Bitcoin is predicted to rise to $ 40,000 amid problems with the Binance crypto exchange

The flagship crypto asset BTC $65,755.33 Bitcoin -0.33% Market capitalization $1.3 trillion VOL. 24 hours $0.6 billion may exceed $ 40,000 by the end of 2023. Bitcoin’s growth will occur immediately after the settlement of claims by US regulators against the cryptocurrency exchange Binance and its ex-head Чанпен Чжао" href="https://noworries.news/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao. This was stated by Matrixport analysts in their profile on the X platform.

Crypto experts called this event a «turning point» for the crypto industry.

On November 21, Binance agreed to pay $ 4.3 billion to FinCEN and OFAC, Changpeng Zhao resigned as CEO and posted a $ 175 million bail to remain free.

Crypto industry experts suggest that the fine could have been as high as $ 10 billion, and the crypto exchange could have faced charges of misappropriation of investor funds or market manipulation.

«In light of the news, bitcoin went into a temporary correction, but bounced back from $ 36,000, confirming a strong trend within which growth above $ 40,000 seems «inevitable,» the experts emphasized. — «We expect the price to exceed $ 38,000 by the end of November with an 80% probability, followed by a rise above $ 40,000 in December with a 90% probability.»

Context:

on June 5, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance and the crypto exchange’s chairman Changpeng Zhao, accusing them of violating securities trading rules, mismanaging customer funds, and misleading investors and regulators. The investigation has also led to a significant deterioration of the exchange’s position in Europe. Amid the general pressure, top managers began to leave the platform in large numbers.