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<pre class="wp-block-verse has-text-align-center">Experts told what dynamics to expect from the digital currency market in the short term</pre>



<p>On the morning of November 13, the <strong>bitcoin </strong>rate is $16.7 thousand, over the past week it has decreased by 21.4%. Experts analyzed the situation on the <strong>crypto market</strong> and told what dynamics to expect in the coming week</p>



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<h2 class="wp-block-heading" id="h-any-negative-news-will-crash-the-market-financial-analyst-bitriver"><strong>“Any negative news will crash the market”<br>Financial Analyst BitRiver </strong></h2>



<p>The second week of November crossed out all the achievements of buyers since mid-September. The collapse of the <strong>crypto market</strong> occurred due to the fiasco of <a href="https://cointopsecret.com/2022/11/10/the-head-of-binance-spoke-about-the-possible-purchase-of-ftx/" target="_blank" rel="noreferrer noopener">negotiations </a>between the head of <strong>Binance</strong>, <strong>Changpeng Zhao</strong>, and the head of <strong>FTX</strong>, Sam Bankman-Freed.</p>


<blockquote class="twitter-tweet">
<p lang="en" dir="ltr">In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago.<a href="https://t.co/IUNkPcLC8T">https://t.co/IUNkPcLC8T</a> <a href="https://t.co/XGlIJB7EV5">pic.twitter.com/XGlIJB7EV5</a></p>
<p>&mdash; CZ ð¶ Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1590351182513729544?ref_src=twsrc%5Etfw">November 9, 2022</a></p></blockquote>
<p> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>



<p>On Monday, <strong>Changpeng Zhao</strong> caused a liquidity crisis on the <strong>FTX exchange </strong>with his announcement of the <strong>FTT token </strong>sale. As it turned out, the majority of <strong>FTX</strong>-related company Alameda&#8217;s assets ($14.6 billion) were <strong>FTT tokens</strong>.</p>



<p>Since Tuesday, investors began to actively get rid of the<strong> FTT token</strong> and sell off <strong>crypto </strong>assets. The collapse of the market lasted two days. Changpeng tried to save a competitor through a takeover, but, having familiarized himself with the financial condition of the company and the misuse of customer funds, he refused the deal.</p>


<blockquote class="twitter-tweet">
<p lang="en" dir="ltr">This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire <a href="https://t.co/BGtFlCmLXB">https://t.co/BGtFlCmLXB</a> and help cover the liquidity crunch. We will be conducting a full DD in the coming days.</p>
<p>&mdash; CZ ð¶ Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1590013613586411520?ref_src=twsrc%5Etfw">November 8, 2022</a></p></blockquote>
<p> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>



<p>The collapse of <strong>FTT </strong>led to the collapse of the <strong>FTX exchange</strong>. The token has fallen in price by 92%, to $1.82. The <strong>bitcoin </strong>rate fell to $15.58 thousand. The Cypriot regulator suspended the <strong>FTX </strong>Europe license. The Bahamas Securities Commission has frozen the funds of <strong>FTX </strong>Digital Markets, which was the operator of the <strong>FTX crypto exchange</strong>. The US Securities and Exchange Commission (SEC) has launched an investigation into <strong>Sam Bankman-Fried</strong>. He himself filed for personal bankruptcy. The <strong>FTX </strong>exchange also announced on its Twitter page (the network is blocked in Russia) that it had filed for bankruptcy.</p>



<p>The head of <strong>Binance </strong>destroyed the strongest competitor in a couple of days. It is believed that <strong>Zhao </strong>deliberately made public statements about the sale of <strong>FTT</strong>. The fire was partially contained by US statistics on Thursday. The slowdown in inflation in the US collapsed the dollar and increased the demand for risky assets. Traders sold the US currency on expectations of a slowdown in the cycle of aggressive interest rate hikes by the US Federal Reserve. The <strong>BTC/USDt</strong> pair jumped 16% to $18.2K.</p>


<blockquote class="twitter-tweet">
<p lang="en" dir="ltr">Press Release <a href="https://t.co/rgxq3QSBqm">pic.twitter.com/rgxq3QSBqm</a></p>
<p>&mdash; FTX (@FTX_Official) <a href="https://twitter.com/FTX_Official/status/1591071832823959552?ref_src=twsrc%5Etfw">November 11, 2022</a></p></blockquote>
<p> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>



<p><a href="https://cointopsecret.com/2022/11/12/future-fund-ftx-team-retired/">*Future Fund FTX team retired</a></p>



<p>Although the dollar index continued to fall on Friday, the <strong><a href="https://coinmarketcap.com/" target="_blank" rel="noreferrer noopener">cryptocurrency </a></strong>stopped growing. <strong>Sam Benkman-Fried</strong> has undermined the credibility of the <strong>crypto industry</strong>. Investors fear the collapse of other <strong>crypto </strong>companies that have liquidity problems due to <strong>FTX</strong>. We just don&#8217;t know about it yet. Alameda can &#8220;drain&#8221; its portfolio in the market to take advantage of the rebound.</p>



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<p>The inflation report temporarily diverted investors&#8217; attention from <strong>FTX </strong>problems, although the market situation remains tense. After the collapse and rebound, the<strong> BTC/USDt</strong> pair is trading at $16.8K in the range of $15.6K-$18.2K. The shock has passed, but the activity of buyers is very low. Without new negative news, the continuation of the correction above $18.5 thousand is preserved. In such conditions, this will be a feat for buyers. The risks of <strong>Bitcoin </strong>falling to $12,000, according to my estimates, are more than 70%. The market is low-liquid, so any news about the collapse of another exchange with its own token will collapse the market in a day. It takes a couple of weeks for the dust to settle after <strong><a href="http://ftx.com/" target="_blank" rel="noreferrer noopener">FTX</a></strong>.</p>



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<h2 class="wp-block-heading"><strong>“The crisis did not allow bitcoin to grow”<br>ENCRY Foundation co-founder </strong></h2>



<p>With all the desire to reassure the market, I see no preconditions for bitcoin to recover even to $20,000. All the positive momentum that the market received after the publication of data on consumer price growth in the United States has already been taken into account in the price of <strong>bitcoin</strong>, which managed to recover to $18,000. But the crisis around <strong>FTX</strong>, which is still in an acute phase and has just begun to develop, did not allow bitcoin to grow and it again fell below $17 thousand.</p>



<p>Next week, the market will be waiting for developments around <strong>FTX</strong>, details of Alameda and <strong>FTX </strong>debts, possible solutions to the problem of repaying debts to customers, possibly the actions of US regulators, and they will definitely follow, because many companies that are somehow connected with the US market were affected — Galaxy Digital Circle.</p>



<p>It is not yet fully understood how catastrophic the collapse of Alameda is for those companies that <strong>Sam Bankman-Freed</strong> has actively rescued in recent months. There have been rumors of <strong>Alameda </strong>commitments of up to $50 billion, and I agree with the assessment &#8211; this could be the real equivalent of the collapse of Lehman Brothers for the crypto market.</p>



<p>Well, what can I say&#8230; <strong>bitcoin </strong>will easily go to $15 thousand, maybe a little lower, but hardly to $10 thousand. Next week, I allow a fall to $14-15 thousand, it is unlikely that the <strong>cryptocurrency </strong>will go even lower &#8211; as far as I can see from the order books , followed by large orders to buy. So even if <strong>bitcoin </strong>falls below this level, it will be immediately bought back.</p>



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