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.
Topic: Its safe to say Bitcoin has recovered all it's losses since the FTX collapse? - page 3. (Read 261 times)
January 24, 2023, 07:56:05 AM
January 24, 2023, 07:48:34 AM
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.
• 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.
January 24, 2023, 07:26:35 AM
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. January 24, 2023, 07:18:26 AM
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 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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