this pump is because of russia?

[cafter]

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

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[Nwada001]

I don't think Binance has lifted any restrictions from Russia traders because there was never a direct sanction from Binance to Russia traders, and the Russian card payment cutout was in line with International Interbank Settlement (SWIFT). If the citizens have regained access by using their cards to purchase crypto, then I guess the EU has lifted the card restrictions. There are still some forms of restrictions, though on P2P, there are some pairs that are limited to Russian access.
That being said, I don't see how this can contribute to the price pump of over 9% in BTC in the past 24 hours.

[franky1]

tax month is nearly over so its time trades start moving again

[OcTradism]

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

Binance and not only them but also other exchanges can move from one nation to another and other nations. Citizens in one country can use many exchanges, from local to global brands.

Years ago, China policies forced some cryptocurrency exchanges moved their head quarters from China mainland to other countries. The USA., Russia and other countries can contribute the same stories at different times. I think if you are in this market a few years, you will see they are not real reasons for Bitcoin pumps and more important Bitcoin growth.

The growth is come from its technology, design and its sharply increasing adoption growth. China, the USA., Russia and other countries are contributors to make a snowball effect for Bitcoin.

[Wapfika]

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

Highly doubt it. Binance just cut out the use of Visa and Mastercard for Russian citizens but they can still use the exchange using different payment methods. I think those sanctioned wallets from Russian oligarchs are still not usable and I'm sure that normal citizen already finds a way to deposit on Binance without the use of Visa and Mastercard so this restriction is not really a problem. They just got another option to deposit and withdraw but not enough to create this kind of hype.

Bitcoin is already down for fast few days. I think people is just buying the dip and not this kind of news because real hype news will put the Bitcoin price above 30K levels and stays there.

[kryptqnick]

Accepting Russian cards for deposits and withdrawals doesn't sound very nice to me. Binance expressed support of the Western sanctions and of Ukraine, and now they're just quietly lifting restrictions as if everything is back to normal? Sure, not many people expected the war to be so long, but it's not over yet, and Russians still overwhelmingly support the invasion of Ukraine and the full-scale war against Ukraine. I wonder if it's something Binance managed to do or an indicator of a bigger change, like some Russian banks being quietly removed from the Western sanctions or managing to successfully bypass them, though.

[logfiles]

Does Bitcoin price movement have to be hinged on any Country or Government decisions?

"Bitcoin pumped because Russia did this"
"Bitcoin dumped because China did this"
"Bitcoin dumped because US did this"

What if the price had dumped further? I guess the post would be like "Bitcoin dumps because binance lifts restrictions on Russian users"

Some of them are weak reason in my opinion. Price movements are a result of demand and supply, which keep fluctuating over time. Sometime's we have a coincidence of Government decisions and market movements, and then people start claiming that the pump or dump is because of this and that.

[ImThour]

No, I don't think so it's because of Russia. Also, why would you call it a pump? Bitcoin went from $31k to $29.6k.
It's just an upward move after a slight correction and it's healthy for Bitcoin price.

I am expecting Bitcoin to reach at least $32k this month. Let's see how it goes.

[KingsDen]

Does Bitcoin price movement have to be hinged on any Country or Government decisions?

"Bitcoin pumped because Russia did this"
"Bitcoin dumped because China did this"
"Bitcoin dumped because US did this"

What if the price had dumped further? I guess the post would be like "Bitcoin dumps because binance lifts restrictions on Russian users"

Some of them are weak reason in my opinion. Price movements are a result of demand and supply, which keep fluctuating over time. Sometime's we have a coincidence of Government decisions and market movements, and then people start claiming that the pump or dump is because of this and that.

I have said about this severally. At every point in time, bitcoin success or woes must be attributed to one situation or the order. Most especially situations concerning countries economy and economical decisions.
I am not blind to the fact that fundamentals drive the market but in must cases the guesses are wrong. The whole crypto market is at $1.2T and bitcoin is much bigger than those days that slight news moves its price.
But the norms have been customised, at every point in time, bitcoin success or woes must be attributed to something.

[Faisal2202]

i think just returning a exchange don't cause it, but pretty good news for russians

It's not the main factor behind this slight pump, as BTC was already in a correction state from the last week. According to my view, There was no bad factor causing BTC to dump down to $27,900 (almost) instead it was only a correction. As many analysts had predicted the price of BTC to reach around $40k in May. And we have also seen a big amount of BTC has been accumulated in the past 15 days.

And the news you shared is of the same day when BTC hit its ATL of the week ($27,199) on April 25, around 14:35 and the news was out around 25 minutes earlier, So it wasn't the main factor but it must have impacted the market from to maintain it's support level. Plus this news also represents a good factor causing BTC to maintain its pump. If such good news keeps coming then BTC will definitely go to reach $40k in May but it's only my speculation so please DYOR too.

[bittraffic]

The correction is over and now it's bouncing again as the continuation of this bull market. But Binance reopening the market to Russia must have contributed as well to this bounce. And then the EU having the first to have regulatory authority for crypto (MICA) must have helped the people in EU decide to invest in BTC.  $35K and a correction is expected again.

