Good days to bitcoin will be back soon.

[Ultegra134]

I'll have to agree with Franky1 that the fall of FTX mostly shook the news but did have an impact on cryptocurrencies, which in my opinion, it was just a minor and temporary dent. Only a minimal percentage of cryptocurrency users were actually affected, and the market is likely to recover back to $20,000 levels in a couple of weeks at most.

This should be a lesson to all of us, including ourselves, firstly to not trust third-party services and especially such coins that are backed with pure air.

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[batang_bitcoin]

All the naysaying  and scepticism of bitcoin will going to end soon. As in a well regulated market only are few currencies will be traded. And for sure bitcoin will lead from front.

While I agree with the other things you've mentioned about altcoins. The skepticism will never be gone for bitcoin, there are people that are for anything risky and would like to have an exploration with their investing journey. They're the people that are open to new things like bitcoin but, there are the people that would like to stay conventional and traditional and that means, they're permanent with that belief and no matter how hard you explain to them what bitcoin is, they'll never believe.

[The Cryptovator]

A couple of bad things happened in the crypto space over the past few months. Consider the Luna crash and the FTX drama. This is incredibly harmful to the entire crypto industry. So that's why people are afraid to invest in cryptocurrency recently, which has been leading a bear season. What can we expect if so much shit happens in the crypto market? The dump is then expected. To be honest, I don't any solid reason see why Bitcoin should recover anytime soon. We need a credible reason for this. It is constantly breaking support levels that led recovery more difficult. But, yes, the market will recover either today or tomorrow.

[KingsDen]

To be honest, I don't any solid reason see why Bitcoin should recover anytime soon. We need a credible reason for this. It is constantly breaking support levels that led recovery more difficult. But, yes, the market will recover either today or tomorrow.

Honestly I don't see any reason that bitcoin will return to bull direction any moment. It requires a very strong fundamental to upturn the market from the beat direction to the bull direction and I am not seeing such a fundamental any close to us.

The Bitcoin support keeps breaking and going down the more. When bitcoin rallied around 20,000 dollars for almost 3 months,  I thought that $20000 would be the support of Bitcoin till we get to the next bull which may happen by April 2024. But I was surprised to see that the supposed $20000 support was further broken, honestly there shouldn't be any high hopes till the end of 2023 towards 2024.

[Aanuoluwatofunmi]

Recent fall of FTX shook the crypto ecosystem

The exception is on the bitcoin network only, while other cryptocurrencies may be affected, bitcoin is independent of any other currencies because it's the first decentralized digital currency introduced and has always maintained it's standard and value all time.

Also It has come as a lesson for crypto world, though an expensive one.

Though alot of people have been withdrawing their asset from centralized exchanges and about $3.7 millions have been evacuated already from exchanges into personal wallet, but i won't surprise is hearing that some are still looking for more altcurrencies projects to invest with.

There are many crypto assets that are currently in the market and are backed by nothing.

They actually got backed by something but in a deceiving manner, they will pump finance into a project and raise expecta high for people to invest large amount and later withdraw all their investment thereby taking away other people's asset in it.

[Rengga Jati]

Recent fall of FTX shook the crypto ecosystem Also It has come as a lesson for crypto world, though an expensive one.

This incident related to FTX has indeed shocked many parties, as happened with LUNA in the past. And many people have lost their money in this tragedy. Yes, indeed investing in the crypto world today must be more serious and careful. Our rigor should come down to whether they have backups or not. And from this FTX incident, I believe that exchanges and other projects will be increasingly thinking about having backups of their platforms or projects. So, this will minimize incidents like this. Although that does not mean eliminating this possibility, minimizing it.

Bitcoin itself is different, it is the basis of cryptocurrency. I'm not sure that Bitcoin will be dropped and immediately dropped and failed like the others. Because Bitcoins are different. We already know how many times they tried to bring down Bitcoin with various FUD, but finally, Bitcoin can also rise again and exceed our expectations. This is because of our strong reputation and trust in Bitcoin.

[Cryptomultiplier]

A couple of bad things happened in the crypto space over the past few months. Consider the Luna crash and the FTX drama. This is incredibly harmful to the entire crypto industry. So that's why people are afraid to invest in cryptocurrency recently, which has been leading a bear season. What can we expect if so much shit happens in the crypto market? The dump is then expected. To be honest, I don't any solid reason see why Bitcoin should recover anytime soon. We need a credible reason for this. It is constantly breaking support levels that led recovery more difficult. But, yes, the market will recover either today or tomorrow.

