .
dont buy guy .. beware bull trap or evil of the market
people love buy loss .. yes they buy loss!!!!!

Sorry but 4.3k is a past, the new floor is $7-8k. We would just wait for the other altcoins to gain price and then btc will continue to pump again.

Its not a fake pump since institutional investors can start test trading on July.

barota

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i dont know why binance support fake pump like the last from 4100 to current prices of bitcoin ?
the real price of bitcoin 4300 max per btc .
dont buy guy .. beware bull trap or evil of the market
people love buy loss .. yes they buy loss!!!!!

ghermghuda

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I don't believe Binance's halted withdrawals is the sole reason behind the recent Bitcoin pump, but what I guess is that there's some sort of influence. Bitcoin could've pumped with or without that circumstance and Binance can't be the only exchange to cause that. Maybe this was some mere coincidence or may be not, but time will tell.

EastSound

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I really do not believe that one exchange can artificially pump the price because there are multiple big exchanges besides Binance. People would be already suspicious if something is happening with the BTC/USD trading happening in Binance.

LeGaulois

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Yeah, agree, nothing related to Binance. This exchange is too big and it's just a minor issue which has already stopped (following @pakhitheboss comment). It's not like if suddenly Binance announced they don't have money anymore.
It seems there is a lot of ups/downs (high volatility) and we aren't used anymore to see such. So we try to find all kind of arguments to explain the rise (and me too).

Quote from: Zemomtum on May 14, 2019, 12:00:49 PM

This has not to do with Binance. Institution money are coming in we are at the stage of adoption. Microsoft, FaceBook, Samsung just to mentioned a few a now building on top of blockchain. Everyone just want to get involved and the FOMO this time arround will multiple what we have ever had in the crypto history.

So, they would invest directly in Microsoft, FB, etc because Bitcoin has nothing to do with these companies

exstasie

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

No withdrawals from Binance = less BTC supply being sent to fiat exchanges. At the same time, no deposits to Binance = less BTC supply from fiat exchanges being bought and sent to Binance.

It's hard to know which had the bigger effect and therefore if BTC/USD prices were driven up or down by this situation. Chances are, the effect was minimal.

Quote from: gentlemand on May 14, 2019, 12:38:32 PM

We'll find out soon enough. I don't really get the folks who think nothing will change. It has an awful lot of pent up money that'll be looking to capitalise on the action that's taken place while it was frozen. No idea which direction it wants to go in though.

Trading on Binance has been active the entire time that withdrawals were suspended. Traders have been able to capitalize on the action the whole time. If anyone wanted to hedge to fiat, they could have traded to USDC, TUSD, USDT, PAX.

BitHodler

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Quote from: gentlemand on May 14, 2019, 12:38:32 PM

We'll find out soon enough. I don't really get the folks who think nothing will change. It has an awful lot of pent up money that'll be looking to capitalise on the action that's taken place while it was frozen. No idea which direction it wants to go in though.

How so? People have their lovely Tether and a bunch of other stablecoins to hedge a potential drop in value. I doubt we'll see an effect on the price when they resume operations in full.

I would even like to add that it's unlikely to see people part with their coins at this stage because selling now could just as easily mean that you're missing out on even more profits, which is a factor to take into consideration.

I hope that people rethink why they shouldn't leave their funds on an exchange, especially with how not every exchange handles hack incidents like Binance. If it was an other exchange people had to swallow a loss right now.

traderethereum

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I don't think that.
I am sure that the increasing of bitcoin price has nothing related to binance stopping the withdrawal.
But I see my bitcoin withdrawal in Binance got suspend too like other people so I was wondering what will happen later to binance since we cannot withdraw bitcoin.
I hope that this will not take too long and hope binance can solve the problem as soon as they can.

suzanne5223

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Quote from: Saf1211 on May 14, 2019, 09:05:56 AM

How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

I personally dont think the bitcoin price increases was due to Binance withdrawals suspension but Binance does create something which helped the price of bitcoin market to surge when they advice their users to stop the pair trading of USDT and this make alot of people swap their USDT to Bitcoin while alot of exchange also disable USDT now.

ryzaadit

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They have some system upgrade right now, i think the Deposit & Withdrawl will be open after the system upgrade. You can check it a few hours again or tommorow.

gentlemand

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We'll find out soon enough. I don't really get the folks who think nothing will change. It has an awful lot of pent up money that'll be looking to capitalise on the action that's taken place while it was frozen. No idea which direction it wants to go in though.

