The crypto market is melting down,and bitcoin price show's it.Crypto prices is highly volatile in November falling collapse of FTX one of the largest and fastest growing crypto exchange. The exchange failed bankruptcy on Nov 11.and those shockwaves still being felt today as the FTX fall out continues. Most recently, Major crypto Lender and exchange BlockfI failled for bankruptcy last 2-3weeks.
Bitcoins price has recovered from this meltdown some what but price reaming too low growing. The coin reclaimed $17.7k+ this week and remains at the price point as of view.what do you think,bitcoin price is still correction? I personally thinking about that bitcoin price will be recover again.
It is important to prepare our minds that there might be unexpected occurrences in the bitcoin space because of the financial recklessness of most of these centralized platforms. But I am sure Bitcoin has overcome the FTX shock. The next challenge might be the negative effect of this fall such as strict regulation or restrictions by the government. I am sure Bitcoin would be able to survive more challenges until would become well-aware of bitcoin which would give rise to P2P transactions instead of relying on these unreliable exchanges.