Crisis and new opportunities – The cryptocurrency market was massively shaken by the fall of FTX. Indeed, the trading platform has dragged down the price of most cryptocurrencies. Faced with this fall in the market, new opportunities are emerging. Thus, Edward Snowden plans to buy back Bitcoin.
Fall of FTX and Crypto Markets
You probably couldn’t miss it. the impressive fall of the FTX platform. Thus, it went in the space of a few days from one of the most influential players in the ecosystem to bankruptcy.
Obviously, the debacle of such a giant inevitably impacted the crypto markets as a whole. In some cases, the drops are due to the links between FTX and the projects. This is particularly the case of SOL de Solana which has seen its price drop by 50% over the last 7 days.
At the same time, the rest of the market was also affected by the fear that gripped investors. So the BTC price has dropped 18% in the last 7 days. The same goes for ETH or even BNB. In the top 100, some cryptocurrencies recorded declines of around 30%.
>> Want to add bitcoins to your wallet? Sign up on Bitget (commercial link) <<
Edward Snowden sees an opportunity in Bitcoin
As in any crisis, these massive declines can also be the source of many opportunities for investors.
This is particularly the opinion of the whistleblower Edward Snowdenwho said on Twitter that “For the first time in a long time, I’m starting to feel the need to come back to the charge”.
However, he still specifies that it is not investment advice, given that he has no no financial education and no idea what he does.
Anyway, if you were to give in to the sirens of “buy the dip” we advise you not to store your cryptocurrencies on a centralized platform.
Indeed, the FTX disaster could well drag other exchanges down with it. Thereby, Crypto.com and Gate.io were at the center of an incomprehensible maneuver after the “accidental” sending of 400 million dollars between the two platforms.
Like Edward Snowden, you think that blockchain technology and cryptocurrencies will soon be at the heart of everyone’s daily life. You can expose yourself to Bitcoin, Ethereum and other tokens on the rising exchange. Sign up now on Bitget and begin to familiarize yourself with this world (commercial link).