The impact of FTX collapse on its ecosystem and related companies is not new. Genesis was predicted to be one of victims of FTX fiasco. What happened with Genesis is not surprising at all. I believe the impact of FTX and FTT collapses were already reflected on cryptocurrency market in generally.
News like this will not have big impact like months ago because people are already prepared about that. Who lost money already lost. Who caught the falling knife already did it and had their loses too.
Bitcoin after 2 weeks of a mini bull run has come to a time for correction. Such news related to FTX, Genesis or any kind of fud released in this time are only helpful reasons to make Bitcoin corrections more legit.
Topic: Genesis Bankrupt, Impact on BTC? - page 5. (Read 562 times)
What would be the impact on bitcoin's price? Should we be worried and sell a part of our portfolio to buy back a bit lower after the news ? Or better hodl?
Eager to know what most of the ppl think.
Personally I didnt use genesis ever myself
It would not be wrong to consider 2022 as a bloody chapter in cryptocurrency. But at the beginning of the new year 2023, there was a massive correction in the Bitcoin market. The Bitcoin market went from $16,000 to about $21,800. But the Genesis Bankruptcy is undoubtedly going to be the first cryptocurrency-related disaster of 2023.Eager to know what most of the ppl think.
Personally I didnt use genesis ever myself
After last year's FTX scandal, there is generally a fearful situation between holders and investors. Generally investors and holders have lost faith in centralized exchanges. Now if an unexpected event like Genesis Bankruptcy happens then the crypto currency market will have a huge impact.
Genesis Broker has already filed all bankruptcy filings. Various news portals have already carried this news on their headlines.
coindesk
Bloomberg
MarketWatch
According to a report made by cointelegraph a few hrs ago, Genesis (a cryptocurrency lending firm) is about to file for bankruptcy as early as the upcoming week.
What would be the impact on bitcoin's price? Should we be worried and sell a part of our portfolio to buy back a bit lower after the news ? Or better hodl?
Eager to know what most of the ppl think.
Personally I didnt use genesis ever myself
What would be the impact on bitcoin's price? Should we be worried and sell a part of our portfolio to buy back a bit lower after the news ? Or better hodl?
Eager to know what most of the ppl think.
Personally I didnt use genesis ever myself
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