Bitcoin will ignore FTX's 'black swan' just like Mt. Gox - analysis
There may not be much new to worry about when it comes to the consequences of FTX and the resilience of Bitcoin .
Market news
Bitcoin (BTC) will recover from FTX 'black swan event' just like other setbacks, Stockmoney Lizards trading team believes.
In a November 12 tweet, the popular commentator claimed that the events of the week were actually nothing new for Bitcoin.
FTX "a real black swan event"Despite falling 25% in a matter of days, BTC/USD is not doomed due to insolvencies affecting FTX, Alameda Research, and possibly other major crypto firms.
For Stockmoney Lizards, the outcome, although sudden, is not much different from the liquidity crises of Bitcoin's early history.
"We have indeed witnessed a real black swan, the bankruptcy of FTX," he said.
"BTC's history is littered with such events and the market will recover from them as in the past."
An accompanying chart pointed to similar "black swan" moments from the past, dating back to the 2013 Mt. Gox hack.
Two other notable events were the Bitfinex exchange hack in 2016 and the March 2020 COVID-19 cross-market crash.
Annotated BTC/USD chart. Source: Stockmoney Lizards/TwitterAs Cointelegraph
There may not be much new to worry about when it comes to the consequences of FTX and the resilience of Bitcoin .
Market news
Bitcoin (BTC) will recover from FTX 'black swan event' just like other setbacks, Stockmoney Lizards trading team believes.
In a November 12 tweet, the popular commentator claimed that the events of the week were actually nothing new for Bitcoin.
FTX "a real black swan event"Despite falling 25% in a matter of days, BTC/USD is not doomed due to insolvencies affecting FTX, Alameda Research, and possibly other major crypto firms.
For Stockmoney Lizards, the outcome, although sudden, is not much different from the liquidity crises of Bitcoin's early history.
"We have indeed witnessed a real black swan, the bankruptcy of FTX," he said.
"BTC's history is littered with such events and the market will recover from them as in the past."
An accompanying chart pointed to similar "black swan" moments from the past, dating back to the 2013 Mt. Gox hack.
Two other notable events were the Bitfinex exchange hack in 2016 and the March 2020 COVID-19 cross-market crash.
Annotated BTC/USD chart. Source: Stockmoney Lizards/TwitterAs Cointelegraph
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