Bitcoin Price Analysis: BTC Liquidity Takers, It’s All Over For QuadrigaCX

  • Bitcoin price ranging within a $155 zone
  • QuadrigaCX is bankrupt
  • Transactional volume low but set to increase as bull momentum pick up

A Canadian crypto exchange, QuadrigaCX, has filed for credit protection asking the court to assign Ernst & Young Inc to overlook proceedings. Nevertheless, their folding didn’t affect BTC prices which are finding support at $3,500. It is likely that BTC will edge higher over the weekend and retest $3,800.

Bitcoin Price Analysis

Fundamental Analysis

Its curtain falling for perhaps what was once the oldest cryptocurrency exchange focused primarily on the Canadian market. Claiming to be 100 percent Canadian with offices in downturn Vancouver, QuadrigaCX appealed to Canadians allowing them to buy and sell a limited number of coins including Bitcoin, Ether, Bitcoin Cash and most recently, Bitcoin Cash SV.

All the same, their trouble with liquidity did have the better of them, and after failing to secure a relationship with several banks, the exchange…

Read Full Story : NewsBTC

2019-02-01 17:00:40

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