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The post CoinDCX Users Slam Exchange Over Withdrawal Restrictions and Delayed Support appeared first on Coinpedia Fintech News Indian cryptocurrency exchange CoinDCX is facing criticism on social media due to restrictions on crypto withdrawals. Many users have reported issues such as failed INR withdrawals and delays in resolving their support tickets, with some claiming their withdrawal requests have been pending for weeks. This has led to growing frustration among users. The confusion surrounding CoinDCX’s withdrawal policies has raised questions about the platform’s Know Your Customer (KYC) procedures. Users are concerned about inconsistent rules, with some speculating that the sudden changes to withdrawal processes could indicate potential issues with the exchange’s regulatory compliance. As the complaints continue to mount, CoinDCX faces increasing scrutiny over its handling of user funds and policies. As reported by Analytical Insights, CoinDCX co-founder Sumit Gupta addressed the ongoing withdrawal issues, explaining that relaxing withdrawal restrictions could pose a risk to the exchange, as authorities might freeze bank accounts. Gupta clarified that crypto withdrawals on CoinDCX currently operate on an opt-in basis, with the process being carried out in stages. However, he did not provide a specific timeline for when these withdrawals would be fully available to all users. WazirX Scare Looms On July 18, a devastating hack on WazirX, India’s largest cryptocurrency exchange, resulted in the theft of $230 million, affecting 15 million users. Despite the platform’s strong security measures, cybercriminals breached one of its main trading wallets, siphoning off over 50% of the exchange’s assets, which amounted to more than $230 million. The stolen funds have led to significant financial loss for investors, with the stolen assets laundered and uncertainties surrounding the legal and financial repercussions. As a response to the breach, WazirX froze all trading and withdrawals, a measure that remains in effect as the company continues to investigate and recover from the hack.
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Bernstein Analysts Reaffirm Bitcoin’s $200K Price Target for 2025
Bitcoin’s journey to mass adoption continues to gain momentum, with analysts from research and brokerage firm Bernstein predicting that the cryptocurrency will reach a $200,000 price target by the end of 2025 . This forecast, shared by The Block , attributes Bitcoin’s rise to increasing demand from institutional and corporate entities while excluding potential government purchases. If realized, this milestone would solidify Bitcoin’s position as a global store of value, further transforming the dynamics of ownership and adoption across markets. Key Drivers of Bitcoin’s $200K Prediction 1. Institutional and Corporate Demand Bernstein analysts highlight the growing role of institutions and corporations in driving Bitcoin’s value. Bitcoin ETFs : The increasing prevalence of Bitcoin ETFs is facilitating easier access to the asset for retail and institutional investors. Corporate Treasuries : Companies like MicroStrategy and Tesla have set a precedent by integrating Bitcoin into their treasuries, inspiring other firms to follow suit. 2. Ownership Shifts to Long-Term Holders Gautam Chhugani, Managing Director at Bernstein, notes a key trend: Price Consolidation Below $100K : Bitcoin’s price remaining under $100,000 is prompting a shift in ownership from short-term traders to long-term holders. Entities like MicroStrategy and Bitcoin ETF investors contribute to this “permanent” ownership model. The Potential Role of Governments While Bernstein’s projection excludes government demand, the report acknowledges the potential for a game-changing shift if nations begin to include Bitcoin in their national reserves . What Could Happen? Triggering Global Competition : A U.S. decision to hold Bitcoin could spark worldwide competition among nations to acquire the cryptocurrency. Impact on Supply : Government demand would create significant scarcity, accelerating Bitcoin’s price rise. Bitcoin’s Road to $200K: Milestones and Challenges Milestones to Watch Increased ETF Adoption : A higher number of Bitcoin ETFs could lead to substantial capital inflows. Corporate Adoption : More companies adding Bitcoin to their treasuries would enhance its credibility as a reserve asset. Challenges Regulatory Risks : Regulatory uncertainty remains a key hurdle for Bitcoin’s price growth. Market Volatility : Bitcoin’s historical price swings may deter cautious investors. Comparative Analysis: Institutional and Government Demand Factor Institutional Demand Government Demand Impact on Price Gradual and sustained Sharp and exponential Likelihood High Moderate (dependent on geopolitical shifts) Potential Catalysts ETFs, corporate treasuries U.S. or major economies adopting Bitcoin FAQs Why does Bernstein predict Bitcoin will reach $200K by 2025? Bernstein’s forecast is based on rising institutional and corporate demand for Bitcoin, excluding potential government purchases. What role do ETFs play in Bitcoin’s price prediction? Bitcoin ETFs provide a regulated and accessible way for institutions and retail investors to acquire Bitcoin, contributing to increased demand. How could government demand impact Bitcoin’s price? If governments begin including Bitcoin in their national reserves, it could trigger global competition for the asset, significantly driving up its price. What factors might delay Bitcoin’s rise to $200K? Regulatory uncertainty, market volatility, and slower-than-expected institutional adoption could delay Bitcoin’s growth. Who are the long-term holders driving Bitcoin’s value? Companies like MicroStrategy and investors in Bitcoin ETFs represent a shift towards long-term ownership, stabilizing Bitcoin’s market dynamics. Conclusion Bernstein’s $200,000 Bitcoin price prediction for 2025 underscores the growing influence of institutional and corporate demand on the cryptocurrency market. While the forecast excludes government purchases, the potential for global competition among nations to acquire Bitcoin adds another layer of intrigue. As ETFs and corporate treasuries increasingly dominate Bitcoin ownership, the path to $200K seems plausible, provided the market navigates regulatory and adoption challenges effectively. Investors and stakeholders should remain vigilant as the cryptocurrency landscape continues to evolve. To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential to disrupt traditional industries. coinpedia
Dogecoin’s Breakout Above $0.38 Suggests Potential Momentum Shift Amidst Volume Concerns
Dogecoin has staged a significant price breakout, reaching $0.38, hinting at a possible shift in market momentum despite some underlying cautions. The recent success above critical EMAs indicates renewed buying coinpedia
