Bitcoin Price and Binance

[ShowOff]

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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[Sanitough]

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.

[malikusama]

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.

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

Yes they did.

[jakelyson]

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.

[Herbert2020]

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.

[Distinctin]

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.

[KlepZ]

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.

[xvids]

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.

[KennyR]

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

[omonuyak]

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.

[SaShiRaJaVu]

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  .

[ene1980]

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.

[el kaka22]

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.

[justspare]

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.

[Naida_BR]

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.

[nydiacaskey01]

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.

[coinluisa]

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.

[LimLims]

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.

[Psynthax]

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  .

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.

[Fredomago]

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.