Binance Denies Police Raid, Bitcoin Wipeout, Facebook 'Stupid': Hodler's Digest, Nov. 18-24

Top Stories This WeekBinance and Bithumb deny reports of Chinese police raidsHeads were turned this week when reports suggested that Binance and Bithumb, two major crypto exchanges, have closed their offices in Shanghai following raids by Chinese police.

Shenzhen identifies 39 crypto exchanges defying crypto banDespite the robust denials from Binance and Bithumb, China is keeping a watchful eye on crypto exchanges that are operating illegally in the city of Shenzhen.

Bitcoin crashes back to $7,400, completely wiping out the October rallyAfter facing a slow grind down to $8,000 in recent days, BTC/USD finally succumbed to bearish pressure and fell into the low $7,000s - the levels seen prior to Bitcoin's 42% price rise on Oct. 25.

Binance "Buidls" bridge with India, acquiring leading Bitcoin exchangeIn happier news, Binance has announced that it has acquired the well-known Indian exchange WazirX. It is hoped that the move will make access to crypto easier for a population of more than one billion people.

Bitcoin miner Canaan's IPO nets just $90 million after losing banking partnerAaaand some slightly less happy news.

The Bitcoin mining giant Canaan Creative only managed to raise $90 million in its initial public offering - over 75% less than what was expected.

"People from all over the world were buying Kings jerseys, tickets, different Kings gear. They were super excited that this team was accepting Bitcoin We even put a Bitcoin ATM in the arena. Then the Bitcoin price went up to $1,200 and they quit spending the Bitcoin."

Prediction of the WeekBitcoin may hit $4,500 but miners have mostly capitulated, analysts sayIn light of the Bitcoin beating this week, there's been no shortage of crypto pundits offering their take on what's going to happen next.

Another respected analyst, Peter Brandt, also believes that Bitcoin prices will get worse before they get better - and revealed that he believes a floor of $5,500 may be possible.

Canada: Thieves steal $4,000 from Bitcoin ATM, leave $50,000 untouchedIt's a story we've seen time and time again: thieves targeting a Bitcoin ATM. A couple of criminals in Canada decided to do just that this week - targeting the Simply Delicious Food Market in British Columbia.