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Author Topic: Its safe to say Bitcoin has recovered all it's losses since the FTX collapse?  (Read 257 times)
Outhue (OP)
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January 24, 2023, 12:18:26 PM
 #1

It seems that people are now getting used to Bitcoin market behaviour, now people are understanding that Bitcoin cycle is 4 years. Imagine if the FTX collapse happen in 2017, I believe the impact will be more drastical compare to today, now I can boldly say that Bitcoin has now recovered all it's losses since the FTX collapsed, is this safe to say?

I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?

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January 24, 2023, 12:26:35 PM
 #2

It seems that people are now getting used to Bitcoin market behaviour, now people are understanding that Bitcoin cycle is 4 years.
Not all people understand it. There are old guys and new guys in Bitcoin market and not all of them understand it. Even you are old participant in the Bitcoin market, there is chance that you have yet understood it.

Understanding it is difficult, then applying your knowledge and understanding to have good decision is harder.

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Imagine if the FTX collapse happen in 2017, I believe the impact will be more drastical compare to today, now I can boldly say that Bitcoin has now recovered all it's losses since the FTX collapsed, is this safe to say?
Nothing is similar entirely in different years of history. Lot of different conditions in Bitcoin market, cryptocurrency market and their ecosystems as well as social conditions like politics, economics and others.

FTX is one of biggest collapses in history of cryptocurrency market but it is not a first and won't be the last.

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I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?
If you fully understood 4 year cycle of Bitcoin, you should not say it. Because what you said shows that you did not understand the cycle. It will be a first time Bitcoin can recover fully very long time before its halving.
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January 24, 2023, 12:48:34 PM
 #3

The demography of bitcoin holders has been changing for some years now and that would definitely reflect in how the market reacts to major drops or pumps, and would also affect how the "4 year cycle" sequence works.

• When you have more weak hands with little understanding of what they are holding, you get quick dumps when the price drops and lots of FOMO when it pumps.
• When you have more holders who understand how it works and has had the liberty to understudy previous cycles and recoveries, you have more people who are confident in the network and are aware that short term price action is not relevant to long term investors.

I believe this would also change how the current cycle works and create a resistance to how low the bear market can go overtime.

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January 24, 2023, 12:56:05 PM
 #4

I'll say we have recovered when we get back to the $30K support. But for now, the spiral of bankruptcies this season is causing has to go away, if we want to see investors (read: users) buy more BTC which would ultimately raise its price to that level.

Think about it, how do you expect Bitcoin to recover when a big player is declaring bankruptcy every few weeks? This isn't even a span of months we are talking anymore.

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January 24, 2023, 01:39:40 PM
 #5

I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?

Quite an overly-optimistic take in my book. People won't suddenly realize that Bitcoin is a necessity, just right after one of the biggest exchanges committed fraud. People still think that Bitcoin and cryptocurrencies are a scam/fad, and I don't see that changing any time soon.

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January 24, 2023, 01:57:44 PM
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 #6

You only look on the FTX collapse while you're not paying attention to other more important case e.g. Lukedashjr aka Bitcoin Core's developer hardware wallet got hacked and Joe Grand aka Kingpin which can hack a hardware wallet. Most users and early holders always recommend to use hardware wallet to hold large amount of Bitcoin, with the previous 2 cases before, can an Average Joe still think hardware wallet is still the most safest place? I guess they're think hardware isn't completely safe too.

Don't forget the last year there are not really have many bad news about Bitcoin, there are still have a good news but it doesn't make Bitcoin price increase.

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January 24, 2023, 02:02:23 PM
 #7

I'll say we have recovered when we get back to the $30K support. But for now, the spiral of bankruptcies this season is causing has to go away, if we want to see investors (read: users) buy more BTC which would ultimately raise its price to that level.
Bitcoin probably has a mini bull run like it had in 2019 with a good mini recovery from $3700 to about $13,000 before it was pulled back to $6,000 to $7,000.

If Bitcoin continues this recovery, I only expect it to touch $30,000 from that it will be pulled back like in 2019. From $30,000 to $20,000 is a good pull back in 2023 for Bitcoin. It will need months to be warmed up again for 2024 halving.

