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Author: Admin | 2025-04-28
Bitcoin — and the larger crypto market — fell in the final months of 2022 following the crash of crypto exchanges FTX and FTX.US. On Nov. 11, 2022, both exchanges filed for Chapter 11 bankruptcy. And because FTX had invested in so many crypto-related companies and cryptocurrencies, its collapse was felt across the entire industry.While Bitcoin has a history of bouncing back after crashes, recoveries have proven to take months or even years. And although Bitcoin officially recovered all of its post-FTX crash losses by mid-January 2023, it remains a highly volatile asset, and the fallout from the FTX crash is ongoing. Crypto exchange BlockFi, which had received a line of credit from FTX.US and was set to be acquired by it, filed for bankruptcy on Nov. 28. And Gemini is still working to recover assets that were held in its Gemini Earn program, which have been frozen since Nov. 2022. 🤓Nerdy TipIf you're worried about keeping your crypto with an exchange, consider moving your digital assets to a separate crypto wallet. Most exchanges allow you to transfer assets to these wallets, which can be online (on a separate platform) or offline (on a thumb drive with added security features).In general, what factors could cause Bitcoin to go up?Looking ahead, there are a handful of factors that could cause demand for crypto to rise:A crash turns out to be more limited in scope than initially thought. Because so many crypto-related companies are financially entangled through investments and acquisitions, one exchange crash can trigger other companies and currencies to fall like dominoes. If, however, it appears the dust has settled on the FTX collapse, and investors once again pile into the speculative asset, prices could rise. Inversely, if new details emerge regarding the FTX collapse, or if another popular exchange runs
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