We saw earlier this month after China ban other crypto except for Binance and Vechain, the whole crypto market got bogged down to an all time low for most coins including the Chinese crypto currencies. All these happened during the 3 month long crypto degeneration and mass disinvestment influenced by market manipulative actions and public post by highly influential peoples.
The most recent news is the probe into the $130Million money laundering case through Binance. The Indian investigation agency CBI has been tracking a huge money laundering scam worth $130 Million through the Binance network of blockchain. This new development is going to take a huge turn on the crypto market if proved that such incident of money laundering actually occurred on the network. What worries is the drop down in price of crypto assets which are built on the Binance blockchain such as Binance, Tron or WazirX etc. And another interesting thing about the crypto market is that if one network of blockchain is hit then other networks also takes the same turn and get influenced as a result. If this happens then the recent recovery of Bitcoin and other crypto assets would have to start all over which is not what crypto investors wants. Yes, it is also true that the dip or hit may be for many be an opportunity to reinvest in the market seizing the opportunity of the low market. At the same time for those who are trading on a daily basis need to understand where the market is going.
Another concern is the possibility of huge disinvestments and distrusts among the high profile crypto investors which will be reflected in the prices of the assets. In the past 4 months we have seen huge action of dumping and unsustainable transfer of assets by high profile investors which actually let to the 2 month long bearish market. With the Binance's new development, there is a high chances of a similar outcome impacting the interest of potential crypto investors and the old players of the market as well. So take utmost care while investing at the same time understand that the whole of Cryptoverse is actually reliable but it's only a few individuals manipulating it and all of us can stand strong and not let actions of these manipulators prevail over the ethical side of the Cryptoverse.
