What Is The level of impact of FTX crash on Your portfolio?

TheUltraElite

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Quote from: Marykeller on January 24, 2023, 08:01:04 AM

I will be wrong if am to say that the FXT exchange saga didn't affect the altcoins that I held in my portfolio. Although before the FXT exchange saga, my coins were depreciating already but the moment the FXT clash happened, many of my altcoins that I have held for long lost their value entirely despite not having an account on the FXT exchange.

Bro it's FTX, not the other way round XD

Well it does not matter if you had an account there or not. The event caused market panic and therefore a sell off which is common after any bad news. The effect of that sell off was seen on personal portfolios because all th coins being held there anyway draw their costs from the market which was crashing at that instant.

This is why I suggest people to keep the minimum amount of money in altcoins. At least bitcoin is resilient about such events with time and will hold its ground with gradually recovering over time.

Silberman

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Quote from: bakasabo on January 24, 2023, 04:09:24 AM

I did not have any FTX coins, so its crash did not affect my portfolio at all. People that complained, that FTX crashed has pulled the market down, should look now at Bitcoin price. It is even a bit higher than it was before FTX crash. In general, Bitcoin or cryptocurrency market only reacted on a situation with FTX exchange. It wasnt a market crash, it was just a reaction, or an opportunity to buy at low price. I could say that FTX crash made a positive impact on my portfolio, as it has strengthened Bitcoin and trust in it. It showed (once again) that Bitcoin price always recover, no matter how hard crypto was hit.

At least the crash of FTX brought back to the spotlight the fact that keeping your coins at exchanges is not safe and we need to take control of our coins, and even if it is nice to see people being more responsible as a consequence of the FTX crash, it saddens me this was necessary at all, as this is information we have known for a long time, and I am sure that once enough time passes this lesson is going to be forgotten and newbies will begin to once again keep their coins at exchanges.

Wiwo

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Quote from: maxtra on January 23, 2023, 03:13:14 PM

Quote from: Wiwo on January 08, 2023, 05:35:47 PM

I am not greatly affected by FTX's saga as I do not have an account with FTX and do not currently hold any altcoins that are connected to the exchange.
However, I am still cautious about the current market in the cryptocurrency industry in general.
It's important to note that the cryptocurrency market is highly volatile and past performance is not indicative of future results.
Hope, SHIB/eCash will fly soon.
Lets see.

Since you don't hold any altcoin at the moment why then are you bullish on Shib/ecash you mentioned, and to be frank with you, I never heard the name Ecash before but I know of Shib which is in the same category as dog oin that have also been struggling to recover it market after the last crypto winter that shade off large percentages of the total cryptocurrency market cap.
The FTX sega have affected the general cryptocurrency market for a while now, but at this moment, a good number of coins are already recovering and if any coin is far behind in term of market price and value then the indices for it to recover on the long run is low and investors to be very careful in holding those coins in large quantity.
Better still it is better to convert your investment into more stable assets such as bitcoin.

Marykeller

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I will be wrong if am to say that the FXT exchange saga didn't affect the altcoins that I held in my portfolio. Although before the FXT exchange saga, my coins were depreciating already but the moment the FXT clash happened, many of my altcoins that I have held for long lost their value entirely despite not having an account on the FXT exchange.

ije07

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Quote from: Bazzu on January 08, 2023, 08:28:22 PM

according to what I feel, the impact is not too big because I invest in quality altcoins that have a top 10 ranking. so even though there was a decline in the past, at least there will be a high potential in the future. and now the altcoin that I have is starting to experience a fairly high increase.

so what I feel as a result of the ftx collapse, is not too heavy, fundamentally because I invest in quality altcoins.

Glad to hear that you have taken the opportunity to buy the top 10 listed altcoins on the market at a low price. I think you've taken a few percent off the altcoins. On the one hand, I personally also still hold top altcoins like BNB, MATIC, ETH and of course I have also taken profits when the crypto market was up. besides that, the FTX price is currently also starting to recover slowly, since experiencing a price crash at the end of 2022.

bakasabo

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I did not have any FTX coins, so its crash did not affect my portfolio at all. People that complained, that FTX crashed has pulled the market down, should look now at Bitcoin price. It is even a bit higher than it was before FTX crash. In general, Bitcoin or cryptocurrency market only reacted on a situation with FTX exchange. It wasnt a market crash, it was just a reaction, or an opportunity to buy at low price. I could say that FTX crash made a positive impact on my portfolio, as it has strengthened Bitcoin and trust in it. It showed (once again) that Bitcoin price always recover, no matter how hard crypto was hit.

TheUltraElite

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Quote from: ?? on ??

Actually what happened on FTX coin clash, really affect the rate of cryptocurrency market industries, which also liquidated so many people in future trading as a result of Lost of funds in the portfolio exchange, therefore FTX coin still making impact to increased or recovery from the initial price, which is also have the chance to invest more for the future profits.

Futures only depend on the market price to be able to predict so this was natural. The thing that rocked one market will affect its derivatives too. Now that the dust has settled we can retrospectively say that investing in that coin may have been a poor decision. But we cannot predict which hack or bankruptcy will happen next.

