Crypto markets turn bearish atfer japan's pressure on Binance

[HasHe]

Just now for the past five days,we all were enjoying a price rise in bitcoin reaching price of almost $9,000 if i'm not wrong.Now suddenly,bitcoin's price has fell down almost $400 dollars since a news spread that Japan's financial watchdog FSA has ordered the exchange Binance to freeze its operations since its license is still pending for official approval.

Zhao Changpeng, Binance founder has expressed disappointment with Nikkei's report as irresponsible journalism.He added that they are having constructive dialogues with FSA and no such order has been issued.

Whether it is a FUD or not,but it has created a negative effect over the whole crypto currencies.Most of other major crypto currencies have also faced a downfall due to this news.

Wishing bitcoin a speedy recovery.

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[BrewMaster]

bitcoin has been moving sideways for a long time now. these $400 rises and falls that you are talking about are just small percentages (~4% in this case) which aren't really anything worth talking about.
and i don't think this small drop had anything to do with Japan or anything else, it is just because the rise was not strong enough to break some resistances and head to $10k so price dropped down.

[cryptojohnstone]

I'd be worried if this was any other exchange other than binance. I've watched many interviews with the CEO and he always stresses the importance of cooperation with authority so I don't anticipate this one getting out of hand

[enjotan]

I think there are many effects that can affect the development of crypto and bitcoin.
Of course, Japan is one of the strong and friendly countries with bitcoin. with such rumors. would be fatal. panic makes a lot of beginners run away with their losses. in fact, not necessarily every rumor will be bad.

[stompix]

Zhao Changpeng, Binance founder has expressed disappointment with Nikkei's report as irresponsible journalism.He added that they are having constructive dialogues with FSA and no such order has been issued.

Rather than accusing them of irresponsible journalism he should have addressed the issues presented in the article sand come up with proofs that they are wrong.

And the second line in the Nikkei article is :

The company was operating in Japan with no registration and judged that investors could suffer damage

This is the quote he should have explained, do they operate legally or not?
Not the thing he said, that  "We are in constructive dialogs with Japan FSA". This means nothing.

[anobtc]

This method "they" used again and again. They announcement about a ban from the government and market go down, and several days after, they corrected the information that no ban, and market go up again. In that time, they increase amount of coin by selling and buying again at dip price 

[hodlftw]

Zhao Changpeng, Binance founder has expressed disappointment with Nikkei's report as irresponsible journalism.He added that they are having constructive dialogues with FSA and no such order has been issued.

Rather than accusing them of irresponsible journalism he should have addresses the issues presented in the article sand come up with proofs that they are wrong.

And the second line in the Nikkei article is :

The company was operating in Japan with no registration and judged that investors could suffer damage

This is the quote he should have explained, do they operate legally or not?
Not the thing he said, that  "We are in constructive dialogs with Japan FSA". This means nothing.

I don't know why you say that means nothing, to me that says we are working alongside the proper authority and trying to figure it out. What more could you want from an exchange that is in a position like this? They could have said we are resolving the issue, but if it doesn't get resolved in a certain timeline then they look bad. To me it was a PR way to say hold on we are getting things correct. They could have said it in a better way, but that was better than not addressing the issue.

[EugeneJanet]

Just now for the past five days,we all were enjoying a price rise in bitcoin reaching price of almost $9,000 if i'm not wrong.Now suddenly,bitcoin's price has fell down almost $400 dollars since a news spread that Japan's financial watchdog FSA has ordered the exchange Binance to freeze its operations since its license is still pending for official approval.

Zhao Changpeng, Binance founder has expressed disappointment with Nikkei's report as irresponsible journalism.He added that they are having constructive dialogues with FSA and no such order has been issued.

Whether it is a FUD or not,but it has created a negative effect over the whole crypto currencies.Most of other major crypto currencies have also faced a downfall due to this news.

Wishing bitcoin a speedy recovery.

I went to binance's official telegraph group to ask the administrator. They told me that the Japanese government had not blocked the binance exchange, and now they are discussing a solution with the Japanese government. The bad news is not accurate.

[cellard]

It's ok, just consider this: Do people that sell their bitcoins depending on what some government has to say about whatever exchange really deserve to hold bitcoin? exactly.

Let all the weak hands be scared off the market with each of these FUD signals, the more we lose these them and the faster we lose these people the better. They are just unnecessary weights on this rocket.

[stompix]

Zhao Changpeng, Binance founder has expressed disappointment with Nikkei's report as irresponsible journalism.He added that they are having constructive dialogues with FSA and no such order has been issued.

Rather than accusing them of irresponsible journalism he should have addresses the issues presented in the article sand come up with proofs that they are wrong.

And the second line in the Nikkei article is :

The company was operating in Japan with no registration and judged that investors could suffer damage

This is the quote he should have explained, do they operate legally or not?
Not the thing he said, that  "We are in constructive dialogs with Japan FSA". This means nothing.

I don't know why you say that means nothing, to me that says we are working alongside the proper authority and trying to figure it out. What more could you want from an exchange that is in a position like this? They could have said we are resolving the issue, but if it doesn't get resolved in a certain timeline then they look bad. To me it was a PR way to say hold on we are getting things correct. They could have said it in a better way, but that was better than not addressing the issue.

