Recent fall of FTX shook the crypto ecosystem Also It has come as a lesson for crypto world, though an expensive one.
There are many crypto assets that are currently in the market and are backed by nothing. This has shown that when it becomes too risky to invest in shit coins and why we should avoid it.
Moreover it's becoming clearer that in future a lot of shit coins are going to fall on their face and wipe out from the system.
The fall of FTX also showed the lacuna of POS as well. While ethereum moved to POS. I believe it has in one way or other affected the crypto ecosystem to lead to this fall.
Believe it or not the future is of crypto regulations. The thousands of crypto projects which have been launched without any meaningful backing are going to fall on face.
It's time of retribution for those altcoins
All the naysaying and scepticism of bitcoin will going to end soon. As in a well regulated market only are few currencies will be traded. And for sure bitcoin will lead from front.
Bitcoin is in a cycle of death and rebirth ever since it gained public traction. Not too long ago we experienced once of the worst bear markets in history, dropping bitcoin's value to almost below the 10k support price, yet in a few short months the market bounced back and bitcoin achieved high value status and set a new all time high at around 60k. I don't think strong hands are afraid of another dump or whatever. We've seen this kind of stuff back then and this wouldn't be our last bear market so to speak, there'd be more chances of bitcoin recovering now more than ever and as the halving nears, this only gets more possible by the day.