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Think about it, how do you expect Bitcoin to recover when a big player is declaring bankruptcy every few weeks? This isn't even a span of months we are talking anymore.
Fud is everywhere, bankruptcy from big players in 2020 and 2021 have yet completed so there will be no bull run to $60,000 in 2023. I agree with you that bad companies must be cleaned up in Bitcoin and cryptocurrency market before 2024 bull run.
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January 24, 2023, 02:05:27 PM
 #8

I believe you're right but you just can't be safe to say that because everyone has their own comprehension and understanding to talk with if it's about bitcoin's recovery and losses due to the FTX impact so, it's very subjective.

One can say that it hasn't recovered yet and has to wait and go back until $30k-$40k because that seems to be the range when the new has broken out.

But I understand you and I'm with you that bitcoin has recovered and the point is likely the bottom was already seen and in.

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January 24, 2023, 02:10:05 PM
 #9

It seems that people are now getting used to Bitcoin market behaviour, now people are understanding that Bitcoin cycle is 4 years. Imagine if the FTX collapse happen in 2017, I believe the impact will be more drastical compare to today, now I can boldly say that Bitcoin has now recovered all it's losses since the FTX collapsed, is this safe to say?

I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?

The more people begin to believe in the existence of a 4-year Bitcoin cycle, the more likely it is that this rule will not work in the future.  Yes, there is such a thing as a halving...

The significance of the halving is that it reduces bitcoin inflation. 

However, each subsequent contraction is less significant for Bitcoin than the previous one.  This is due to the fact that the miners have already mined most of the coins.  Therefore, we are not entirely sure when exactly the Bitcoin bear market will end and its bull market will begin. 

It is also very difficult to objectively assess the impact of the collapse of the FTX cryptocurrency exchange on the dynamics of the price of bitcoin.

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January 24, 2023, 02:11:12 PM
 #10

It seems that people are now getting used to Bitcoin market behaviour, now people are understanding that Bitcoin cycle is 4 years. Imagine if the FTX collapse happen in 2017, I believe the impact will be more drastical compare to today, now I can boldly say that Bitcoin has now recovered all it's losses since the FTX collapsed, is this safe to say?
The recovery is arguably pretty quick if we look at it since the FTX crash, but I would always be wary of anything that's deemed 100% secure. Even market speculation, including investors, are now starting to dare to take large-scale buying actions and choose to forget about the incident at FTX. Personally, I don't feel overly ambitious either during market recoveries or crashes what I'm still doing is dropping a few dollars every 2 weeks on Bitcoin.

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January 24, 2023, 02:19:52 PM
 #11

It seems that people are now getting used to Bitcoin market behaviour, now people are understanding that Bitcoin cycle is 4 years. Imagine if the FTX collapse happen in 2017, I believe the impact will be more drastical compare to today, now I can boldly say that Bitcoin has now recovered all it's losses since the FTX collapsed, is this safe to say?

I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?

You have to understand that bitcoin does not collapse with the FTX, it's all about having your bitcoin investment with them that got scammed along the FTX collapse, those affected were their investors that confided in them and not the bitcoin network neither doesit make any deligible difference in determining the bitcoin price, so in this context i will only admit the fact that if the affected investors have find it a means of recovery ever since the attacked to have invested on bitcoin but now on their own wallet.

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January 24, 2023, 02:24:58 PM
 #12

~snip~
I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?

I think you think too much, but these thoughts go mostly in the wrong direction and are very limited to just one event without looking at the big picture, which prevents you from seeing things in the right context. There are a lot of elements that have influenced the BTC price drop, and FTX was just the latest to cause the crash towards $15k. A much bigger crash was caused by the failure of that scammer project from South Korea, and before that we were sinking due to the increase in inflation and the fall of the stock market, as well as disruptions in the world markets caused by the pandemic and the war in Ukraine.

Add to all that the fact that ATH was always followed by a correction, and then you have a much clearer picture on the basis of which you can draw conclusions. In addition, this recovery is not yet a definitive sign that we have exited the bear market.

As for your belief that "Bitcoin is a necessity in every one's life", I think you are exaggerating beyond measure, because if less than 5% of people in the world have any contact with Bitcoin, how important is it to the rest of the people in the world - especially those 40% who don't even have access to the internet?

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January 24, 2023, 02:29:34 PM
 #13

I don't think that bitcoin have recovered from FTX crash since the price has only gone up to an extend which is still very low compare to what we are expecting. People are still contemplating if bitcoin is for real or a scam, due to several crash of institutes which people have entrusted their investment to.

Only experts can say that they have understood bitcoin four years cyclic movement and it can not be assured but just an assumption. My reason is this,in different years there are always different challenges that hits the crpto market which I think last year was the worst. Inflation is also around the corner all these joined together can still affect bitcoin cyclic movement. It can be before the predicted time or after the predicted time nobody knows.

