Exchanges being attacked in the verge of BTC ETF - page 2.

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Quote from: ShinyStarPrincess on November 22, 2023, 01:33:42 PM

What an eventful week it has been regarding cryptocurrency exchanges! We witnessed CZ stepping down, Bittrex announcing the suspension of its operations starting from December, and Kraken facing a significant lawsuit. There are a few key points to consider:

something is cooking behind the scene..ETF is getting attention of people and the time big exchange losing trust of the users..One point is clear that SEC doesn't want any trading system where people can do freely trading under the eye of SEC..Whenever market going to bullish we hear bad news of realted to exchange or tokens.

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1) Is the recent decline in exchanges' fortunes a result of natural market forces or deliberate manipulation? This question might seem rhetorical given the circumstances.

ETF approvals is closed and anything we can hear the good news..Any bad news before approval is short term manipulation.

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2) With Bittrex shutting down, many users are left wondering where they will migrate their activities. Have you made any decisions regarding your future exchange of choice?

I have not used Bittres exchange, I am not worry from this news..I just thinking to migrate from Binance due to current news and I think Hot wallet is best option in current situation.

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This was a busy week for cryptocurrency exchanges. As you mentioned some important points which happened like CZ step down and Bittrex stopp its operation and Kraken sued. But we saw that these news did not impact on the market much.
Bitcoin was on 37000+ and news effect it come down and start trading at 36000+ but today it gain again and again it is trading at 37000+.
By the way It is hard to know exactly what this event would be like or how it would affect market.And in my point of the approval of Bitcoin ETF is another important thing which may change the way of market and ETF can easily override on these kind of news.
And this is the market and anything can happen at any time so keep an eye on the latest updates and news and be careful while taking any entry in the market.

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Quote from: ShinyStarPrincess on November 22, 2023, 01:33:42 PM

2) With Bittrex shutting down, many users are left wondering where they will migrate their activities. Have you made any decisions regarding your future exchange of choice?

Migrating to anothee exchanges does not guarantee success. Exchanges are alway a try and error attempt. which you will never know the next in line. My advice is just to only focus on one CEX. all your Coin should be on a DEX wallet. Whenever you need to sell your coin, you can send an amount you just need to spend to CEX and exchange it rather than hording it in a centralized Exchange because there is a higher risk in CEX than DEX.

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Quote from: ShinyStarPrincess on November 22, 2023, 01:33:42 PM

3) Could these exchange-related developments potentially trigger a major unforeseen event (a "Black Swan" event)? Or will the approval of a Bitcoin ETF override all other concerns and become the focal point of attention?

Maybe who knows might the centralized down target of SEC might result into. There are lots of possible reason but the clear fact that they wanna control crypto is now crystal clear. Why would SEC want to turn down example such as Binance? Because its an enemy of US market. Surely thry will favor all US exchange only and we knew CZ or Binance is only strong on other countries especially Asia.

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Quote from: ShinyStarPrincess on November 22, 2023, 01:33:42 PM

What an eventful week it has been regarding cryptocurrency exchanges! We witnessed CZ stepping down, Bittrex announcing the suspension of its operations starting from December, and Kraken facing a significant lawsuit. There are a few key points to consider:

1) Is the recent decline in exchanges' fortunes a result of natural market forces or deliberate manipulation? This question might seem rhetorical given the circumstances.

2) With Bittrex shutting down, many users are left wondering where they will migrate their activities. Have you made any decisions regarding your future exchange of choice?

3) Could these exchange-related developments potentially trigger a major unforeseen event (a "Black Swan" event)? Or will the approval of a Bitcoin ETF override all other concerns and become the focal point of attention?

Even with all the bad news going around for the crypto market the price seems unaffected because currently BTC is around $37,500 and continues to stay in this range with a 1K sideway range. Even if we don't have Bittrex, Binance, or Kraken still there are crypto exchanges where people migrate their trading activities, and new exchanges may pop up and use this as an advantage to grow.

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1- Manipulation in the investment market is unavoidable, especially since the current scale of the crypto market is still very small, so it easily fluctuates in response to news.

2- It is not difficult to change the choice while using other similar platforms, active CEXs are very popular and there are also many DEX options, the bittrex shutdown only affects a small group its users.

3- I don't know much about the plot behind the events so I don't want to speculate too much about it, but in general the main focus will still be on the Bitcoin ETF spot being approved. And before that happens, we will still witness many complicated news appearing in the market.

