Post
Topic
Board Bitcoin Discussion
Re: Its safe to say Bitcoin has recovered all it's losses since the FTX collapse?
by
Z-tight
on 24/01/2023, 22:59:40 UTC
The FTX bloat will affect the industry for years to come. The same way MT Gox affected the Bitcoin industry for years, FTX will become a shadow that will follow cryptocurrency for years.
I don't see it that way, there have been a lot of negative events surrounding centralized exchanges, services and altcoins, it is not only about ftx, months after ftx collapsed and the domino effect has caught up with Genesis, a subsidiary of dcg as they have also filed for bankruptcy to begin this year. I think all of these negative recent events put together may discourage many people from crypto.

These events may affect BTC's price temporarily, but at least not the BTC network. Crypto people should understand the purpose of centralized exchanges and how to use them because the domino effect will spread to other exchanges soon, and they may collapse as well, self custody of funds is the only safe way to store your BTC.