Hence portfolios should be kept on the minimum number of altcoins and th maximum number of Bitcoins. This goes for everyone for newbie to veterans. While an altcoin rich portfolio can perform well too but that is rare to see. Again in such adverse events altcoin maxed folios will suffer the most.

Silberman

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Quote from: n0ne on January 22, 2023, 06:48:16 PM

Quote from: dothebeats on January 21, 2023, 11:43:43 AM

The FTX issue didn't really affect me that much save for the value of some of the coins that I'm holding. Never lost a single coin to FTX, so there's still that but the crash that it brought to my assets kinda hurt. Thankfully though, in the first few weeks of January, we are seeing some good development on the price of bitcoin. Still a long and winding journey to where we were a year and a half ago but we're getting there (hopefully).

Also, if there's anything good the FTX fiasco brought forth to the crypto scene, it is the much-needed awareness that everyone should have on custodial wallets: not your keys, not your coins.

FTX holders were mostly the whales and the high profile cryptocurrency investors. Throughout the thread it is very rare to see users affected much out of the crash. From the very beginning it is being taught, spend what you're able to afford to loss without life getting disturbed. Another thing it is good to go with bitcoin than anything else. It looks like majority of our forum members follow it and that's the reason why much aren't affected.

Unfortunately not every single trader or investor out there has an account on this forum and instead use other platforms to communicate with each other, and out there you will find bots and all kind of users trying to incite others to invest in shitcoins all the time, and since that is the advice they are receiving newbies assume that is what everyone is doing and those are the necessary steps they need to take in order to make profits, which is not the case and instead are the main cause of the major losses they have to face.

o48o

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Quote from: n0ne on January 22, 2023, 06:48:16 PM

FTX holders were mostly the whales and the high profile cryptocurrency investors. Throughout the thread it is very rare to see users affected much out of the crash. From the very beginning it is being taught, spend what you're able to afford to loss without life getting disturbed. Another thing it is good to go with bitcoin than anything else. It looks like majority of our forum members follow it and that's the reason why much aren't affected.

Big whales might lose more in value but same in percentages as others. Like they do in every bear run. They will also gain most in value when the prive moves up so there's that.

And you don't need to be FTX holder to be affected. FTX caused mass panic and people were dumping most of their altcoins. Only if you people who stayed in fiat money or shorted something weren't affected. As everything went down it didn't even matter what you shorted.

maxtra

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Quote from: Wiwo on January 08, 2023, 05:35:47 PM

1: What is the impact of FTX bankruptcy sega on your altcoin portfolio?
2: what is the level of your portfolio recovery because I am well aware that some coins have started recovering already, but we can't be certain how long that recovery will last.

I am not greatly affected by FTX's saga as I do not have an account with FTX and do not currently hold any altcoins that are connected to the exchange.
However, I am still cautious about the current market in the cryptocurrency industry in general.
It's important to note that the cryptocurrency market is highly volatile and past performance is not indicative of future results.
Hope, SHIB/eCash will fly soon.
Lets see.

n0ne

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Quote from: dothebeats on January 21, 2023, 11:43:43 AM

The FTX issue didn't really affect me that much save for the value of some of the coins that I'm holding. Never lost a single coin to FTX, so there's still that but the crash that it brought to my assets kinda hurt. Thankfully though, in the first few weeks of January, we are seeing some good development on the price of bitcoin. Still a long and winding journey to where we were a year and a half ago but we're getting there (hopefully).

Also, if there's anything good the FTX fiasco brought forth to the crypto scene, it is the much-needed awareness that everyone should have on custodial wallets: not your keys, not your coins.

FTX holders were mostly the whales and the high profile cryptocurrency investors. Throughout the thread it is very rare to see users affected much out of the crash. From the very beginning it is being taught, spend what you're able to afford to loss without life getting disturbed. Another thing it is good to go with bitcoin than anything else. It looks like majority of our forum members follow it and that's the reason why much aren't affected.

_BlackStar

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To be honest I was negatively impacted during the FTX crash for while, my asset value went down because of it. The same for other people, my guess. But for whatever reason ^{[other than urgent need]} I don't sell any of my assets especially bitcoin. I stuck with it even though my PNL was negative for days, months until I smiled in early January. I ignore price volatility, while I continue to accumulate and am happy to say that I am currently in the green.

Without panic and good emotional control, we might be able to make wise decisions. Dump doesn't mean dead, and everyone who survived and accumulated last year should be able to smile during January.

Yatsan

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Quote from: dothebeats on January 21, 2023, 11:43:43 AM

The FTX issue didn't really affect me that much save for the value of some of the coins that I'm holding. Never lost a single coin to FTX, so there's still that but the crash that it brought to my assets kinda hurt. Thankfully though, in the first few weeks of January, we are seeing some good development on the price of bitcoin. Still a long and winding journey to where we were a year and a half ago but we're getting there (hopefully).

