Bitcoin tanks on Binance-FTX deal doubts

Jan

Jan

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Bitcoin tanks on Binance-FTX deal doubts

Cryptocurrencies extended declines as Binance’s potential takeover of embattled rival exchange FTX highlighted how strains in the digital-asset industry are now buffeting some of its top players.

Bitcoin, the largest token by market value, fell as much as 5.4% on Wednesday after a near-10% decline a day earlier and was trading at about $17,700 as of 9:50 a.m. in London.
 
Temujin

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iu
 
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MrGray

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As far as I can tell in this complicated saga, none of this actually has anything to do with BTC at all, but it's causing a contagion effect.

This could make it a good buying opportunity for BTC as there is nothing here that fundamentally affects it and the market will probably calm down after the fall out. But then again, betting on a bottom is risky when the sword is still falling, so be warned.
 
Fulcrum29

Fulcrum29

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The Binance-FTX is one thing, but the panic is, as always, orchestrated. How it is seen in the news and how it is seen in trades and liquidity are not quite the same. There will be a bottom scoop, whales are loving this.
 
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Tempted to buy, haven't seen it so low. But I read somewhere if it ever falls to 15000$ it's risks of collapsing totally.
 
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MrGray

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Quicks said:
Tempted to buy, haven't seen it so low. But I read somewhere if it ever falls to 15000$ it's risks of collapsing totally.
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Also tempted but I think I'll sit it out for a few days still - these things seem to take a while for their full implication to unfold.
 
Fulcrum29

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I don't mind that BTC's back could be broken. People need to watch the signals; it has always been very high risk. I only wish that there will be reinvestment into crypto with true utility, and I want the phoenix to be Kadena.

Those with crypto locked up in staking, ouch! ETH 2.0 must hurt. Liquidity staking is a higher risk, but at least you can pull out.
 
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TStringList

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This kind of manipulation is one of the main reasons why cryptocurrency will find it difficult to become mainstream and adopted. The exchanges are colluding. "Hacks" are nothing but someone cashing out. What the media portrays and what goes on behind the scenes are vastly different. The man on the street is so ignorant about the level of greed and corruption in this space.
 
backstreetboy

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TStringList said:
This kind of manipulation is one of the main reasons why cryptocurrency will find it difficult to become mainstream and adopted. The exchanges are colluding. "Hacks" are nothing but someone cashing out. What the media portrays and what goes on behind the scenes are vastly different. The man on the street is so ignorant about the level of greed and corruption in this space.
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Lol it's been happening since 2012 yet Bitcoin is still here...
 
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Syphonx

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Quicks said:
Tempted to buy, haven't seen it so low. But I read somewhere if it ever falls to 15000$ it's risks of collapsing totally.
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That makes no sense at all. You expect it to go under $1 if the price dips below $15,000?
 
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