Quote from: countryfree on June 05, 2023, 06:47:44 PM

6 months ago, my savings went down because of the FTX debacle. I've never used FTX, I've never been a customer of this company, but my savings are in BTC, and because of that failure, BTC's value went down, and so went my savings.

Today, bis repetita. I've never used Binance. I've never been a customer of this company, but because the SEC sues Binance, BTC is down, and so are my savings, so I have a message to all bitcoiners out there.

Exchanges and BTC are 2 different things. One exchange going down doesn't mean BTC must follow.
Binance will disappear? I don't give a damn.

There are many people who believe in Bitcoin and exchange it using centralized exchanges to keep their assets safe as they think it is best. If a person thinks like this then it is not at all beneficial to protect his wealth. But I think a bitcoiner will never do such a stupid thing to keep his exchange assets safe, rather he will have different security wallets.
Bitcoin price is not always at the same level it is always based on ups and downs. The price of Bitcoin is not controlled by anyone but follows the various directions of the market. But we saw a lot of people lose their wealth when FTX went bankrupt. At that time the Bitcoin market also became quite a bear market and most people suffered a lot from it. But the fact that the Binance CEO has been sued may have caused the price of Bitcoin to drop again. Because then many people heard about this incident and sold bitcoins due to which the market went down a lot. But the market never stays the same it goes back to its previous position again and again because bitcoin market is never permanent it is always temporary. But one should never lose faith in investing in Bitcoin but be patient. So I would suggest you if you have invested in Bitcoin then definitely try to hold it. And invest from bear market and later you wait till bull market then there will be high profit potential.