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I heard that Binance will give funds of about 2 billion to buy FTX assets, if this is true, of course it will make the market can rise again, FTX error hopefully does not happen again, they use consumer money for wasteful things like luxury villas for FTX employees.
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everythings looks perfect right now. I think this was necessary to get rid of those moon boy and scam project that was already creating liquidity gap for their mismanagement of uses funds. There are few more centralized entity that should be washed up for the greater good of BTC and decentralization. I am certain that we will get a better price action in BTC if those institutions back off.
The biggest issue at this time is a centralized project, of course this is contrary to the concept of decentralization, the best solution to get out of many problems at this time is to immediately make a strict regulation from the manufacture of projects to exchanges, because the biggest factor that makes the reputation of cryptocurrencies destroyed is a scam project is scam projects . |
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Prices such as 13,000$ are inevitable. A few more projects are about to get exposed and cause further panic which will just fill the pockets of whales which are accumulating - preparing for the bull run in 2025.
Market dump will be difficult to avoid in the near future, even I'm sure cases like FTX will occur again, according to predictions from many market experts in 2023 will also be red and maybe Q4 in 2023 will start to improve, we are waiting for whether this year's price can return to the level of $ 20 K or drop below $ 13K. |
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There was still news about Crypto lending companies going bankrupt so we might just see another blow to this market before we can finally see the bottom. Genesis hardly gets funding support. Once they file bankruptcy that will bring the price down.
The only hope that is pulling up is Binance recovery funds increasing through help from the industry.
The latest news of Binance will provide funds of around $ 1 or $ 2 billion to restore the market, I hope this will soon be realized so as to make investors optimistic with cryptocurrencies. And of course we are waiting for strict regulations to make the FTX case the last. |
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If we already understand the Cryptocuries investment that is like a roller coaster, then when the price is dropped then don't panic, if we have a plan for profit then survive and hold, even the Pope will buy more and like it when the price of drops, the opportunity to continue to rise is very large, So don't panic when you see the market dip.
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The first thing and most important when we invest is to know the risk, do not just be tempted by the promise of a big profit even though there is a success story from others, and after we invest and lose then never blame anyone, as long as we are sure for profit then do the technique, And in my opinion Bitcoin is a simple investment, buying and then holding and waiting for profitable prices.
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There had been less trust even before. Those who can take the courageous risk and be patient are the ones left in the crypto field.
But investors who are just jumping from one hype to another are the ones who should be careful on this kind of corrupted projects as how you said it.
How to stop them? You cannot. If you will have the knowledge initially about their scam attempts, then you could warn people but stopping them by yourself or just one group cannot be done. The market will be the judge if they are to become dust.
The scam project certainly cannot be stopped, all we can do is take action immediately if there are suspicious things, for example if within a few days the price continues to decline and the existence of suspicious transactions such as a very large volume of transactions then we better sell it immediately, the possibility of developers Having the biggest stock is the seller. |
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Well this is a recession right now we are witnessing and getting out of a financial hole can be a struggle but it doesn't have to be such a bad time. Many people become depressed at times like this because of the 'bear market' and loss of profits.
There was a time I was in serious debt and thought I would never get out. I got seriously depressed, I mean I got pretty bad there for a while. I started only seeing the negative in my circumstances.
After talking to a friend at some point I got introduced to meditation around that time and started practicing regularly. The debt was still there but I wasn't as stressed about it. I realized it was much easier to live simpler, spend less and enjoy the process of digging my out.
I eventually did pay off my debts, partially it was due to a lucky investment but I also think it had a lot to do with getting out of the negative mental trap I was in. If I had any advice I would say get your mental health into a great place and then focus on the debt, at least that worked well for me.
I agree that there could be some silver lining in all of this. It’s going to be a horrible financial period but using this period as a stepping stone, you could end up a lot richer in the long run after a while. The biggest problem is that we are all having hard time finding cash flow to invest, because after all our salaries are not enough to both survive, and then save some aside and make money. In these type of situations liabilities should be sold, and assets should be bought. I have sold my playstation 4, my g29 driving set, my old laptop (got a new pc) and many other things during this period and put it all on bitcoin. If you cannot find money, look at what you haven't used in a while, even my old iphone 6 was sold for 200 bucks which I was shocked, but look at what you don't need, and if you can sell them and turn that cash into assets that could make you profit later on. This time the Great Recession is the first time I have personally experienced such an obvious gap between prices and income. I sold my car and some collectibles for daily expenses. If this continues Need to sell bitcoins to survive. I don't know how to get through this cycle, and I don't know how long this cycle is. I thought I could reach a class leap after working hard in encryption for a few years, but I didn't expect to return to the proletariat. The current economic condition is very difficult and selling assets is a difficult choice, but I suggest using money from the sale of cars for business such as fisheries or vegetables, do not need large capital but at least can increase income because of breeding fish and vegetables is easy and We can do it in narrow land. |
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A year ago I thought of selling bitcoin at $ 66k, unfortunately I thought that the price would continue to rise so I continued to wait, then the price continued to decline and once wanted to sell at $ 52k and I canceled because optimistic the price would continue to rise, maybe the factor greedy and hoping that big profits make us lose the opportunity to profit even with small money.
