Will Crypto survive?

[borovichok]

The cycle is still the same after ATH, there will definitely be a bearish trend. I can't remember what caused the bitcoin price to drop in 2018 after late 2017 hitting ATH, but this year FTX and Luna may be the reason for the drop. But I wouldn't worry too much about how new cycles will form again, and this will happen. Bitcoin is still the most potential asset in the long term, so I think it's about time they take advantage of the current price drop for a long term investment.

Many bad events have taken the order of the day in crypto, the massive dump of Luna and FTX, are both among the serious dip we have experience this year. This year is one of the worst season in the space, the market affected everyone, but the ones that suffered the most are the investors who were full of Hope about their investment, like some investors have top investment capital in Luna hoping to see it pump one day, only to wake up one morning and see everything one have saved have liquidated away, without the blink of an eye, I saw my $400 dip $50. It's really frustrating to noticed that, losing heavily in crypto is one of the factor I hope, I don't experience again.

[1714779078]

1714779078

[KennyR]

The cryptocurrency network runs upon the trust from the common people who have been using cryptocurrencies for some need. It can be for trading, investment, long term profiting etc. It have survived more than a decade, during which it have encountered many serious issues. At some point it is said that bitcoin is not the original one. It came crossing all such hurdles. So, there is nothing to worry about its survival making connections with the ongoing events that have disturbed the market.

[BitDane]

Definitely crypto Industry will survive.  Cryptocurrency Industry is bigger than this recent scandals, scams and fiasco.  The negative effect of the current FTX incident will slowly fade away as people move on after the scandal.  Eventually, the market sentiment will be normal once people moved on and carry on with their regular activities. 

Many bad events have taken the order of the day in crypto, the massive dump of Luna and FTX, are both among the serious dip we have experience this year. This year is one of the worst season in the space, the market affected everyone, but the ones that suffered the most are the investors who were full of Hope about their investment, like some investors have top investment capital in Luna hoping to see it pump one day, only to wake up one morning and see everything one have saved have liquidated away, without the blink of an eye, I saw my $400 dip $50. It's really frustrating to noticed that, losing heavily in crypto is one of the factor I hope, I don't experience again.

It is indeed frustrating but it will be gone as time pass by.  The moment the market become bullish, people will forget about the incident of LUNA and FTX.

[hatshepsut93]

Did too many people get burned too bad this time?

I don't think the number of people who got burned matters that much. It's rather the perception of crypto. After Mt. Gox came a new wave of hope, new hype, new narratives. What will come after this crypto winter? More and more people see that crypto is not useful. That almost all crypto activity is trading one crypto asset for another in some sort of casino. Crypto is not making people's daily lives better. It's not used in real world finance or other practical applications.

[coupable]

The bankruptcy of a platform does not mean the bankruptcy of the entire sector. For those with experience, they know that these shocks are normal and their frequency or timing cannot be predicted. But in general, what is happening in terms of collapse proves that the wave of adoption is on the rise, and these mistakes are necessary to establish a solid market capable of facing the rest of the types of assets.
Exactly a year ago, Bitcoin was at an incomparable price at its current price or even a few months ago. We are in an emerging market waiting for new crises.

[Desmong]

It is very certain that what we are seeing how will clear very soon and the market will come to normal again.
This is a time when we need to buy more coin so that we can accumulate for the future. The future is yeet to come with great opportunity and profits that will come out way if we can see the beneath.

[Mr.Ease]

Did too many people get burned too bad this time?

I don't think the number of people who got burned matters that much. It's rather the perception of crypto. After Mt. Gox came a new wave of hope, new hype, new narratives. What will come after this crypto winter? More and more people see that crypto is not useful. That almost all crypto activity is trading one crypto asset for another in some sort of casino. Crypto is not making people's daily lives better. It's not used in real world finance or other practical applications.

Yes, thank you for expanding. It's the perception of crypto I am most concerned about, and unfortunately, it's hard not to agree with the rest.

Idk, this winter is a tough one. It was already on edge after luna, and now the FTX bs.
I never used FTX, so don't care that much, but I'm just sick to death of watching this stuff happen over and over again.
Watching all the people we convinced to get into crypto get wrecked.
I fear, many people will hate BTC once FTX settles - That it will become taboo to talk about again.

