Crypto Market Predictions: The Fallout of FTX and Where We Go From Here

In this clip from the LeoFinance Podcast, we discuss the fluctuating state of the crypto market. Despite predictions that Bitcoin would reach $100,000 by the end of the year, we would now be lucky to see it reach only $20,000. As we look back on the events of the past year, we see that there are two main narratives at play.

One narrative is that there was a lot more contagion in the market than we were aware of, and the actions of one major player, FTX, had far-reaching effects on the entire cryptocurrency space, leading to a kind of nuclear fallout.

The other narrative is that the cryptocurrency market is prone to rapid blow-ups followed by slow and steady recoveries, and this prolonged blow-up has not been seen before. As the sellers run out of steam, we may see companies like Blockfi and others struggle and potentially even be crushed. In fact, Blockfi recently filed for Chapter 11 bankruptcy but was previously "saved" by SBF, adding a touch of irony to the situation.

There is also a theory that FTX may have saved certain projects in order to gain access to their users' capital and leverage that for their own gain, operating as a ponzi scheme with the involvement of their own employees. Another theory floating around is that there is an "Alameda printing machine" in the Bahamas manipulating the market.

It's concerning that all of these events have gone under the radar and it's important to stay informed about the state of the cryptocurrency market, see Mitch and I give our hot takes about them in this clip from the LeoFinance Weekly AMA!

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