Well, to me this would mean something like:
Right now we are not operating legally, but we're going to solve it....maybe!!!!

What is the point of being in discussions with the FSA unless you have unsolved issues?
There is clearly a problem there and if he really wanted to come clean and be sincere he would have said what the problems are and what he has to discuss with the FSA.

Because it might be anything from putting out old newspapers on "combustible trash day" to serious breaches of the law that might get them shut down for real.

Evasive statements like this are really not helping anyone...

[jtipt]

I'd be worried if this was any other exchange other than binance. I've watched many interviews with the CEO and he always stresses the importance of cooperation with authority so I don't anticipate this one getting out of hand

Yeah so far binance is going in the right direction with everything. The team behind binance is also actually good, they handled the recent api hacks very swiftly.
Anyways pointing few hundred dollar price change to anything is just pointless right now, since past few weeks bitcoin market is quite unstable.

[CaptainKid]

Just now for the past five days,we all were enjoying a price rise in bitcoin reaching price of almost $9,000 if i'm not wrong.Now suddenly,bitcoin's price has fell down almost $400 dollars since a news spread that Japan's financial watchdog FSA has ordered the exchange Binance to freeze its operations since its license is still pending for official approval.

Zhao Changpeng, Binance founder has expressed disappointment with Nikkei's report as irresponsible journalism.He added that they are having constructive dialogues with FSA and no such order has been issued.

Whether it is a FUD or not,but it has created a negative effect over the whole crypto currencies.Most of other major crypto currencies have also faced a downfall due to this news.

Wishing bitcoin a speedy recovery.

Why are you so sure that this news (maybe even not true), so it influenced the entire market of crypto currency We ourselves create panic when we try to find some negative news and focus on this.

[Viking81]

One more example of FUD that plays on weak confidence and sentiments of market participants who still easily react on any deliberate provocation without proving the news are false or true . But if Binance will not be able to manage its problems with Japan authorities (as I understand they both are now in negotiation phase and FSA discontent is quite real) it will be a strong blow for the cryptomarket. Leading centralized exchanges are weak spots of the cryptomarket, any large problems with them (hacking, sanctions of regulators etc) are able to easily crash price of BTC and other cryptoassets.

[ubaid]

if fixed on one of these things, maybe until now bitcoin has no value. which obviously they have not understood in detail about bitcoin. And actually there are still many positive things that can be done to develop bitcoin world.

[AlphaWolf]

I don't think that the news has affected the price of Bitcoin. The market is just too volatile right now with the price jumping between $6k and $11k. At most it could have caused a down ward pressure on alts but I don't think it could cause a drop in price for Bitcoin.

[novaprime]

Just now for the past five days,we all were enjoying a price rise in bitcoin reaching price of almost $9,000 if i'm not wrong.Now suddenly,bitcoin's price has fell down almost $400 dollars since a news spread that Japan's financial watchdog FSA has ordered the exchange Binance to freeze its operations since its license is still pending for official approval.

Zhao Changpeng, Binance founder has expressed disappointment with Nikkei's report as irresponsible journalism.He added that they are having constructive dialogues with FSA and no such order has been issued.

Whether it is a FUD or not,but it has created a negative effect over the whole crypto currencies.Most of other major crypto currencies have also faced a downfall due to this news.

Wishing bitcoin a speedy recovery.

I went to binance's official telegraph group to ask the administrator. They told me that the Japanese government had not blocked the binance exchange, and now they are discussing a solution with the Japanese government. The bad news is not accurate.

I also read this news and I think this is not bad news. If Japan wants to ban Binance, this seems to be the worst at this point because Japan is the most influential country in the Cryptocurrency market. I hope this is not true and will have more accurate information in the future

[Viscera]

We don't have any idea what's going around. Something's good and bad in the market circulation. What i know is i'm holding bitcoin in my hardware wallet. I have no faith on holding alts in my binance account coz there's alot of issue going around. Though The team are responsible on how they handle that pressure.

[QueenOf]

We don't have any idea what's going around. Something's good and bad in the market circulation. What i know is i'm holding bitcoin in my hardware wallet. I have no faith on holding alts in my binance account coz there's alot of issue going around. Though The team are responsible on how they handle that pressure.

I don't know is that true or just FUD, but it news make the Bitcoin price is down.
if this problem keeps going I think the Bitcoin began to threaten.
however, I hope Bitcoin will recover soon. because I put my money in Bitcoin.

[pawanjain]

Bitcoin has been going up and down for many days now. The 24 hr price has a difference of almost $1000. So the volatility of $400 you are talking about is nothing compared to the daily volatility. I don't think that the Binance news has anything tondo with it and I personally have not heard much about it. So it is most probably just a FUD anayway. We should probably wait for some more time until the price gets stabled.

[Olalomi]

I don't think that the news has affected the price of Bitcoin. The market is just too volatile right now with the price jumping between $6k and $11k. At most it could have caused a down ward pressure on alts but I don't think it could cause a drop in price for Bitcoin.

I absolutely agreed with you the market is just behaving because of market forces not as result of  disagreement between FSA and binance the price might bounce upward any moment from now my belief is that the price is experiencing a temporary pullback.