Is the cryptocurrency market headed for destruction or can we expect something bigger to come?
What is destruction to you? You are correct if it means that a lot of other exchanges and online accounts are probably going to go bankrupt and individuals who have used these online acounts as banks will lose their funds, that is what the warning is about, FTX is going to take other centralized crypto establishments down with it, so crypto individuals should store their funds in their own wallets to prevent this '
destruction'
I don't think so because with a price reduction or what is called a bear market, it often happens. from before too. but of course we have to be careful and secure our assets because there have been many cases that have caused many people to suffer losses. so our assets must be secured. but in my opinion crypto will not be destroyed, during there are still many who are interested in investing in crypto.
Your crypto assets or funds should be secured in your own custody whatever the market price may be. The current warning by the way is about keeping your crypto in the right place, and also holding the right crypto; the right place being in self-custody, and the right crypto being a decentralized one, and not centralized altcoins or native tokens of online accounts!