Why Bitcoin Has Weathered FTX’s Collapse and Why It Isn’t Time to Buy

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The bomb that went off this month in the cryp­to indus­try has only given


Bitcoin


a flesh wound. There are good rea­sons why the largest cryp­to token has held up despite the dis­or­der that sur­rounds it, but this isn’t a time for investors to go shopping.

That is not to say the token hasn’t suf­fered. On Nov. 2, Coin­Desk pub­lished an arti­cle that even­tu­al­ly led to the col­lapse of FTX, the sec­ond-largest cryp­to exchange. In the 16 days from when the sto­ry was pub­lished through Fri­day, Bitcoin’s price had fall­en about 18% to $16,500.

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