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RE: Is the Bitcoin Price Recovering from the Bitfinex Hack?

in #bitcoin8 years ago

I think the majority of people are more aware of the separately between the Bitcoin protocol and individual entities. Back then, MtGox pretty much dominated the liquidity of BTC whereas now, while the loss was still severe, the percentage that went through Bitfinex was negligible. The reality was that while the news was enough to trigger mass sell off because of negative sentiment, there was hardly any real impact on the functionality of the market on the grand scheme of things.

In a twisted way, I thought that might have been a good thing. It reminded people on necessity of decentralised exchanges and have show the community and the world that the BTC market is A LOT more robust compared to 3 years ago.

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