Bitcoin Falls Below $57,000 Last Night, Creating Buying Opportunity

The bitcoin price dropped 1.19% tonight (Dec. 1) at 12:04 a.m., hovering at $56,610.68.

That movement followed news that “Huobi,” a Chinese cryptocurrency trading company, has chosen Singapore as its headquarters in Asia and hopes to use Singapore as a springboard for expanding cryptocurrency investments.

Huobi Group, China’s largest cryptocurrency exchange operator, will also choose a European headquarters in 2023 with France or England currently being the choice.

Setting up an official headquarters in Singapore signals further separation from China since China banned all types of crypto transactions and services in China last September. Beyond that, the platform will remove all Chinese users from the system by the end of the year.

With the establishment of its headquarters, Southeast Asia is considered by Houbi as a highly attractive market. Indeed, the number of crypto traders has quadrupled in the last month.

The Spot Market is Open

Wednesday, December 1, 2021

Crypto
Updated at
USD
Price

Change

%Change
11.00 BTC57,331.76-781.07-1.34
11.00 ETH4,747.00+140.64+3.05
11.00 LTC211.75-1.90-0.89
11.00 BNB631.24+7.83+1.26
11.00 XRP1.01+0.01+0.60
11.00 ADA1.58-0.01-0.88
11.00 DOT38.19+0.94+2.52
11.00DOGE0.22-0.01-3.19
11.00 UNI22.27+1.28+6.10
11.00 LINK26.06-0.13-0.50

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