[Ever-young]

No, I don't think so it's because of Russia. Also, why would you call it a pump? Bitcoin went from $31k to $29.6k.
It's just an upward move after a slight correction and it's healthy for Bitcoin price.

I am expecting Bitcoin to reach at least $32k this month. Let's see how it goes.

There is definitely a high possibility for us to see $32k before the month end though it's just few days not up to a week, but this fast correction done by Bitcoin under few hours have increased my expectations.
If $32k don't happen on or before the month ends we will see it on the first coming days of May.

[Z-tight]

It is surely not because of Russia as you put it, is it because of the rumors of Binance lifting their restrictions on Russian customers, i do not think so at all, i believe Russsian customers have been using Binance even with the restriction, probably even with the help of Binance, it's very possible because there have been charges against Binance some weeks ago of them helping customers of the US escape regulations in order to use their platform.

BTC pumps or falls for more than one reason, some of the reasons may not be known and could have been going on for sometime, but when the pump or fall happens, people take whatever is the popular event at that time as the cause of it. Don't worry about Binance, Russia or the price, use BTC how you wish to, and accumulate with the dca method.

[Orpichukwu]

Does Bitcoin price movement have to be hinged on any Country or Government decisions?

Most people link Bitcoin's mass adoption and growth to countries and nations policies over the currency. If one country is to openly accept Bitcoin today and its price goes up, they assume it's all because of the public acceptance of Bitcoin done by that country.

Forgetting the fact that Bitcoin is out there surviving on its own, price goes up and down (inflation), and if the price happens to run more than it should, there are every chance that we will experience a negative drastic change in price drop, which is what we experienced in the past few days, before the price will gradually start coming back up to normal, which will make it balance well and be stronger. Fuds, taxes, adoption, etc. all contribute to both negative and positive Bitcoin price changes. But lots of people don't count those ones.

[Vickysagar]

Not really. Mostly because of the collapse of an American bank. It's not dead but took a lot of damage today. I guess people are disappointed in banks even more and come to Bitcoin.

[Aikidoka]

I don't think it's because of Russia. I think it's as franky1 said, it's more likely due to the end of the tax month in the US, so traders are moving again. The restriction on Russians may have had some impact, but even without Binance, russians could still trade freely on other platforms (most likely locally) as far as I know.

However, I could be wrong, another possible reason for these price pumps could be whales controlling the market, and it's probably them who pumped Bitcoin's price.

We will probably see a bit more increase of BTC price in the new few days till 32-33k$.

[Rruchi man]

Does Bitcoin price movement have to be hinged on any Country or Government decisions?

"Bitcoin pumped because Russia did this"
"Bitcoin dumped because China did this"
"Bitcoin dumped because US did this"

For me and some other person's here, I use to care about the reason behind every rise in value of bitcoin, but as time went on, I realise it is not so important and so stopped caring for what causes the pump, I just want bitcoin to keep pumping for whatever reason. Bitcoin pump is something to expect as someone who has invested in bitcoins. Paying too much attention to the media about what will make bitcoin pump and what can possibly make bitcoin drop as well, can get you to a level where the media greatly has an influence on you and your decision to keep hodling bitcoin. Focus on more important things.

[coinerer]

I read this news about Binance returned to Russia,
https://www.coindesk.com/business/2023/04/24/crypto-exchange-binance-is-back-in-russia-lifts-restrictions-on-russian-users-report/
i think just returning a exchange don't cause it, but pretty good news for russians

This reason may help the price of Bitcoin to rise slightly, but it will not have much effect.  But June is not too late and now gradually people will try to evade tax.  So it is only natural that the price of Bitcoin may increase slightly in the new financial year. And on the other hand, the price of Bitcoin has been in the deep for a long time, so it is time for the price of Bitcoin to rise in the normal cycle.  And because of this, the price of Bitcoin is slowly increasing

[cozytrade]

No, I don't think so it's because of Russia. Also, why would you call it a pump? Bitcoin went from $31k to $29.6k.
It's just an upward move after a slight correction and it's healthy for Bitcoin price.

I am expecting Bitcoin to reach at least $32k this month. Let's see how it goes.

There is definitely a high possibility for us to see $32k before the month end though it's just few days not up to a week, but this fast correction done by Bitcoin under few hours have increased my expectations.
If $32k don't happen on or before the month ends we will see it on the first coming days of May.

Bitcoin price is now 29$k few days ago went to dumping and went down to 27$k I hope it will go to 35$k very soon. But everyone is thinking it will be very soon. Those who invested are now waiting when the price will hige.  But I think those who didn't keep investing in Bitcoin then made a big mistake. No one has ever lost money by investing in Bitcoin. I often see many people who invest in other coins instead of investing in Bitcoin, lose money and then go into depression.  So I think we have to choose Bitcoin instead of investing anywhere else.

[woez]

I think with regards to Binance's return to Russia it is relative especially if you relate one event as the sole cause of the market moves impacting the recent pump in the cryptocurrency market, but in my opinion there are always many factors at play in the market but it is not uncommon for events news, such as changes in regulations or the entry of major players into the market, affect the price of cryptocurrencies.