On the other hand,
I appreciate all the replies of encouragement and telling me I should know better - I should
Sometimes, a person just needs/wants a reminder

The loss of 20k BTC Kinda hit me hard psychologically the other day. I had really believed that it would hold, even with ftx fallout. Then the whole stock-flow thing failing, watching my bags grow substantially while the value drops precipitously... Typical stuff, we have been here before.

Like I said, at least another year of winter to go. Prepare accordingly.
Store those coins, get those discounts, set flash crash orders, stake those bags, avoid margin, lend USDT... and sooner or later times will be better.

Thanks guys!

[EpicsaurusREX]

Well we had it coming since the recession affects the coin market as well.

[LegendaryK]

Anyone out there have words of warnings regarding the future of crypto?
Anything the future holds to look forward to?

Worldwide PoW bans, bitcoin miners bankruptcies.
Only non-PoW coins allow for trade at exchanges.
The massive reduction of fiat venture capital.
Enormous rises in the price of energy and food.
The easy life is behind you ,  welcome to the hard times like your grand parents faced.  

[EvryIntl]

What was the reason for which you bought BTC?

If the fundamental reason hasn't changed, stay the course.

If the fundamental reason has changed, sell.

When Tether goes down - and it will - more chaos will ensue.  However, if the reason you got into BTC hasn't changed, then stay with it.  That will likely be the bottom.

More than 10 years in.  Nothing's changed except the chasm will have to be crossed.  This is where the wheat will be separated from the chaff.

[yhiaali3]

I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself... This crypto winter has at least another year to run its course and we are still watching the FTX fallout unravel.
It's some tough times, indeed... All the bags of worthless tokens that were once projects of potential.

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

Yes, it is the end for many bad projects, but it is not the end of Bitcoin, on the contrary, I think that this may be the good start on which Bitcoin is based after getting rid of all the bad projects that caused a lot of distrust of the crypto market, all these fake projects that were established for the purpose of profit only Little by little it will collapse and only bitcoin will remain the safe haven, let the crypto market clean itself of all these fake projects and only bitcoin and good projects that are worth staying will remain.
We can liken what is happening now to a virus that enters the human body and will cause it a lot of damage and pain, but in the end when the body is able to overcome the virus, its immunity will increase and become stronger than before, this is the same thing that is happening in Crypto now.

[Gallar]

Recent events are valuable lessons for the crypto world, with these incidents everyone is more alert and careful.
according to my personal view, crypto / bitcoin will continue to survive for a long time.
although it cannot be denied that there are many opinions that vilify crypto, but crypto will not collapse that easily, with the support of the community and investors, surely crypto will continue to grow.

[landheer]

Recent events are valuable lessons for the crypto world, with these incidents everyone is more alert and careful.
according to my personal view, crypto / bitcoin will continue to survive for a long time.
although it cannot be denied that there are many opinions that vilify crypto, but crypto will not collapse that easily, with the support of the community and investors, surely crypto will continue to grow.

but now many people are traumatized by investing in altcoins because there are so many victims as a result of investing in altcoins. But now many are selling altcoins and being transferred to bitcoin. because only investing in bitcoin is suitable to guarantee security. but of course the future of crypto will be safe but I think most people will definitely focus on bitcoin.

[awik p]

Recent events are valuable lessons for the crypto world, with these incidents everyone is more alert and careful.
according to my personal view, crypto / bitcoin will continue to survive for a long time.
although it cannot be denied that there are many opinions that vilify crypto, but crypto will not collapse that easily, with the support of the community and investors, surely crypto will continue to grow.

right, bitcoin is not going to collapse that easily, considering the many holders with different views. The warnings that occur are around altcoins that fall suddenly, where maybe a whale can drop it alone, it's different with bitcoin where whales need to unite the minds of many people to make it fall and have to make large amounts of fud. moreover, there are still many people who think, the more bitcoin prices fall, then it is an opportunity

[pooya87]

The loss of 20k BTC Kinda hit me hard psychologically the other day.

That's normal. Anybody who has any amount of bitcoin fees like that when they see a big drop, more so when price goes below a certain strong resistance such as $20k, even more so when the drop is illogical (like a panic sale).
But if you think the psychological pressure is too much it may be because you have invested more than you can afford to lose and you may want to make some changes in an appropriate time.

