What major event happened recently that would require a big purchase and have the price go up? The Binance hack. That’s the only explanation I could come up with. The problem is will it hold the price after they have enough to cover everyone’s accounts...
If I remember correctly the withdrawals are held for a week and those funds need to be placed in before withdrawal is allowed back on accounts. So is the Binance buy-back to cover its users this week causing this price spike? So we may see a week of Bitcoin rising until trading accounts are allowed to withdraw? We still haven't seen the effect the Binance hack will have on the market because people aren't allowed to sell ad have Binance buying Bitcoin back for their accounts.BE CAREFUL. (Correct me if I’m wrong in this paragraph)
What are your thoughts? Is it something else? I really think this is what’s driving Bitcoin up but leaving alts low. Problem is it's only a week long event as Binance is rushed to place the Bitcoin back on everyones accounts in a week.
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