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Will Bitcoin Hold Above 13000 In November?

Nov 2, 2020 Forex News

Bitcoin price closed the monthly candle at $13860. This is the highest price this year. However, investors are wondering if the bulls can keep the Bitcoin price above $13000 in November?

In addition to the bears' attempts to lower the price, Bitcoin is facing new fundamental factors that have a negative impact on the price of Bitcoin. The largest exchange, Binance, is at the center of a scandal that could affect the price of Bitcoin, as was the case with Bitmex. Japanese company Zaif accuses Binance of money laundering. The exchange allegedly stole $60 million when Zaif was hacked in 2018.

Also, the exchange is accused of the fact that its corporate culture is aimed at deceiving regulators and making a profit from American investors.

Regardless of how events unfold, a headline in major publications will be enough to negatively impact the price of Bitcoin. The situation can develop according to two scenarios. The first option is if only the exchange suffers, and the price of Bitcoin drops slightly. The second option is if the exchange suffers and this significantly affects the market. As we know, Binance is the world's largest cryptocurrency exchange. And it plays an important role in the market not only for bitcoin, but for the entire cryptocurrency market.