Bitcoin Co. one of the biggest crypto exchanges in Thailand unexpectedly announced that it will cease its operations by the end of September. The announcement scared investors on Bitcoin Co., who were selling bitcoins for as little as 6500 USD, while the current price of the digital currency remains close to 10 000 USD. In a letter to investors the exchange says that it wants to focus on “other business opportunities,” without elaborating further, and that it will stop accepting any deposits on September 6th, while the platform itself will be shut down on September 30th. After the end of September clients will have until November 1st to withdraw any of their remaining funds either to bank accounts or to digital wallets.
The average bitcoin player is pretty dumb, so selling a 10k bitcoin for 6500 is perfectly believable. One day all bitcons will be worthless, so 6500 is actually a good price
The average naysayer-nocoiner is too stupid to understand the mathematics and system complexities of the Bitcoin distributed, decentralized, immutable, censorship-resistant network infrastructure. They'll point out negative events that happen halfway across the world that has no significance to anyone who doesn't trade in that exchange which is the overwhelming majority of US residents. They have no creativity and would keep on bringing up the same old tired Tether argument for years. These nocoiners will ignore the fact that NYSE/ICE, Fidelity, ETrade, Ameritrade, Twitter/Square, Goldman Sachs, CME, Nasdaq are Wall Street heavyweights that are on-board on this Decentralized Finance Technology revolution. They think they are smarter that these guys. Good luck with that.