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The first question cryptocurrency owners should ask themselves right now is whether bitcoins, dogcoins and other tokens are safe. Get them in the hands of the wrong dealer or manager, and they can go off into a never-ending cycle of withdrawals, which may never happen. The second question is closely related: has the price fallen enough to justify a purchase? There is no clear answer, of course, since these are speculative assets with no basis for speculation. But for other speakers and true believers who think that we will all end up using the crypto financial system, it is worth thinking about how investors are prepared for the system crisis. For the rest of us, it fun to watch from the sidelines. The easiest way is to look at the prices. Since peaking in November, bitcoin has fallen 77% against the dollar, a dramatic decline. Since the first crypto crisis in May, before Sam Bankman-Fried FTX has stepped in to calm things down, bitcoin has almost collapsed. But since the run on FTX that started with CoinDesk report about its hedge funds earlier this month leading to its payout, the price has fallen more than 20%. There is no way to say for sure how much confidence in the crypto ecosystem has been damaged by the magnitude of the failure. But on a larger scale, the 77% drop in prices is not that far off from the 85% drop in US stocks from the peak to the financial crisis of 2007-2009. Bitcoin is also better than a bank because it itself cannot fail, although the exchanges that allow it to trade seem to fall like dominoes (and unlike banks, they do not have the Federal Reserve to save them). Take that thought, and perhaps most of the loss of faith has already been explained in this process. The removal of speculators is another proof of this. Some crypto hedge funds have no choice but to stop trading as their funds are locked in a collapsed exchange. Others have chosen to take less risk, which means less money to support the value of crypto. The proof is, first of all, that there is little demand to borrow crypto assets, because speculators no longer want to take more risks. The interest that can be obtained by lending tether, a "stablecoin" that is pegged to the value of the dollar, has fallen to only 2-3%, less than what can be obtained from the risk-free dollar . There is almost no demand for bitcoin lending, and lending rates on Aave and Compound, two decentralized financial platforms for borrowers and lenders, are close to zero. Second, advertising in the popular arbitration market has increased dramatically. These are businesses that are successful when investors want to take risks, because the benefits are easy to calculate - for example, using different price values for different crypto groups separate, or buy a publicly traded company that holds shares. . These and other arbitrage transactions are no longer popular because they require a lot of involvement and involve the risk that the counterparty, exchange or listed company will fail. Third, the number of stablecoins in circulation has decreased as loans are repaid. There was only $65 billion outstanding, down from a peak of $83 billion in May.

Although investors are still digesting the damage from yesterday events in the cryptocurrency market, some analysts warn that the drama will not end anytime soon. Cowen analysts said investors should watch the situation "carefully" as the US government could step in and block the deal. "We are concerned in Washington that the Committee on Foreign Investment in the United States [CFIUS] may want to investigate it for national security concerns and its implications for the United States. different from FTX," the researchers said in a. a customer. say. Analysts believe that this drama continues to undermine the entire cryptocurrency market through the US legal system. Congress may hold more hearings next year focusing on whether the global crypto revolution threatens financial stability in the United States. "It does not matter if it is a global change. It makes the news that the crypto industry takes too much risk without any care," said the researchers. The biggest winner may be the United States Securities and Exchange Commission (SEC), as its chairman, Gary Gensler, advocated for stronger crypto regulations. It is hard for the SEC to approve Bitcoin ETF spots. "We expect him to refer to the current FTX issue to further prove his point. This means treating many tokens as securities and forcing trading platforms to register as exchanges." "We already doubt that Congress can pass comprehensive crypto legislation next year. This controversy changes our thinking. We believe it is now difficult to pass bills like Lummis/Gillibrand. Still, it could pave the way for bills that take a more aggressive approach to regulation," Cowen analysts concluded.

Bitcoin, Ethereum, and maximum cryptocurrencies prolonged losses on Monday. The worldwide crypto marketplace cap stood at $1 trillion, with an extent of $70.1 billion withinside the beyond 24 hours. "The meme coins, flying excessively over the information of Elon Musk`s Twitter throne, regarded to have died down. The charge hikes introduced on Friday with the aid of using the American Federal Reserve and the Bank of England did now no longer appear to transport the crypto marketplace. BitcoinThe world`s biggest and maximum famous digital currency, Bitcoin, fell 1.2 percent to $20,989.5. Its marketplace fee stood at $403.four billion. The exchange extent changed to $53.6 billion. EthereumThe 2nd biggest digital currency, Ethereum or Ether, fell 1.5 percent to $1,592.7 with a marketplace capitalization of $194.nine billion. The alternate extent of Ethereum was $12.five billion withinside the closing 24 hours. DogecoinMeme-primarily based totally digital currency, Dogecoin, slumped 5.2 percent on Monday. Its marketplace cost stood at $15.6 billion. The alternate quantity became $1.three billion. Shiba InuShiba Inu fell 2.2 percent with a marketplace capitalization of $6.6 billion. The alternate quantity became almost $418 million withinside the remaining 24 hours. SolanaSolana slipped eight.three percentage to $32.eight with a marketplace capitalisation of nearly $11.eight billion. The alternate extent of Solana was $1.7 million withinside the ultimate 24 hours. PolygonPolygon jumped 7.1 percent with a marketplace capitalization of $10.8 billion. The changing extent was $952.four million withinside the final 24 hours.

BTC is still trading above the $20,000 level despite falling 0.67% on the day. BTC price breaking above 50 weekly EMA will be a reversal of market volatility. BTC daily 20 EMA has crossed above the 50 EMA line. Crypto market leader Bitcoin (BTC) is still trading above the $20,000 level despite a price increase of 0.67% over the past 24 hours, according to CoinMarketCap. The current price of BTC is also down 2.19% for the week. Its price can reach a daily high of $20,742.81 and a daily low of $20,087.13. Meanwhile, the daily trading volume for BTC increased by 43.14% to bring the total trading volume to $55,757,082,615. Investors and investors withinside the crypto markets were debating whether or not or now no longer BTC has reached its backside for this endure marketplace, as a backside for BTC will in the long run suggest that a turnaround for the crypto marketplace is close to or taking place. Looking on the weekly chart for BTC/USDT, the charge of BTC has been in a -week high quality series main as much as this week`s candle. The charge is now coming near the weekly 20 Exponential Moving Average (EMA) line. Should BTC`s charge smash above the weekly 20 EMA, then it may be argued that BTC`s backside has been established, and the crypto marketplace will begin turning round withinside the following weeks. A particular affirmation of a marketplace turnaround could be whilst BTC`s weekly 20 EMA line crosses bullishly above the 50 EMA line. A principal bullish flag has been signaled on BTC`s each day chart because the each day 20 EMA has simply crossed above the each day 50 EMA. If the traces do now no longer move bearishly over the following days, it may be a very good possibility for investors to go into into a protracted swing trade.