Quote from: JoyMarsha on Today at 06:16:24 PM

Since the invention of Bitcoin, the cryptocurrency market has gone through innumerable bear runs, which have always been attributed to the global economy rather than anyone in particular. I wouldn't argue that the episode involving FXT and Luna is what started the bear run; rather, I'd say that it played a small role and occurred at an unfavorable time when the market was already a little uneasy. The bear season would still be in effect right now if the incident never took place.

The Luna and FXT event taught many investors a valuable lesson about not placing their reliance on cryptocurrencies. Before the market earns investors' faith, time must pass(bear season will take longer before is over)

Well chart i showed tells a different story. On the exact day UST depegged and crashed, the WHOLE crypto marketcap lost 117 billion in a week. And even more in the coming weeks. FTX was nothing compared to that. And speaking of power of one man, when elon denounced BTC and apparently telsa started selling crypto, whole crypto marketcap lost 182 billion in 9 days. Not even war in europe has affected crypto this fast. So i wouldn't say they had a small role.