{"id":509570,"date":"2022-11-12T16:02:10","date_gmt":"2022-11-12T13:02:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-will-shrug-off-ftx-black-swan-just-like-mt-gox-analysis\/"},"modified":"2022-11-12T16:02:10","modified_gmt":"2022-11-12T13:02:10","slug":"bitcoin-will-shrug-off-ftx-black-swan-just-like-mt-gox-analysis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-will-shrug-off-ftx-black-swan-just-like-mt-gox-analysis\/","title":{"rendered":"# Bitcoin will shrug off FTX \u2018black swan\u2019 just like Mt. Gox \u2014 analysis"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3db87af28b0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3db87af28b0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-will-shrug-off-ftx-black-swan-just-like-mt-gox-analysis\/#%E2%80%9D_Bitcoin_will_shrug_off_FTX_%E2%80%98black_swan_just_like_Mt_Gox_%E2%80%94_analysis_%E2%80%9C\" >&#8221; Bitcoin will shrug off FTX \u2018black swan\u2019 just like Mt. Gox \u2014 analysis &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-will-shrug-off-ftx-black-swan-just-like-mt-gox-analysis\/#FTX_%E2%80%9Ca_real_black_swan_event%E2%80%9D\" >FTX \u201ca real black swan event\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-will-shrug-off-ftx-black-swan-just-like-mt-gox-analysis\/#Exchange_BT_reserves_near_five-year_low\" >Exchange BT reserves near five-year low<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_will_shrug_off_FTX_%E2%80%98black_swan_just_like_Mt_Gox_%E2%80%94_analysis_%E2%80%9C\"><\/span>&#8221; Bitcoin will shrug off FTX \u2018black swan\u2019 just like Mt. Gox \u2014 analysis &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-e13e51fa>Bitcoin (BTC) will recover from the FTX black swan event\u00a0just like other setbacks, trading team Stockmoney Lizards believes.<\/p>\n<p>In a tweet on Nov. 12, the popular commentator <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/StockmoneyL\/status\/1591353522188177409\">argued<\/a> that the week\u2019s events were actually nothing new for Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"FTX_%E2%80%9Ca_real_black_swan_event%E2%80%9D\"><\/span>FTX \u201ca real black swan event\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite falling 25% in days, BTC\/USD is not doomed as a result of the insolvencies impacting FTX, Alameda Research and possibly other major crypto companies.<\/p>\n<p>For Stockmoney Lizards, the unraveling, while sudden, is not hugely different from liquidity crises from earlier in Bitcoin\u2019s history.<\/p>\n<p>\u201cWe have indeed seen a real black swan event, the FTX bankruptcy,\u201d it said:<\/p>\n<blockquote><p>\u201cThe history of BTC is lined with such events and the market will recover from it as it did in the past.\u201d<\/p><\/blockquote>\n<p>An accompanying chart flagged similar black swan moments from the past, stretching back to the Mt. Gox hack in 2014.<\/p>\n<p>Two other notable events were the hack of the exchange Bitfinex in 2016 and the March 2020 COVID-19 cross-market crash.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/c9692673-739b-4e10-be4f-61d747bf648f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Stockmoney Lizards\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, ex-FTX executive Zane Tackett even offered to copy Bitfinex\u2019s liquidity recovery plan from the time of its $70 million loss by creating a token. FTX subsequently filed for Chapter 11 bankruptcy in the United States.<\/p>\n<p>Reactions have included frank <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>raisals of the crypto industry, with Filbfilb, co-founder of trading suite DecenTrader, forecasting a multi-year recovery process.<\/p>\n<p>Changpeng Zhao, CEO of Binance, which at one point planned to buy FTX, has warned that the industry has been \u201cset back a few years.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_BT_reserves_near_five-year_low\"><\/span>Exchange BT reserves near five-year low<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, the loss of user confidence is already showing up in declining exchange balances.<\/p>\n<p><strong><em>Related:\u00a0Hodlers in loss sit on 50% of BTC supply after $5.7K Bitcoin price dip<\/em><\/strong><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/btc\/summary\">According<\/a> to data from on-chain analytics platform CryptoQuant, the BTC balance of major exchanges is now at its lowest since February 2018.<\/p>\n<p>The platforms tracked by CryptoQuant finished Nov. 9 and 10 down 35,000 and 26,000 BTC, respectively. Both days were multi-month records, nonetheless not surpassing the single-day tally from Jun. 17 \u2014 67,600 BTC.<\/p>\n<p>Exchange outflows continue to be <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JA_Maartun\/status\/1591410494694428673\/photo\/1\">monitored<\/a> by industry analysts, among them CryptoQuant contributor, Maartunn.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/fd6fe3e7-34ca-4eef-b1d6-abd3202631e3.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange reserves chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>More broadly, voices have been calling on social media users to withdraw funds from custodial wallets.<\/p>\n<p>\u201cBitcoin exchanges are run by people who learned fiat finance,\u201d Saifedean Ammous, author of the popular book, <em>The Bitcoin Standard<\/em>,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saifedean\/status\/1591158850446852096\">wrote<\/a> in part of a Twitter post:<\/p>\n<blockquote><p>\u201cGambling with depositors\u2019 money is normal &amp; healthy for them, because in the fiat system the central bank destroys the currency to bail them out every time it goes wrong.\u201d<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-will-shrug-off-ftx-black-swan-just-like-mt-gox-analysis\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin will shrug off FTX \u2018black swan\u2019 just like Mt. Gox \u2014 analysis &#8220; Bitcoin (BTC) will recover from the FTX black swan event\u00a0just like other setbacks, trading team Stockmoney Lizards believes. In a tweet on Nov. 12, the popular commentator argued that the week\u2019s events were actually nothing new for Bitcoin. FTX \u201ca&#8230;<\/p>\n","protected":false},"author":1,"featured_media":509571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNTJkNzg1MWItNjczYS00NDQyLWIyZWMtY2NkMzQ1MGM1NzdmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74860,135234,73785],"class_list":["post-509570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrency-exchange","tag-ftx","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=509570"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/509571"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=509570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=509570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=509570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}