Why Bitcoin’s Next All-Time High Looks Distant After the Binance Hack

The biggest theft in crypto history, the $6.3 billion Binance hack , is already showing its scar on the crypto market. After a month of moving between the $80,000 and $85,000 range, Bitcoin has dropped to $76,000 since the incident. Binance has yet to resume its withdrawals, which is expected to create more pressure on markets when users of the largest exchange are able to sell their funds. Analysts at BeInCrypto’s Market Intelligence Council are now split on what impact this will have on Bitcoin’s price. Is Decentralization Becoming Crypto’s Weak Spot? Charles Edwards, founder of Capriole Investments, reacted within minutes. “If the king can’t protect itself, how can any other exchange be trusted? How can ‘smart’ contracts be trusted? How can elliptic curve cryptography be trusted?

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