Bitcoin trades to a new session low and the lowest level since November 2020

Reports that Binance deal with FTX exchange is likely not to go through has sent Bitcoin and the FTX token currency FTT lower.

The price of bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Read this Term has moved to a new session low of $16936. That took out the low price from yesterday's trade at $17,114. The price has not traded this lower since November 2020. The price is down over 6% on the day.

Looking at the daily chart, the price earlier this week (and last week), moved above the 100 day moving average only to tumbled lower yesterday on the back of the FTX currency exchange news.

Since a high last week on November 9, the price of the digital currency has fallen over -21% from that high.

Meanwhile, FTT continues its tumble to the downside that has seen its price lose 89% from the high last week. It traded at the lowest level since May 2020 yesterday (at $2.73) before rebounding higher. The low today has reached $3.27 after bouncing to a high of $6.38. .

It is not looking good for FTX which will likely lead to losses of client funds IF there is not a knight in shining armour that comes to the rescue. It will also lead to increasing expectations toward more regulation Regulation Regulation is a key attribute of any forex broker in the retail industry. When investing money with a brokerage it is important to first see if they are regulated as this affords several client protections and safeguards.The financial services industry is tightly regulated to help prevent illicit behavior and manipulation. This is not unlike any other industries with a high net worth, that rely on transparency.Each asset class has its own set of protocols put in place to combat their respective Regulation is a key attribute of any forex broker in the retail industry. When investing money with a brokerage it is important to first see if they are regulated as this affords several client protections and safeguards.The financial services industry is tightly regulated to help prevent illicit behavior and manipulation. This is not unlike any other industries with a high net worth, that rely on transparency.Each asset class has its own set of protocols put in place to combat their respective Read this Term as the wild, wild west of the crypto space starts to unravel.

I can't help to think back on how the forex market in the US was overly regulated back when, yet the crypto market gets a free pass with risk and other issues that are much more troublesome from many more different angles.

On the otherhand, regulating and having the manpower to do so, is a totally different story which perhaps is the reason it goes on and on. Then there is the political "will" which lobbyist can influence especially in the current political environment where every vote counts. Just ask those that support gun control.