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RE: FTX files for bankruptcy

in #bitcoin2 years ago

I agree with this almost in entirety, except I think you missed most of the short opportunities already. Most of the selling has already taken place in my opinion. The FTT token may be an exception that could still go to zero though, so there is that. Apart from that I agree, the fallout will be crypto being stored on self hosted wallets, use DEXs to exchange, and centralized exchanges will be required by regulators to have a lot more transparency going forward.

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indeed, most of the selling has already taken place, however i believe it may not be over just yet, somehow i believe that FTX was just the first domino, however i must admit that this is just based on recent events reaction such as Luna Crash, Voyager, Celsius... so i believe this will lead to other projects to fall and out of all the reasons, Fear may be the critical one, but for now i'll just watch and wait for opportunities.

There may certainly be collatoral damage, but I don't think it will be large enough to have a material impact on the crypto markets looking out several months from now. For that reason I think bitcoin is likely getting close to a bottom already. I wouldn't touch most altcoins, but buying bitcoin on this latest plunge and looking out several years from now seems like a decent bet to make.

I agree, on the long run, buying Bitcoin amidst this drop it is going to pay off.

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