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Unfortunately when you enter the market continue to decline and until now there has been no sign to recover, I also experienced the same thing as you, I heard Bitcoin on the TV Talkshow in 2013, at that time the resource person told a success story because of mining bitcoin for a year and could be successful because A significant price surge at the end of 2013, then I was interested in investing around $ 500 in early 2014 and the price of dropped and I lost about 70% of money and this made me very sorry and there was no plan to return to Cryptocurrencies.
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In my opinion the best strategy for Hold Top Coins such as Bitcoin, ETH, BNB and others is long -term hold, I'm sure the market will continue to grow so that with strong coins and hold for long term, we have the opportunity to get large profits. Whereas daily trading is great for new listed coins.
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Now FTX has officially submitted bankruptcy in court and I hope the FTX drama will end up soon and we go to a new era for a better, I have also sold FTT even though with a loss condition, I bought around $ 26 and sold only with $ 3, this is the risk of investment in the cryptocurrencies Can make us lose money in a quick time.
Sorry to hear that, but just accept the lose and move on, no one really saw this coming, even those who investment big on this project. Because in the beginning it was really doing good and there are no signs, or maybe there was, but we keep on ignoring it until to the last minute wherein it was too late. And the bad thing is that the FTX drama has still it's effect on us, the market wasn't able to recover after that, nowhere we are near $20k, our biggest support and we are still near the lowest low. But at least the market has weed out the bad eggs again. Right, if everyone knows FTX as it is today then everyone immediately sells FTT and Withdraw balances at FTX, even when it is still early, many influencers are sure that FTX has no problems or immediately solve problems, this is a risk in Cryptocurrencies investment, the bigger Profit opportunities, the greater the opportunity to lose money. |
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I am optimistic that the market will soon rise, if we have a plan to save money in a bank or invest in shares, I suggest to divert to Bitcoin, bank interest is not more than 10% per year, and profit from very small shares can even lose money, but with History and Facts, Bitcoin can be easy to profit 100% in a year.
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If we already know the old bitcoin, it will not panic to face the situation like now, sometimes the pressure is needed to find out that Bitcoin is strong and can survive, even though the price continues to drop but I'm sure that the price has skyrocketed again, I am not worried even though the price will continue to decline , I will buy more to be stored in the long run.
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I agree if Cryptocurrencies are included in the school curriculum, like it or not cryptocurrencies is a fantastic phenomenon since the last 10 years, moreover more and more recognition from millionaires and countries that officially receive bitcoin, although initially there is a rejection but slowly more countries that provide leeway and even accept bitcoin and receive bitcoin .
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Although Bitcoin is dropping but we must be optimistic that the market immediately risper again, it is not difficult to rise tens of percent per day so that in a short time it can rise more than 100%, the good news today is more and more large companies and countries that make Bitcoin as an asset so as to make Bitcoin will be more rare and expensive in the future
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This friend of mine now complain so much because of the new child adding to his family. If we reduce the child bearing to the amount we can take care , it will reduce the heat we are feeling from the bad economy experience.
actually it doesn't matter if you add any number of children if it's already your responsibility to build a family. your friend should not have to complain about it all. because if someone has the intention to build a household, they will know everything that must be done, such as raising children, etc. and your friend should think how to continue to be able to earn money to raise his family to survive, it would be better than complaining about the new child People who think that our lives are governing the presence of children is a gift and grace, we must believe that the presence of children will increase other income, a big mistake if we think to limit the child, precisely when we many children then we will get income that has never been We think. |
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The FTX case surprised us and never thought that the top exchanges that had millions of users and daily transaction volumes were more than 1 billion USD per day could go bankrupt, if previously there was an exchange that went bankrupt or scam in my opinion was common, but the FTX case that made a big shock And make us always be vigilant.
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Cryptocurrencies has become a very promising thing to get a lot of money in a short time, such as the 30 -year -old FTX owner but already has billions of dollars, and many scam cases from cryptocurrencies that never enter the law so that we have to always have to be vigilant, because the case Like FTX can be repeated at any time, it's better to save assets in private wallets.
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All of the suggestions above are good, it looks very easy to theory but it will be difficult for us to apply in reality, I think the most important thing to rich is to increase the source of income, no matter how much we spend or wasteful, but if our income is large then we will be rich , because what makes us rich is income not expenses.
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