BTC sellers in November bought their coins at much higher levels and sell at a loss now, max pain (blue). But current buyers buy cheap and will be the foundation for the next bitcoin bull run (red).
The FTX collapse is an expensive ad for #Bitcoin. Too many good ideas have been pursued by the #Crypto industry in an unethical, unsound, irresponsible fashion. The only viable future is registered digital assets trading on regulated digital exchanges.
To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify. 1/2
@TrustWallet@binance Self custody is a fundamental human right.
You are free to do it at any time.
Just make sure you do do it right.
Recommend start with small amounts to learn the tech/tools first.
Mistakes here can be very costly.
Stay #SAFU
If you want to withdraw funds from an exchange, consider not withdrawing fiat (usd, eur etc) but bitcoin, because that will help bitcoin price. If you withdraw in fiat the exchange has to sell coins. If you withdraw in btc the exchange has to buy real btc.