“There is no question that BTC prices are oversold no matter which metric you look at when it comes to technical price analysis”explained Naeem Aslam, chief market analyst at AvaTrade at Bolsamanía, who believes that “there is a better chance that the price will continue to rise and, in fact, we could see the price above $20,000 before the end of the year if the current momentum keep going”.
For his part, Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, stresses that despite all the drama surrounding FTX “bitcoin couldn’t care less”; It should be remembered that yesterday Sam Bankman-Fried was arrested in the Bahamas and the SEC and the US Attorney’s Office announced charges against the founder of the ill-fated ‘exchange’. “More drama might not hit the queen cryptocurrency hard,” added this expert.
Fear for Binance
On Tuesday, Binance recorded $3 billion in withdrawals and its CEO, Changpeng Zhao, warned workers that tough times were ahead for the company.
It should be noted that ‘Reuters’ published that Binance and Zhao, as well as other senior officials on the platform, are being investigated by the United States Department of Justice for possible money laundering.
Currently, the big problem for Binance does not come from the regulators who will start asking many questions as collateral damage due to the FTX case, which recently culminated in the arrest of its creator, Sam Bankman-Fried. The great uncertainty comes from the constant reports on Twitter of the massive outflows of capital in cryptocurrencies from the coffers of Binance, creating FUD if Binance will be able to remain liquid enough to be able to handle all withdrawals.
Source: Ambito
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