Half Girlfriend Writer Predicts Crypto Is Dead
November 16, 2022
Chetan Bhagat, an Indian fiction author, columnist and youtuber, has predicted about the future of cryptocurrency
In his TOI column "Crypto Is Now Dead", the Indian fiction author said FTX collapsed last week, proving a lot of cool guys horribly wrong.
Alongwith many others, FTX collapsed due to massive alleged irregularities, including customer deposits being inappropriately used to buy FTT tokens, he wrote in his piece.
Bhagat also said many are down 80-90% in a year, some completely wiped out. Most investors in crypto are now sitting on losses.
Crypto is not dead, but it will be a lot smaller because of FTX,
Joe Lonsdale, 8VC founding partner and co-founder of Palantir,
said in an interview with CNBC.
Several other crypto experts also predicted that crypto price down doesn't mean the market is going down and some bad news in the market may influence crypto prices temporarily.
As per the WSJ, Bitcoin is inching closer to $17,000, despite crypto lender BlockFi preparing for bankruptcy filing because of its significant exposure to bankrupt crypto exchange FTX