Sunday, February 19, 2023

[Serious] Can someone explain exactly how bad news like the apparent crackdown on Binance is causing Bitcoin's value to go *up*?

Bitcoin is currently going up despite all the bad news in crypto; in fact, it went up at around the same time there were crackdowns going on related to Bitcoin. I know people would probably say that the price of Bitcoin is manipulated and no longer makes sense compared to real events, but seriously: what exactly would cause the Binance stuff to make Bitcoin's value go *up*, as opposed to it going down like back when the first waves of exchange withdrawal pauses and later on FTX's collapse happened?


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