Crypto market will be able to bypass restrictions if Binance stops serving US customers

The crypto industry will be able to find another path if Binance stops serving US customers. This opinion was expressed by the head of Blockstream company Adam Back.

He compared the digital asset market to water, stating that “it just goes with the flow.” According to Back, there are always alternative development scenarios, and “every problem just moves things to another place.”

“The system is antifragile. Some other company that had a different strategy will get a large number of new users. There is a market and there is demand. As soon as an exchange closes or stops serving customers, people simply switch to another one,” the expert noted.

Back believes that in case of limiting dollar accounts, users will use euro deposits for transactions in another currency. Several European banks, as well as financial institutions in Gibraltar, remain quite loyal to cryptocurrencies.

The recent actions of the SEC related to the prosecution of large cryptocurrency exchanges, the fall in the rates of digital coins could encourage investors to get rid of their crypto assets. But current data suggests that the behavior of short-term BTC holders has demonstrated a desire to stay in the market and continue to earn.

Crypto analyst CruptoQuant stated that, despite the fall in the rate of bitcoin, which is in the range from $25,000 to $26,000, the possibility of coin growth has not yet been exhausted. Comparing the current situation with 2019, the expert pointed out that the profitability of long-term and short-term owners of digital assets was not too high to provoke significant pressure from sellers.

This trend indicates that the cost of BTC may increase along with a new wave of demand. Another proof of the stability of the mood of short-term and long-term bitcoin investors was the information from Glassnode, which confirmed the conclusion that investors intend to hold onto their assets for the time being. The company’s analysts noted that “hodling remains the main strategy of the market, as BTC supporters remain firm in the face of adversity.”

Do you agree with such conclusions?