The market will recover today or tomorrow is just on a basis of hopeful thinking. It is good to have such hopeful thoughts despite the ongoings with FTX  recently and other failed coins. I for one do not think that these happenings can entirely debase the stands of Bitcoin as it has proven to be confidently steady, not considering bearish or bullish turn of market events.  The market will always recover and new perhaps more profitable coins and opportunities to invest and earn huge will come.
Good days are always within reach and Bitcoin I believe will catch up, and favor those faithful in its business.

[Piesel]

As for POS nothing more to say infact the recent saga around Centralized exchanges as proven that POS doesn't have a future due to its centralization, I just hope investors do not realise it late.

If comparing POW with POS then of course POW will be the better choice because it brings decentralization but the collapse of exchanges, specifically FTX in recent days, I think has nothing to do with POS. All the people who lost money in the FTX crash are aware of the risks of putting their money in FTX but they chose the risk to seek profit and they were too subjective to trust FTX completely.

Proof of work is far more secured than proof of stake algorithm since pow give us decentralization and prove of stake open us up to centralization of the network, since with proof of stake, the wallet with the highest stake volume control the network confirmation and this give power to few whales that can tempered with the transaction process since their have the higher stake volume.

But then pow also have its own shortcomings and one of them is the energy consumption by miners, but even that is taken care of by the use of another source of energy supply.

[Welsh]

According to users a year ago, it was the end of the world since everyone got priced out of Bitcoin. Now, that Bitcoin has been discounted in time for Black Friday, people are complaining about it collapsing. Don't know about you guys, but we're very much in the good days, and have been for the past decade, and a bit.

Price is temporary, value is permanent. As long as you remember that, you'll have a more positive outlook on things. What does it mean exactly? Price can be influenced by a lot of things, and it does. However, the core values of Bitcoin, and why it's successful in the first place still exist. For example, being responsible for your own wealth, removing the middle man, and tackling the centralised world we live in. That's the value side of Bitcoin, and why there will always be demand for it.

The only thing that truly threatens Bitcoin, is a global ban which is extremely unlikely. Increased regulation sure, but that actually promotes growth, and therefore is a good thing.

[romero121]

There is nothing as good and bad day with bitcoin. With every market it is possible to experience the bullish and bearish movement. With bitcoin it happens all of the sudden when nothing is expected. Users who have well understood about the market have got the ability to make good money unlike the market movements.

If you thinking bullish days were the good days then you're wrong, because if we were able to buy at the bottom then bullish days are good. So, every market is important and need to be considered good days.

[adzino]

Recent fall of FTX shook the crypto ecosystem Also It has come as a lesson for crypto world, though an expensive one.

There are many crypto assets that are currently in the market and are backed by nothing. This has shown that when it becomes too risky to invest in shit coins and why we should avoid it.


Moreover it's becoming clearer that in future a lot of shit coins are going to fall on their face and wipe out from the system.

The fall of FTX also showed the lacuna of POS as well. While ethereum moved to POS. I believe it has in one way or other affected the crypto ecosystem to lead to this fall.

Believe it or not the future is of crypto regulations. The thousands of crypto projects which have been launched without any meaningful backing are going to fall on face.
It's time of retribution for those altcoins

All the naysaying  and scepticism of bitcoin will going to end soon. As in a well regulated market only are few currencies will be traded. And for sure bitcoin will lead from front.

What do you mean by backed my nothing? Bitcoin isn't also backed by any physical asset or anything, but it still have value due to user confidence. The other "crypto assets" that you are talking about is are shitcoins that people don't trust. Hence, those coins eventually die and you are left with nothing. It has always been clear that those coins will eventually fall, yet people still invest in those coins wishing to get reach real quick. But not sure what FTX has to do with those coins or POS. Unclear what you are trying to express.

[kamvreto]

~snip~ The other "crypto assets" that you are talking about is are shitcoins that people don't trust. Hence, those coins eventually die and you are left with nothing. It has always been clear that those coins will eventually fall, yet people still invest in those coins wishing to get reach real quick.

