Panic May Take Over the Stock Market and the Crypto Market Tomorrow, but If You Own Bitcoin, There’s No Need to Panic.
Here is Why.
Fear is still dominant in the Bitcoin market.
After the collapse of Silicon Valley Bank (SVB), it makes sense. It is becoming increasingly clear that FTX was just the tip of the iceberg. More fiascos and collapses are to be expected.
The current monetary and financial system is flawed and not fixable.
I have said this over and over again and I have explained in my book “The Truth About Bitcoin” how the 7 deadly sins it suffered from will lead it to collapse.
So unfortunately I am not surprised that the shameful practices of unscrupulous bankers lead to this kind of catastrophic situation for customers. Because the real victims of SVB's collapse are the customers who still don't know if they will be able to get their deposits back!
These bankers are playing with money that is not theirs by following their own arbitrary rules while knowing that in case of problems, they will never be the ones to pay the price. It's easier to do this when you are never held accountable for your actions.
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