Its safe to say Bitcoin has recovered all it's losses since the FTX collapse?

[Blawpaw]

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 FTX bloat will affect the industry for years to come. The same way MT Gox affected the Bitcoin industry for years, FTX will become a shadow that will follow cryptocurrency for years.

[albon]

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 price of cryptocurrencies, especially the price of bitcoin, fell to $16000, as it decreased by 20% of the value of cryptocurrencies, and this is due to the collapse of FTX and its associated companies, and the price of bitcoin this year reached $23000, and it is to some extent a gradual recovery, and I see that if bitcoin managed to penetrate the level of $25000, then Moving to $32000, it is at this stage that you can see a complete recovery for Bitcoin, and this recovery is due to the adoption of Bitcoin as a method of payment for many companies and the rise in the prevailing popular use of Bitcoin and goes back to the period when American inflation began to decline in its monthly rate of increase, OP also you are right, because Bitcoin is a necessity in the life of every person and every investor, and it is good that Bitcoin has recovered some of its losses, as its price is now a good indicator this year.

[Oilacris]

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?

Safe or not, it doesnt matter because what matter most on here or people would be seeing is that we are above 20k price once again and thats the good thing.As of this writing then we are seeing the

price is hovering around 23k which basing up on technicals then we do need to break that 25k resistance for us to go on 28k or even on 30k.Lets not rush things up because everything would come in
the  right time.This is the most challenging part is that we couldnt be able to determine on where the price would be heading because the market had been always
unpredictable since from the beginning.

[Leviathan.007]

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?

This cannot be a recovery but if that's a recovery it smells fishy, isn't it?
During the previous months and weeks, we never heard any good, effective, or positive news from the bitcoin and cryptocurrency markets so we cannot call this a recovery yet unless the market is just saving more potential to reach lower price levels. However, it's still too soon to predict the bitcoin situation or tell if it's recovering or not.

[ChiBitCTy]

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 think it's important to note that bitcoin doesn't really have a "cycle" every four years, its just that bitcoin simply "halves" every four years, which is different and would be a bit confusing to those not real versed on bitcoin if you don't explain what you mean by that exactly.

Bitcoin didn't have anything to recover from, only people.  I'm also pretty certain that most people who lost money in the FTX ordeal have not recovered.  Totally different things you're mixing up here.

[Mr.right85]

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?

Saying that or even as your topic suggests leaves me with the impression that, the FTX situation had a major role in further dipping of the bitcoin price.

I think not. The FTX situation is just another happening in the cryptosphere and remains indiscriminate to the bitcoin price movement.  Rather, it served other purpose as teaching moments on how to use centralised exchanges for those who care to learn.

We are in a new year and people are looking out for opportunities opportunities where to begin building a fortune so, its no surprise that the market is slowly having having correction on its depleted price.

[Sanitough]

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.

I guess even without the FTX event, people are still in doubt about bitcoin and prefer to think that it’s more of a scam than legit. So how much more when the FTX scandal suddenly arise, a lot of people have nailed it that it’s right that they never trust bitcoin at all. So I’m also not saying bitcoin has recovered eventually, it’s price alone is still in a dump position.

[serveria.com]

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.

This is so 2017... just to remind you retail investors' behavior can't affect anything in modern Bitcoin. Not even a single corporation or a billionaire (kh kh Elon kh kh..) can do it anymore! 

[Fatunad]

When bitcoin will be worth 30K you can say that bitcoin is fully recovered after the crash.

If we do tend to look back on whats the price before that FTX incident then we are talking about 21k.

Bitcoin has held firm at over $21,000 for the last two days, well above its Nov. 2 price of $20,283.
Source: https://www.cnbc.com/2023/01/17/bitcoin-has-now-recovered-all-its-losses-since-ftx-collapsed.html

Well, i do agree that we could say completely about recovery when we do hit 30k. 

[Scripture]

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?

Not a necessity yet but a big help to many already, Bitcoin has been recovered and it slowly rising again from all the negativity last year.
This is the start in preparation for the big update next year, its good to see Bitcoin on this level again and most probably it will continue for the rest of the year.
I'm always bullish with Bitcoin, if we can break more resistance then we might end this Month on a better price, probably around $24k. Lucky to those who are able to bought last year, but its not too late yet and we can still buy Bitcoin on a cheaper price before it fully rise again.

[Z-tight]

The FTX bloat will affect the industry for years to come. The same way MT Gox affected the Bitcoin industry for years, FTX will become a shadow that will follow cryptocurrency for years.

I don't see it that way, there have been a lot of negative events surrounding centralized exchanges, services and altcoins, it is not only about ftx, months after ftx collapsed and the domino effect has caught up with Genesis, a subsidiary of dcg as they have also filed for bankruptcy to begin this year. I think all of these negative recent events put together may discourage many people from crypto.

