We may receive financial compensation from these third parties. Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. It means that it will be lower than that of gold, which makes it an attractive asset to those looking for a hedge against inflation in times when inflation reached alarming levels, even in the developed world. Throughout the years, the number of users and holders increased considerably despite the industry being challenged constantly by fraudsters or, in this case, lawsuits.īy April 2024, Bitcoin’s inflation rate halves again. More and more people use or hold Bitcoin. This scarcity makes Bitcoin attractive in the eyes of many investors, as it resembles a digital store of value.
The upper limit of supply is mathematically fixed at 21 million. Given how strategically important these two players are for the industry, how come Bitcoin price remains resilient? Here are three reasons that might explain such resilience: Moreover, the SEC filed court documents to freeze Binance’s US assets. Second, Coinbase was sued by the same authority for operating as an unlicensed broker in the US. In a span of 24h, several things challenged the market again.įirst, Binance, one of the largest crypto exchanges in the world, was sued by the Securities and Exchange Commission with thirteen charges. Once again, cryptocurrency investors are tested. Scarcity, inflation rate halving, and an increase in the number of users help Bitcoin.
Binance and Coinbase are sued by the SEC.
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