$BTCUSD Forex Signal: Dead Cat Bounce Could Happen BITCOIN
Bitcoin plunged to a low of $25,500, the lowest level since March. This decline means that one Bitcoin price has crashed by more than $6,000 from its highest point this year.The main catalyst for the plunge of Bitcoin price was the decision by the Securities and Exchange Commission to sue Binance and Changpeng Zhao, the company’s CEO. In a statement, the SEC accused the company of offering unregistered securities in its ecosystem.
“Through 13 charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law.” The lawsuit by the SEC is notable because of the 13 allegations. It is also important because of the role that Binance plays in the crypto ecosystem. It is the biggest exchange in the world, handling billions of dollars worth of cryptocurrencies every day.
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