After almost 9 years of playing around with bitcoin and cryptos I have nearly seen it all.
wow you've been in this market for a long time, you've been almost 10 years now, you've been in this market for many, many years, in my case I've been in this market for 5 years, I'm still new to the market but I've already seen a lot of things, especially in the times when china dominated the market where whatever the chinese government said the price of bitcoin fell at the same time, those were dark times
The crypto winter kicked off and the first casualty was Luna... 6 months later we watched Ftx collapse, and now many "Trustworthy" and "Safe" exchanges are playing games with user funds due to the mismanagement of assets and too much exposure to Ftx.
What happens next?
this is a problem that has no solution in the short term, governments have not made laws to be able to carry out inspections on exchanges, so we are all just going to continue using exchanges, of course we have to use them with caution and suspicion and not use exchanges as if they were wallets , but that's all we can do, there's no other short-term solution. we need exchanges to trade, so we will have to use them
Did too many people get burned too bad this time?
no doubt that this time many people were burned a lot and it will not end anytime soon and will end up in the courts and will end with arrests, the fact is that the size of the hole is very big and many people lost a lot of money
Is the negative outlook too much now?
yes, for the time being there is no way to be positive given that there is not even a short-term solution to this whole problem yet, the market has a greater chance of going down a lot than going up, so we are going through dark times
Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?
the only thing people can do is hodl for as long as they can