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Quote from: passwordnow on November 22, 2023, 02:38:09 PM

Quote from: ShinyStarPrincess on November 22, 2023, 01:33:42 PM

2) With Bittrex shutting down, many users are left wondering where they will migrate their activities. Have you made any decisions regarding your future exchange of choice?

2) I have already made a decision and that is to jump from one to other and this is the survival kit that you need to stay longer on this market. Because you'll never know if they're going to be as good as they can be. Remember bittrex was once at the top, so the same can happen to the top exchange stoday.

Now that the reliability and test of time of exchanges are no longer a yardstick to determine whether we will remain with them or not, it's better now to move from one to another if the need arises. Binance leadership changing hands from CZ to Richard Teng, if their visions don't align or Richard, doesn't bring on board a better innovation, then binance, might just go down. Bittrex, a reliable exchange shutting down doesn't speak good of depending on one exchange, remember the issue with FTX, I think it's better for crypto owners to be very informed about the happenings in the exchange of their choice, so they'll know if it's still safe to remain there.

These shakeups in exchanges could be manipulation from governments as is being speculated in some quarters, so they can fully regulate and control the top exchanges. It is still speculations, so the important thing for us is to be vigilant about the exchange that we're using.

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Quote from: JeromeTash on November 22, 2023, 04:59:23 PM

One of the possible reasons is that they want to wipe off this traditional crypto exchanges that are not fully regulated and controlled by Governments, and they want to push people into using platforms that they have full control of.
The Idea is to get people to abandon bitcoin which they can not also control and then trade those ETFs on exchanges that Governments can control and manipulate any time they want.

That is basically their goal, it seems governments have finally accepted the fact they cannot make this market disappear, so they will try to implement next best option for them which is to corner this market and control it completely, I doubt they will succeed completely, however a great deal of the users will take the path of least resistance and will follow all rules and regulations set by the governments and use whatever platforms they recommend.

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One of the possible reasons is that they want to wipe off this traditional crypto exchanges that are not fully regulated and controlled by Governments, and they want to push people into using platforms that they have full control of.
The Idea is to get people to abandon bitcoin which they can not also control and then trade those ETFs on exchanges that Governments can control and manipulate any time they want.

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Quote from: ShinyStarPrincess on November 22, 2023, 01:33:42 PM

What an eventful week it has been regarding cryptocurrency exchanges! We witnessed CZ stepping down, Bittrex announcing the suspension of its operations starting from December, and Kraken facing a significant lawsuit. There are a few key points to consider:

1) Is the recent decline in exchanges' fortunes a result of natural market forces or deliberate manipulation? This question might seem rhetorical given the circumstances.

2) With Bittrex shutting down, many users are left wondering where they will migrate their activities. Have you made any decisions regarding your future exchange of choice?

3) Could these exchange-related developments potentially trigger a major unforeseen event (a "Black Swan" event)? Or will the approval of a Bitcoin ETF override all other concerns and become the focal point of attention?

1) It's always like this. Whenever we're approaching a bear or bull run, there's always some force and events that happens that starts the scene. But on this one, these are seems to be said as manipulations. But for me, these are way normal things being scene on the market just like the old times that when the bull run is about to come, some news explodes be it negative or positive.

2) I have already made a decision and that is to jump from one to other and this is the survival kit that you need to stay longer on this market. Because you'll never know if they're going to be as good as they can be. Remember bittrex was once at the top, so the same can happen to the top exchange stoday.

3) Porbably. But don't look at those, they're just like another factors that will make the bull run because it is still centering to Bitcoin's halving.

ShinyStarPrincess

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What an eventful week it has been regarding cryptocurrency exchanges! We witnessed CZ stepping down, Bittrex announcing the suspension of its operations starting from December, and Kraken facing a significant lawsuit. There are a few key points to consider:

1) Is the recent decline in exchanges' fortunes a result of natural market forces or deliberate manipulation? This question might seem rhetorical given the circumstances.

2) With Bittrex shutting down, many users are left wondering where they will migrate their activities. Have you made any decisions regarding your future exchange of choice?

3) Could these exchange-related developments potentially trigger a major unforeseen event (a "Black Swan" event)? Or will the approval of a Bitcoin ETF override all other concerns and become the focal point of attention?

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