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Bitcoin Drops Below $8000 as OKEx CEO Joins Rival Crypto Company

Bitcoin Drops Below $8000 as OKEx CEO Joins Rival Crypto Company

Bitcoin is trading below $8000 for the first time in months as OKEx suspended withdrawals and any fiat trading.

CEO Li Shufei resigned on May 14th and has joined the rival crytpo company Huobi on May 18th. OKEx currently has the third largest 24-volume according to CoinMarketCap at $195K.

Bitcoin is fighting a bear market and regulations of ICOs continue to hurt the price. Canadia and US regulators joined to launch Operation Cryptosweep in an attempt to rid the market of those using false marketing and statements to grant fake coins.

Even with Bitcoin dropping, blockchain trials continue to move forward where banks in Norway, Sweden, and Switzerland where digital currencies are still be tested and analyzed. While we continue to ride out the wave, it’ll really test the confidence of some HODLers of Bitcoin.

Been in the game for 2 years but I still consider myself a rookie. There’s way too much info out there for anyone to comprehend, so I try to get only the best news on cryptoculture and new currency that’s coming out in the world of Bitcoin and cryptocurrency. I’m here to share my thoughts on what could be the answers to many of the world’s financial issues. Contact me with tips!

Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.

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