“Exchange FUD” Narrative That Haunted Bitcoin May Finally Be Dead: Analyst

Bitcoin’s price took a slight dip late last week when it was revealed that OKEx had frozen withdrawals. The exchange did so as one of its key holders went silent as he was cooperating with a public security bureau. Some investors took this as a sign that the cryptocurrency industry was under a regulatory threat. Bitcoin didn’t fall as much as some initially thought, though. Analysts say that this simple fact that Bitcoin didn’t capitulate on the news suggests that the “exchange FUD” narrative is dead. An underlying bid from institutional players may be supporting BTC’s price action. Bitcoin Not Budging on OKEx News, Other Exchange News Bullish This past week, OKEx revealed that it had frozen withdrawals of Bitcoin and all other cryptocurrencies. A private key holder that manages withdrawals went offline after he began cooperating with a public security bureau. Bitcoin proceeded to drop by 2-3% against the…

Read the original article here