Bitfinex’s lack of communication with users is worrying, and it has not made any statement on previous banking issues

Golden Finance News - Recently, the Bitfinex platform has not made any relevant statements regarding previous banking issues, and many users have expressed concern.

Many Bitcoin users are increasingly concerned about exchanges on the Bitfinex trading platform. Image source: Golden Finance

Although it is not easy to establish new partnerships with financial institutions such as banks, people still deposit legal currency into accounts on trading platforms, which has artificially inflated the price of Bitcoin and may even lead to a Bitcoin price bubble.

Bitfinex is not the only exchange to have this problem, but its lack of communication with users is worrisome, and Bitfinex has not released a solution. Also, not all Bitcoin price increases are positive, and once China and Bitfinex resume withdrawals, the price could drop pretty quickly. It’s a tense situation right now.

Many Bitcoin users are increasingly concerned about the exchange Bitfinex. It is well known that the company is dealing with banking issues. However, Bitfinex has not been in the news for two weeks. Forging a new banking partnership is not easy by any means, and despite these issues, its exchange rate continues to set higher Bitcoin prices every day.

Two weeks ago, the company mentioned that there was a dispute with their Taiwan bank account. Image source: Golden Finance

This seems to be the primary question on everyone’s mind right now. No one knows exactly what the situation is with the Bitfenix exchange at this stage. Two weeks ago, the company mentioned that they were having a dispute with their Taiwanese bank account. Since that time, Bitfinex has not had any significant updates to inform users. The development is very disturbing, considering that the exchange is still trading.

Despite the current banking problems people are still depositing USD into their Bitfinex accounts. However, withdrawing funds in USD is now almost impossible. This will artificially inflate the price of Bitcoin, which currently sits at US$1,546. The gap with other major exchanges has increased to US$125 in the past few days, and other exchanges are trying to catch up with the Bitfinex trading platform Bitcoin price, which will eventually lead to a price bubble.

China and Bitfinex trading platforms resume Bitcoin withdrawals, prices may plummet Image source: Golden Finance

While Bitfinex isn’t the only company with such painful issues, its lack of communication with users is worrisome. It’s important to note that Bitfinex is not bankrupt by any means, and the lack of updates so far, while not affecting the price of Bitcoin, is a matter of time.It’s been almost two weeks since the last update, which is far too long.

It is clear from the developments in the Bitcoin world that none of the exchanges have been able to successfully resolve the issue of dollar withdrawals due to the lack of liquidity. As you all probably know, banks do not want to work with Bitcoin companies in any way. Finding new opportunities for cooperation and development has proven to be quite difficult. Once Bitcoin withdrawals are restored in China and on the Bitfinex exchange, the price of Bitcoin could plummet rapidly.