These events may affect BTC's price temporarily, but at least not the BTC network. Crypto people should understand the purpose of centralized exchanges and how to use them because the domino effect will spread to other exchanges soon, and they may collapse as well, self custody of funds is the only safe way to store your BTC.

[crwth]

I think it is safe to say, as long as you are talking about the price of bitcoin, that those affected by the FTX collapse have probably not yet been compensated for their losses. So for me, that’s not a complete recovery yet. So for me, that’s not a full recovery yet.

We’re still not out of the woods yet, in my opinion, because it’s just been a couple of weeks, and we can reach another high or another low, so better be prepared.

[takuma sato]

Im not sure since there is too many moonboys still calling for "this is the last chance 100k now" moves everytime it goes up. I feel like we haven't capitulated properly yet to call a bottom. It's not clear if the FTX related losses are gone due all the leveraged money in there. FTX has too many tentacles to know for a fact.

[Outhue]

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.

I read about how the bitcoin core developer lost his assets to a hack but do you believe that the loss of funds is not his fault? I do not believe this because mistakes don't care if you are a core developer or even a president of a country, you can still make mistakes, I still believe that his incident is one out of a million because I have not heard about someone losing fund using a hardware wallet, he his the first,  which make me believe that he messed up somehow.

[Minor Miner]

... 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?

Honestly, I think you saying too much, bitcoin is an investment that can bring good returns, but that doesn't mean everyone needs it. I need bitcoin because it has given me a stable economy and a desirable income, I also admit that without bitcoin, my economy would still be difficult.
But in my area, there are still many people who don't know anything about Bitcoin, but their economy is so much better than mine, and there are many people I would never keep up with even if I had more Bitcoins. Those people don't have Bitcoin and they don't need Bitcoin. Bitcoin is needed only by the people who really need it, not the whole world.

[kryptqnick]

I don't think that halving is key to understanding Bitcoin's volatility, and that there are 4-year cycles regardless of what's going on in the world and with crypto industry specifically. I agree that the FTX crash in 2017 could've caused more damage, but not because of the lack of understanding of cycles. The additional damage could be due to generally not believing in Bitcoin and not believing that it will ever recover. This time around, with so many people who've seen Bitcoin fully recover from the previous crash and establish a new ATH, I think we simply have fewer people who doubt that this will happen again. That being said, let's not forget that Bitcoin lost 3/4 of its value (not all due to FTX, but still), which is a lot and not significantly smaller than in 2018.

[Franctoshi]

Imagine if the FTX collapse happen in 2017, I believe the impact will be more drastical compare to today,

I don't think so because the damage or impact would have been less in 2017 as compared to the damage done in 2022 collapse
because they haven't gained much of ground, popularity and the number of customers they had before the collapse.

Bitcoin has now recovered all it's losses since the FTX collapsed, is this safe to say?  

For sure, if you are someone that bought when the price of Bitcoin was consolidating within $20k before the FTX collapse and did not sell you've definitely recovered.

[GideonGono]

For me it is safe to say that it is finally recovering and showing a good fight.
Let's just hope that this would continue and not just for a short time.
I don't really think that the price drop was only from the FTX it just played a huge part of the drop.

[Fivestar4everMVP]

If the FTX collapse had happened in 2017, I don't think the impact would have been this catastrophic on the market as it was in the time the incident happened, this is because in 2017, bitcoin was still cheaper, FTX(if around at that time) was still pretty a new exchange and hasn't gained trust and the kind of userbase they had in 2022, they haven't invested and partnered with all the companies that when down with them in 2022 when they collapsed..
So there was no way their their collapse was ever going to hurt the market so much if it had happened in 2017, and yes, i agree with you that the market has probably recovered from all the losses it suffered during the collapse of the second largest crypto exchange.

[Crypto Library]

The FTX bloat will affect the industry for years to come. The same way MT Gox affected the Bitcoin industry for years, FTX will become a shadow that will follow cryptocurrency for years.

I don't think the FTX incident will be the disaster that mt gox brought to bitcoin in 2014. Because the current state of Bitcoin is much stronger than that time and this cryptocurrency platform has advanced a lot. So I don't think the FTX exchange collapse will have an impact for a year like mt.gox, and the market is already back to where it was before the Ftx incident.

For me it is safe to say that it is finally recovering and showing a good fight.
Let's just hope that this would continue and not just for a short time.
I don't really think that the price drop was only from the FTX it just played a huge part of the drop.

I also want to agree with you on this point that the price drop of Bitcoin was not only due to the collapse of FTX exchanger. Because the market was bearish before the incident of FTX exchanger, but the fact must be accepted that due to the collapse of FTX exchanger, our bearish season has increased for several months. But hopefully, since the market is showing green signal, it will be a plus point for the market before next halving starts.