A shitcoin that is not trusted by people but is supported by a few people who make it hype and end up being a detrimental trap. No shitcoin can last that long. people who come only for shitcoin and invest their money in shitcoin just want a quick profit, but in the end all the money is not coming back and shitcoin is a scam. Bitcoin remains at its best, decentralized, without any physical backing. and bitcoin became the cradle of all shitcoins.

[Flyingjack123]

What do mean bitcoin will lead from the front. It's already ahead and already Goated.

Every bear market leads to the death of shit coins and with the current saga combine with the bear market more will follow suit.

As for POS nothing more to say infact the recent saga around Centralized exchanges as proven that POS doesn't have a future due to its centralization, I just hope investors do not realise it late.

The good thing now will be, that market will now be a cleaner place Excess of shit coins made crypto space more like a gambling ground.
Authorities too have learnt their lessons, that meddling with bitcoin won't help them either. they will be more supportive now , this will help bitcoin in long run..

[Darker45]

I don't think the fall of FTX has anything to do with Ethereum shifting from PoW to PoS. Altcoins may shift from one consensus mechanism to another but it does not in any way affect the fate of centralized exchanges. Altcoins may fork. Altcoins come and go. But they don't dictate whether a crypto exchange will go bankrupt or not. The fall of FTX is mainly because of mismanagement. It happened because Sam Bankman-Fried and his associates were irresponsible!

[Flyingjack123]

~snip~ The other "crypto assets" that you are talking about is are shitcoins that people don't trust. Hence, those coins eventually die and you are left with nothing. It has always been clear that those coins will eventually fall, yet people still invest in those coins wishing to get reach real quick.

A shitcoin that is not trusted by people but is supported by a few people who make it hype and end up being a detrimental trap. No shitcoin can last that long. people who come only for shitcoin and invest their money in shitcoin just want a quick profit, but in the end all the money is not coming back and shitcoin is a scam. Bitcoin remains at its best, decentralized, without any physical backing. and bitcoin became the cradle of all shitcoins.

No matter what other protocol has come, POW remains the best and bitcoin has been the best decentralised and anonymous. Such was the vision and works of Satoshi that after so much of search of alternatives for decades , bitcoin still remains the best

[Flyingjack123]

The previous bear market had a significant negative impact on altcoins, but it didn't kill the market completely and didn't kill trading either. This time around, some will also lose their market capitalization and never return to former glory, but others will remain and then experience growth along with Bitcoin when it starts recovering.
I agree that regulations are the future, but regulations should be centred around protecting customers from losing money by big oversight of operations of companies like crypto exchanges, not on penalizing users, depriving them of privacy and restricting their options. Moreover, regulations should not extend the practices that are related to other businesses, so that they remain reasonable and fair.

The problem is that not really a big chunk of population is involved in crypto right now.
While crypto is the future, but most of them are not concerned.
I assume there will be a tussle between  the holders and regulators for establishing their authority. sadly I assume anonymity might get compromised due to security concerns, but decentralisation is going to stay here.

[zfhrt80]

The final outcome of FTX is entirely a matter of their supervision. The collapse of FTX made investors aware of the risks involved. However, it is possible for Bitcoin to come out of a bear market, and it is necessary to have enough patience in this circle.

[RAppleby]

Hopefully, when I wake up, the price of Bitcoin will return to this time last year. Now Bitcoin is precipitation, and it has excluded many people.

[Flyingjack123]

I'll have to agree with Franky1 that the fall of FTX mostly shook the news but did have an impact on cryptocurrencies, which in my opinion, it was just a minor and temporary dent. Only a minimal percentage of cryptocurrency users were actually affected, and the market is likely to recover back to $20,000 levels in a couple of weeks at most.

This should be a lesson to all of us, including ourselves, firstly to not trust third-party services and especially such coins that are backed with pure air.

Thanks, you made a nice point that we should not trust the third party for managing our crypto. Most of them are not really very customer friendly. But they have taken the lead and majority of new investors are trading through these 3rd parties only.
How can people really learn to handle their crypto assets, can you help me out on this.

[JordanMychal]

It is normal for the market to experience a bull market and a bear market. The current price is temporary. The important thing is whether the future value is worth waiting for. The fundamental reason why Bitcoin attracts investors is still there, and the people who are interested in Bitcoin are still there. As long as people When there is demand for Bitcoin, Bitcoin grows.