Despite so many good news that have come to the crypto but none of these news were creating the hype. The bad news were still dominating the crypto market. I think that the latest news came from the genesis has been ruining the crypto market again, lending platform keeps halting user's money. This may make people starting to distrust the crypto market. I thought that if the trust will not come easily to the crypto market again. The bad news has been dominating everything.
Bitcoin is not so strong to handle it. It's not easy to attract the billions dollars that have been going away from the cryptocurrency.
But that's what happens in a bear market. Things take time to turn around and to get people trusting markets again isn't one week job. It could take a year and many people will quit at the bottom. This is something we have seen many times, but as it's happening on bigger and bigger scale EVERYONE is seeing it. And from what i pick up at reddit and different forums, public still don't get it. They think because it''s ponzi, and because FTX was ponzi. And they are happy it happened to "annoying" crypto people and i totally understand the bitterness. They don't even get that most of us are cynics too, they think we are all moonbois and libertarians and make articles like this. But that's their loss.
~
And OP right, big businesses understand that crypto is volatile and probably now are buying projects that they see solid and important, not just hype.
That is the thing! People judge by the sensational news of the FTX cascade, and in consequence, they perceive the whole ecosystem is damned. Bitcoin obituaries have been spread many times, and right now they gotta fills the number again. It is a seasonal thing of a bull and bear market, and this time won't be the last time. Cryptocurrencies have gained a tremendous amount of impression over this year and last year, yet, it won't stop just right here.
Those media are just playing a clickbaity title while it is still hot, and fulfilling the ego of crypto doubters.