Also, if there's anything good the FTX fiasco brought forth to the crypto scene, it is the much-needed awareness that everyone should have on custodial wallets: not your keys, not your coins.

But the market prices of all crypto fell down right? But I get it. You'd only suffer from loss if you chose liquidating your funds by means of sellinh due to panick. For sure those who held up until now suffered because the market price began falling in an instant which somehow triggered a domino effect resulting to the lowest market price since ATH. Unfortunately, some tokens which were dragged by the negative news about FTX, are still having a hard time to recover even if major tokens are now on green marks. Well, it is still not too late for those coins and to not cut your losses in portfolio. What we are experiencing seems to be a spike only and true bullish run has not yet started.

dothebeats

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The FTX issue didn't really affect me that much save for the value of some of the coins that I'm holding. Never lost a single coin to FTX, so there's still that but the crash that it brought to my assets kinda hurt. Thankfully though, in the first few weeks of January, we are seeing some good development on the price of bitcoin. Still a long and winding journey to where we were a year and a half ago but we're getting there (hopefully).

Also, if there's anything good the FTX fiasco brought forth to the crypto scene, it is the much-needed awareness that everyone should have on custodial wallets: not your keys, not your coins.

Dave1

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Quote from: BIT-BENDER on January 20, 2023, 04:32:33 PM

This is 2023 this sort of question is unnecessary, the FTX drama happened around last year and at that time it real affected many people and definitely causes mental depression and financial set backs.

That's the worst though, when those are affected not just their money but their mental health as well. And that is the one of the worst drawback of this crypto investments. Sometimes its hard to lose that hard earn money of us to the point that there are people who thinks of taking their lives by committing suicide.

Quote from: BIT-BENDER on January 20, 2023, 04:32:33 PM

This is a new year I think those whose portfolio are trying to move over it. So revisiting it by asking such questions aren’t necessary but you can try to find out what we learnt from it.

Gonna be hard, but yes, they should move on and just take this as a experience under their belt.

Hopefully they can get their money back or at least some, once the court liquidated FTX and SBF assets.

BIT-BENDER

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This is 2023 this sort of question is unnecessary, the FTX drama happened around last year and at that time it real affected many people and definitely causes mental depression and financial set backs.

This is a new year I think those whose portfolio are trying to move over it. So revisiting it by asking such questions aren’t necessary but you can try to find out what we learnt from it.

Silberman

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Quote from: TheUltraElite on January 19, 2023, 12:08:07 PM

Quote from: TribalBob on January 15, 2023, 08:56:57 AM

I didn't experience much impact from FTX because I only used FTX to buy ETH and didn't keep my funds in exchange wallets other than exchanges that have representatives in my country
For portfolio recovery, it will take time until the market is really good, I think and it won't be in the near future

Portfolio is a group of assets so they will run just like the market runs. Recovering the portfolio should never be the target, in a face of bad news every asset will drop in their price and you will face a red filled portfolio. Your job at that time is to accumulate more to increase assets that were difficult to obtain previously. A badly bought coin is way more harmful that a bad news bringing down the valuation of your portfolio.

Those who had coins stored on the exchange will have suffered irrecoverable losses and they should have learnt their lesson.

Exactly, newbies look to make profits when they sell but in fact profits are made when you buy, if you buy a good asset when is selling at a huge discount then you know that sooner or later you can sell it for a way higher price, you just need to hold it and wait for the asset to work its magic and then you will obtain profits without too much of a problem, and this is yet another reason why investing in shitcoins makes no sense since they will never exhibit this kind of behavior.

posi

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Quote from: bitzizzix on January 20, 2023, 09:05:00 AM

... and I can only say, you guys have to be patient and take this as a valuable lesson and be more careful in choosing exchanges.

FTX is also a leading exchange in the market, it can be said that we cannot tell which exchange will crash until it does, even with Binance, there is no guarantee that they will not crash in the future. It is tough to completely stop using exchanges, what we can do is limit their use to store our assets, only using them when necessary. For traders, it is recommended to withdraw all assets to a personal wallet at the end of the business day or just leave a small amount there. Don't trust CEX too much, including Binance.

safar1980

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#SWGT CERTIK Audited

New FTX Chief Says Crypto Exchange Could Restart
In his first public interview since taking over the failed cryptocurrency exchange, John J. Ray III said that he’s open to the idea of rebooting operations
FTX’s new chief executive, John J. Ray III, said he is looking into the possibility of reviving the bankrupt crypto exchange as he works to return money to the failed company’s customers and creditors.

bitzizzix

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because i don't put my assets in FTX, so i don't receive any impact and also i prioritize bitcoin all this time and only have a small part in altcoins.
and I also didn't make any additions to add to my altcoins, because I only prioritized adding bitcoin gradually and that was before the FTX case happened, because whatever happens in the crypto world I always believe that bitcoin can still be relied upon and able to bounce back.
and what matters the most in the case of FTX are those who keep their assets there, and I can only say, you guys have to be patient and take this as a valuable lesson and be more careful in choosing exchanges.

Topic: What Is The level of impact of FTX crash on Your portfolio? (Read 532 times)