The Bitcoin price shock to test how strong the belief is in choosing Bitcoin as an investment just happened.
$15,880.78 closing price on Nov 09, 2022 and for us it is a test of weakness or strength in holding on to Bitcoin.
The decline in the price of Bitcoin due to the chaos between the two largest exchanges I don't think will last very long although at this time the test of patience for those who hold Bitcoin must be implemented immediately because I am still very confident that Bitcoin can still rise again this year to the price of $ 20K.
There is news about FTX stopping access for withdrawals and other problems that have made many people hesitate to continue investing in Bitcoin.
There is now a lot of news about FTX and Binance circulating from early November to now and I will tell you about the cause of the havoc that the two biggest exchanges (Binance and FTX) have wrought. You can take a look at cointelegraph.com where the story between cryptocurrency exchange Binance and FTX quickly unfolds and here are the details.
Source:
https://cointelegraph.com/news/ftx-and-binance-s-ongoing-saga-everything-that-s-happened-until-nowAgain, stay relaxed.
For us, this decline is normal because Bitcoin was once far from its current price. But what about the new ones?
Some people are still relaxed about this catastrophe, but some people seem to panic and even release their assets into the market. For other things that are new I also do not know it.