Topic: Its safe to say Bitcoin has recovered all it's losses since the FTX collapse? (Read 261 times)

I can’t tell that it has recovered well enough. But let’s just say that people have learned their lesson out from FTX collapse and that is to trust only bitcoin and just grab the chance to accumulate bitcoin while the price is still cheap and affordable. Instead of expecting a price surge these days, people have just settled thinking that bitcoin will just increase in the perfect time, and thus current position of bitcoin will always give opportunities to those who want to accumulate more bitcoin.

It did, and that's not a shocker because anyone who has been in the crypto world would tell you that bitcoin always recovers. Don't know when it will be but I guarantee you that it will go above ATH as well, it will be something strong. I believe that the future of bitcoin is expected to be 100k+ and that will be a good day when it happens, people will have to look at it like a currency and a force to reckon with for sure, there is no way around it.

I mean some of us do already but the whole world will know about it this way. At the end of the day we are going to end up with some issues in the long run, but we will overcome them and keep going higher and higher for decades.

Bitcoin has recovered a bit, but there's still a long road ahead before things go back to normal. After all, we're yet to see the negative effects of the FTX collapse. A crypto company called Genesis has filed for bankruptcy, but I think many other companies will do the same as they were tied to FTX. This last one was the second-largest crypto exchange after Binance with investments here and there.

Maybe 2024 will be a bright year for Bitcoin? Many are hoping it will be that way because of the block reward halving. We should take advantage of "cheap" market prices before everything goes back up again. No one can predict the future so we can only hope for the best. Just my thoughts

Those days, my friend would ask me to invest in some altcoins, and he would be like, "Guy, invest in this token, because in the crypto market nothing is impossible; you could wake up tomorrow and see that your $200 has turned into $2,000." lol, but yea, those words really did move me then. I doubt a lot unless I have a concrete reason proven to be true. If I must say, I got convinced that in the crypto market, nothing is really impossible. FTX fall, Ukraine war, stock market turmoil, and Fud all could contribute to making the Bitcoin price plummet, but at the same time, Bitcoin and investors only need a lil good news for the price to skyrocket 🚀again. 2020 for the COVID pandemic, but in 2021, Bitcoin saw a new all-time high just within a month (November). OP, you can't be surprised 😜 at the quick recovery; a lot of people have been into bitcoin for a long time, and new investors are equally emerging every day. I was in the bank today, and the TV on the wall was showing a news station called "Channel," and at that time, the program going on was an economics news where the Bitcoin price was analysed and the percentage increase within this month is about 30%. lot of people go to the bank and with that, people can still develope more interest for Bitcoin. "Bitcoin is freedom," according to Michael Saylor.

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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! 

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.

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.

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.