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January 24, 2023, 02:33:56 PM
 #14

You are right op. BTC and some part of the crypto market recovered their losses since the FTX collapse incident, but it remains to be seen whether they can sustain their current prices for a long period or not.

Just a single negative event could wash away all the gains which is why constant positive news is required to help sustain this current bull market.

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January 24, 2023, 02:54:01 PM
Last edit: January 24, 2023, 04:16:23 PM by Ucy
 #15

I'll say we have recovered when we get back to the $30K support. But for now, the spiral of bankruptcies this season is causing has to go away,
How about we zoom past 30 in a short time, will that make you feel better?


if we want to see investors (read: users) buy more BTC which would ultimately raise its price to that level.
It could still reach 30 in a short time with the participation of only one or few users. This should prove that Bitcoin currently doesn't depend on users buying more to become more valuable.  The one who currently supports the price is trying to help everyone benefit from the price increase.  
Bitcoin is currently refreshing as with each massive price increase there may be a short pause for a rest.


Think about it, how do you expect Bitcoin to recover when a big player is declaring bankruptcy every few weeks? This isn't even a span of months we are talking anymore.
There is actually an ongoing sanitization of the entire Bitcoin/crypto space. I expect the intelligent ones to adapt by using better models/platforms that can stand the test of time.
Our forum will likely be open up soon for such cleanup... all for the good of the Bitcoin/crypto space.
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January 24, 2023, 03:58:30 PM
 #16

It seems that people are now getting used to Bitcoin market behaviour, now people are understanding that Bitcoin cycle is 4 years. Imagine if the FTX collapse happen in 2017, I believe the impact will be more drastical compare to today, now I can boldly say that Bitcoin has now recovered all it's losses since the FTX collapsed, is this safe to say?

I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?

I always wonder why crashes like FTX does not come in the bull market ? All of these bad events always happen in the bear market due to which we see the price dump.
How strange that FTX Crash, Luna Crash and of these events did not took place in 2021 which was a bull market year.
Anyways, bitcoin will recover but those who have lost their money in FTX, they will never be going to get their money back.

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January 24, 2023, 04:03:17 PM
 #17

It could still reach 30 in a short time with the participation of only one or few users. This should proof that Bitcoin currently doesn't depend on users buying more to become more valuable.  The one who currently supports the price is trying to help everyone benefit from the price increase.  
Bitcoin is currently refreshing as with each massive price increase there may be a short pause for a rest.

Let's guess, that special user is you? Instead of writing nonsense about how you influence the price of Bitcoin with your posts, it would be better for you to seek psychological help regarding the fanaticism you practice on the forum Angry

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January 24, 2023, 05:07:27 PM
 #18

Bitcoin has started recovering its price and is moving up again. We saw that the FTX crash had a tremendous effect on the market, but it doesn't matter anymore because until now, bitcoin is still holding on and will rise even higher.

But perhaps this situation is not safe for bitcoin because the decline could happen again, especially if many governments issue more negative news regarding the policies that regulate bitcoin. But this recovery phase has started, and we still have a chance to use it. And you are right @OP, who said that bitcoin would become a necessity in everyone's life and it is only a matter of time that will answer it.

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January 24, 2023, 05:18:58 PM
 #19

Ahh, what makes us think that this is recovery from the FTX collapse? Is there any proof that the money which was stolen has been injected back to the market? I don’t think so. That is not the relation here neither it is time to predict or connect the dots with it. I’m pretty sure that this is just start of bill run because people are getting ready for the 4 year halving cycle end. It’s new year, many investment firms might be making their best move right now and will be hoping for the future trades soon. Could be any of the reason but too early to state it has got anything to do with the FTX melodrama.
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January 24, 2023, 05:25:34 PM
 #20

FTX is one of biggest collapses in history of cryptocurrency market but it is not a first and won't be the last.
No, it's not. FTX collapsed when the price had crashed already. I think it went from $20k to $16k, or something like that, which isn't small drop, but we've seen worst.

I never expected the fast recovery that's why I said the world is finally understanding why Bitcoin is a necessity in every one's life, am I saying too much? Or you think I am right?
You're both right and wrong. "The world finally understanding utility" sounds too romantic to me now more. Yeah, it can be the case, that people slowly start feeling more confident, but most are still in just for the profit.

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