FTT has fallen by 90%...
the entire crypto market is falling.
And gold is growing.
Why and how is this related?
Chronology
November 6: An analyst under the pseudonym Lookonchain noticed that 23 million FTT coins (about $530 million) were transferred from a "cold" wallet to the Binance exchange. Only one person (with the exception of Alameda itself) had such a large stock, so there could be no doubt about it. It was CZ. Actually, he did not hide much, confirming with a slight delay on Twitter that he decided to sell these shitcoins to FTT.
After that, a series of news came out confirming the presence of big problems at Alameda.
The founder of Alameda started looking for funds because the company started having liquidity problems.
And even Binance did not dare to help Alameda.
On this news, the entire crypto market began to fall rapidly.
People started selling cryptocurrency and tried to withdraw money.
Just at this time, a record was set for transactions with stablecoins.
People wanted to protect their funds, but where to invest their funds now?
Gold
Gold has historically been considered a lifeline for investors.
In times of crisis, gold has always been considered the tool that can save you from losing money.
On November 3, gold began its growth.
To date, the growth has amounted to 9%.
What does it mean?
The crisis continues, bitcoin has been falling for a year.
November 10, 2021: $BTC 69000$
November 10, 2022: $BTC 15600$
All problematic companies close down and accelerate the decline of the crypto market.
The bottom is not visible yet.
Be careful, especially if you decide to open long positions.
the entire crypto market is falling.
And gold is growing.
Why and how is this related?
Chronology
November 6: An analyst under the pseudonym Lookonchain noticed that 23 million FTT coins (about $530 million) were transferred from a "cold" wallet to the Binance exchange. Only one person (with the exception of Alameda itself) had such a large stock, so there could be no doubt about it. It was CZ. Actually, he did not hide much, confirming with a slight delay on Twitter that he decided to sell these shitcoins to FTT.
After that, a series of news came out confirming the presence of big problems at Alameda.
The founder of Alameda started looking for funds because the company started having liquidity problems.
And even Binance did not dare to help Alameda.
On this news, the entire crypto market began to fall rapidly.
People started selling cryptocurrency and tried to withdraw money.
Just at this time, a record was set for transactions with stablecoins.
People wanted to protect their funds, but where to invest their funds now?
Gold
Gold has historically been considered a lifeline for investors.
In times of crisis, gold has always been considered the tool that can save you from losing money.
On November 3, gold began its growth.
To date, the growth has amounted to 9%.
What does it mean?
The crisis continues, bitcoin has been falling for a year.
November 10, 2021: $BTC 69000$
November 10, 2022: $BTC 15600$
All problematic companies close down and accelerate the decline of the crypto market.
The bottom is not visible yet.
Be careful, especially if you decide to open long positions.
