Crypto News Flash #209: Amidst Bearish Market, Bitcoin Price Spiked To $9000 On Cryptocurrency Exchange WEX

Well, after a brief retracement to $6800, Bitcoin has again turned Bearish. Currently, Bitcoin is trading at $6200 and looks pretty Bearish. Bears is in absolute control as of now and majority of people are panic selling. 

Now amidst all this panic selling which started around 24 hours back, there's one crypto exchange named WEX where price of BTC has risen to $9000 for a brief moment. While majority of crypto exchange never recorded any price increase in BTC price above $6850 in last 70 days, WEX exchange recorded a price spike of BTC to $9000 for a brief moment. 

WEX is a Singapore-based crypto exchange which generates decent trading volume. If we look at the sources, then this price manipulation has caused in BTC-USDT pair where USDT price has also risen to $1.32 which was supposed to trade $1.

BTC is still trading above $8000 on WEX exchange despite the global price of $6200 as of now, a $1800 premium price over global prices. 

Although, it hasn't confirmed yet what causing this price increase, but people are speculating a price scam or the USD insolvency at the exchange. 

Whatever the reason is, WEX users are enjoying a premium selling price of BTC in this bearish market.

Thanks for reading ...!!

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