Last year when FTX collapsed, traders panic-sold BTC for a loss of $4.4 Billion in BTC in one day, the 2nd-highest amount ever recorded. This ended up being the very bottom and BTC’s price has more than doubled since
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This serves as a great lesson in panic-selling. It is also a great lesson in buy low sell high. Many people think they know when the price is low buy often it's just a unfounded feelings. However, then the real opportunities come by they get emotional and make the wrong decision. The collapse of FTX was one of those opportunities. And like clockwork traders just mass-panicked and panic sold their tokens for a total loss of $4.4 Billion. And smart-money came in and bought in all up as they knew buy-low opportunities don't come better than this. Since the date of that panic-selling right through 2023 to now, the price of Bitcoin (mostly) just keep increasing and never even came close to that low. The price then was around $16,600 and it is now more than double that a year later. That rough $16k figure ended up being virtually the exact bottom of BTC's price. submitted by /u/After_Sock_3550 |
