• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Ethereum price

    Ethereum price expected to cross $1,300 as bulls dominate the markets

    TaxBit

    TaxBit receives investment funds from PayPal and Coinbase

    Cardano price prediction_ ADA to retest $0.35, analyst

    Cardano price prediction: ADA to retest $0.35, analyst

    Crypto market cap

    Crypto market cap reaches ATH: crosses $1 Trillion

    Litecoin price prediction_ LTC to $180, analyst

    Litecoin price prediction: LTC to $180, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Ripple

    Ripple can serve as a bridge between CBDCs

    Analyst Willy Woo explains why BitMEX case is bullish for Bitcoin 1

    Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Ethereum price

    Ethereum price expected to cross $1,300 as bulls dominate the markets

    TaxBit

    TaxBit receives investment funds from PayPal and Coinbase

    Cardano price prediction_ ADA to retest $0.35, analyst

    Cardano price prediction: ADA to retest $0.35, analyst

    Crypto market cap

    Crypto market cap reaches ATH: crosses $1 Trillion

    Litecoin price prediction_ LTC to $180, analyst

    Litecoin price prediction: LTC to $180, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Ripple price prediction: Rise to $0.45 ahead, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Bitcoin price prediction: BTC to $43,000, analyst

    Ripple

    Ripple can serve as a bridge between CBDCs

    Analyst Willy Woo explains why BitMEX case is bullish for Bitcoin 2

    Conversation with Norbert Goffa – Сo-founder of ILCOIN – about the cryptocurrency market, trends and vision

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Bitcoin News

Analyst Willy Woo explains why BitMEX case is bullish for Bitcoin

Ibiam Wayas by Ibiam Wayas
October 3, 2020
in Bitcoin News
2 min read
Bitcoin mining difficulty nears ATH after nearly 9% increase in latest adjustment
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Two days ago, the United States Commodity Futures Trading Commission (CFTC) brought charges against popular digital currency derivatives platform, BitMEX. The exchange, among other things, was accused of operating illegally since it wasn’t registered with the regulator. Following the reported charges, most traders on the exchange seemed alarmed and triggered their withdrawal mode.

As of Cryptopolitan reported on October 2, more than 32,200 Bitcoins were withdrawn from the derivatives exchange, and that represents about 19 percent of the entire funds locked with the exchange for trading purposes. Those withdrawals caused a massive outflow of Bitcoin from BitMEX, which, on the other hand, was relatively increasing the inflows of other digital currencies exchange and non hosted wallets. 

Willy Woo: Traders are panicking for the wrong reason 

While BitMEX-CFTC development seems not encouraging for the cryptocurrency, popular on-chain analyst, Willy Woo, has recently shared that it is bullish for Bitcoin. At first, Willy Woo explained that the cryptocurrency market, especially the traders on BitMEX, are fundamentally panicking for the wrong reason. None of their digital currencies were reported to be lost, and neither was the derivatives exchange hacked. 

RelatedPosts

Bitcoin price prediction: BTC to $43,000, analyst

Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

Bitcoin supply liquidity on the decline

Bitcoin price prediction: Analyst suggests hodling

The CFTC charges against the exchange will instead, help to clean up the market from the dirty practices of Futures exchanges. While citing on-chain fundamentals, Willy Woo explained that there is a high influx of new Bitcoin investors presently, compared to the record noted during the mania phase of the last cycle (Dec 2017). However, the development isn’t reflecting on the price of cryptocurrency because of the ‘unfettered’ trading practices of derivatives platforms.

On this note, Willy Woo said that “BTC is going to pop.”

Fundamentally the market is scared for all the wrong reasons.

MEX did NOT get hacked. No traders will lose coins.

Futures exchanges will clean up their practices.

We’ll see less volatility, less scam-wicking, more spot volumes, more organic moves, more institutional money.

— Willy Woo (@woonomic) October 2, 2020
Tags: Bitcoin Industrycryptocurrency trading
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

Related Posts

Bitcoin price prediction: BTC to $43,000, analyst
Bitcoin News

Bitcoin price prediction: BTC to $43,000, analyst

January 7, 2021
Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly
Bitcoin News

Bitcoin price analysis – BTC eyes $40,000 as bulls push forward relentlessly

January 6, 2021
Bitcoin
Bitcoin News

Bitcoin supply liquidity on the decline

January 6, 2021

Follow Us

  • 40.6k Fans
  • 8.3k Followers

Latest News

Ethereum price

Ethereum price expected to cross $1,300 as bulls dominate the markets

January 7, 2021
TaxBit

TaxBit receives investment funds from PayPal and Coinbase

January 7, 2021
Cardano price prediction_ ADA to retest $0.35, analyst

Cardano price prediction: ADA to retest $0.35, analyst

January 7, 2021
Crypto market cap

Crypto market cap reaches ATH: crosses $1 Trillion

January 7, 2021
Litecoin price prediction_ LTC to $180, analyst

Litecoin price prediction: LTC to $180, analyst

January 7, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 3

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2020 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.