[aysg76]

That's normal. Anybody who has any amount of bitcoin fees like that when they see a big drop, more so when price goes below a certain strong resistance such as $20k, even more so when the drop is illogical (like a panic sale).
But if you think the psychological pressure is too much it may be because you have invested more than you can afford to lose and you may want to make some changes in an appropriate time.

Right and the point is that we all are under pressure when we see our investment going down with all the negativity surrounding the market with all the red candles but you need to control your emotional play at that time if you have invested in bitcoin for long term.Then you feel relieved be as you are not into selling at that time but on the contrary if you find it as investment opportunities to get them at discounted rates you will be doing the same.

The main profit/loss will occur only at the time of selling of your coins because if your investment has gone down or up with the current market prices it's unrealised gain or loss but if you can manage to hold it for long term and prices boost up your automatically comes into profitable situation.But as you said the main problem with people is they sell under pressure and panic in the market giving them loss.The main reasons for it are :

1) They expected bitcoin to be short way of becoming rich fast but when this does not happen or they see little correction in prices they start panicking and sell off at loss also to get out of market with FUD and loss in their hands.

2) Investment of more they can afford to loose which builds up more psychological pressure and you think it's better to take out the remaining balance before it goes to zero

3) Investment based on someone's else influence without even researching about bitcoin and they make fool out of people so they need to make their own decisions.

But as said if you are long term holder then check out the returns for bitcoin for over 4-5 years you will find profits only.

[kryptqnick]

It seems to me that the situation is better now than it used to be. When Bitcoin wasn't as popular and the community was much smaller, I'd say there was a bigger risk that attention to it would die out after something like the Mt. Gox crash. Now we have much more people of all sorts: hodlers, early adopters, traders, institutional investors, some crypto-friendly countries, many companies that adopted Bitcoin one way or another, etc. Some can get worried, some can engage in the good old panic selling. But each time Bitcoin recovers from a big crash, it proves that it's capable of getting our from bad situation, and I think more people remain believers that it will recover next time.

[Ryker1]

^[snip]
I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself... This crypto winter has at least another year to run its course and we are still watching the FTX fallout unravel.
It's some tough times, indeed... All the bags of worthless tokens that were once projects of potential.

Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?

This proved that only bitcoin exists and other decentralized platforms.
Stop hugging centralized projects and exchanges because they are not trusted --this time proves that only bitcoin has been given a true meaning of decentralized nature in which people have financial freedom towards the government. There are no intermediaries that should be involved in bitcoin and those altcoins which don't have clear utility will have vanished.

[Adbitco]

Observation there is these two words people don't comprehend "Crypto" and "Bitcoin".
To me I understand crypto to be a general name for all altcoin, meaning whatever that affects cryptos doesn't have any correlation with Bitcoin because it has came to exist before any other altcoin there today. It's the fear of what happened, lack of trust and as always said which I may like to borrow from people around "Not your key, Not your coin". Those who have their investment on Bitcoin in their self custodian wallet have nothing to regrets of a lost of funds or being scammed by shitcoin investment. As far as I have been here, if not for 2017 to 2018 bear market I invested in altcoin I have never complained of any hack due to I was clever enough to detect how altcoin works, to secure your investment pull out your funds from any exchange and hold bitcoin for years then check out if there would be a regret.

[freedomgo]

This Is a total shake out going on right now and the sanitization of the crypto market, Basically where those bad/Scam project out there will go out of business and won't survive the heat. Therefore I so much believe that Bitcoin and some cryptos will definitely survive all this, So to me is just a test of time for cryptos and I do believe there's gonna be a light at the end of the tunnel for the entire crypto market, when regulation is in place.

The cycle is still the same after ATH, there will definitely be a bearish trend. I can't remember what caused the bitcoin price to drop in 2018 after late 2017 hitting ATH, but this year FTX and Luna may be the reason for the drop. But I wouldn't worry too much about how new cycles will form again, and this will happen. Bitcoin is still the most potential asset in the long term, so I think it's about time they take advantage of the current price drop for a long term investment.

Nobody knows the real reason behind the market crash after hitting its last ATH last year but there's a lot of possible reasons why it dropped so drastically, part of it is because of the war between Ukraine and Russia, there's the collapse of FTX which played a huge part on what happened to the bitcoin lately and this year alone, the interest rate has spiked which caused troubles to the investors. But anyway, that's just a challenge that we need to overcome and whether we like or not, we will experience these things again in the future because bear season will always come back.