Bitcoin Price Prediction as Crypto Prices Bounce From the Bottom – $20,000 Soon?
Bitcoin remained in a narrow trading range of $16,000 to $17,250 on Friday as the ongoing FUD continues to keep price action limited. The Securities Commission of the Bahamas (SCB) was watching FTX earlier this week.
The Financial Crimes Investigation Branch and the regulator worked together to investigate FTX's violations. The development came after FTX announced that, at the SCB's request, it would begin allowing Bahamian funds withdrawals, which the commission quickly denied.
However, recent reports show that the SCB had already taken action against the exchange days before it launched its investigation.
The regulatory body announced on November 17 that it had taken custody of the assets of FTX Digital Markets (FDM) by transferring them to a digital wallet under the SCB's jurisdiction. The commission stated that these actions were taken to protect client funds and interests.
As more regulators began to investigate the bankrupt company, FTX exchange, its situation deteriorated. The collapse of the exchange has caused significant disruptions in the cryptocurrency market.
Following this event, Bitcoin holders may choose to protect their assets by selling them. Furthermore, due to unpredictability, the price could change in any direction.
El Salvador's president, Nayib Bukele, announced on November 17 that his country will begin purchasing one Bitcoin per day. El Salvador is said to have completed its final Bitcoin purchase, 80 BTC at $19,000 each, in July 2022, three and a half months ago.
El Salvador has 2,381 BTC with an average purchase price of $43,357, according to BuyBitcoinWorldwide data.
The main factor used to calculate this amount is the president's announcement of Bitcoin investments. However, no record of the
Read more on cryptonews.com