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Quote from: pakhitheboss on May 14, 2019, 10:23:46 AM

If I am correct Binance has started allowing deposit and withdrawal from today.

Withdrawals are still suspended for me, and I've been checking frequently as I want to get some NEO off Binance as soon as I can.

As far as Binance's hack affecting the price of bitcoin goes, I don't really think this rise had anything to do with it. There have been big exchanges that have gotten hacked in the past (Cryptsy is the one coming to mind first), and no one exchange's hacking or failure or whatever can influence bitcoin all that much. Mt. Gox was a big exception to that, because if I'm not mistaken they held an enormous percentage of the total circulating bitcoin at the time, but that's not true of any exchange these days.

Binance might be very popular and very big, but there are a lot of other big exchanges today, unlike in 2013. That's actually comforting to know.

Adriano2010

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Bitcoin grow i think because maybe more whales buy and also people start buy and they will hold the coins for longer and maybe will grow more if more people will start to buy and hold. And indeed is interesting that the price grow more after Binance hack.

Zemomtum

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This has not to do with Binance. Institution money are coming in we are at the stage of adoption. Microsoft, FaceBook, Samsung just to mentioned a few a now building on top of blockchain. Everyone just want to get involved and the FOMO this time arround will multiple what we have ever had in the crypto history.

Pamadar

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I also don't see any relations between this huge pumped and that particular binance incidents, but if I get you correctly you are assuming that after the withdrawal process will be allowed inside binance the value of bitcoin will be dumped, maybe for a some days it can be but afterwards Bitcoin will make its way again to continue rising strong.

mk4

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How is it even related? How does Binance stopping withdrawals increase BTC's price? I doubt that people would think: "oh crap Binance stopped withdrawals, time to buy more BTC!"

yoseph

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Bitcoin price has been steadily rising way before the unfortunate hacking of Binance and usually the hacking of crypto exchanges tend to have a negative effect on Bitcoin but this time around though it went down for a bit, it rallied after the hacking issue and this bull run has rather been very impressive.

liss sa

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I think it's not related to binance. This year, IEO make new chancce for maket when people lost a lots. Bull is running now.

YuginKadoya

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It is not really related and has no effect on the current status of the movement of bitcoin, Well more accurately even though Binance would stop or not all their major transactions that would not have any effect, Because It doesn't really matter for just one exchange to do it and base on exchange they are base on Bitcoin trading and the probability of other cryptocurrencies to be converted to bitcoin is very high so nothing to worry about and we are now in the midst of bull run and returning to the past all-time high is the major thing bitcoin is doing right now.

Ailmand

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As for me, it has nothing to do with Binance. It's just that there's a high demand in the market. Bitcoin is already resistant to controversies and it doesn't depend or rely on any exchange like binance. The market has just continue recovering and it's a good thing for most holders.

pakhitheboss

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If I am correct Binance has started allowing deposit and withdrawal from today.

How can you relate the Bitcoin price hike with Binance. Binance is an Alt based exchange. The so called Hack did not bring the market down. How can the halt of withdrawal affect the market.

If the Market goes down it has to go up someday and that day is today.

Saf1211

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How many people think the price increase has been triggered by the fact that Binance has stopped withdrawals?
If so what happens to the price when Binance allows withdrawals again?

Topic: Bitcoin Price and Binance (Read 786 times)