The FTX Distribution News Is Not Bullish ๐จ๐จ
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Here's why ๐
โก๏ธ The FTX went bankrupt in November 2022, and since then, a lot of people have been waiting for their funds to get back.
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โก๏ธ Today, it was reported that #FTX is planning to distribute money to its users.
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But here are two things most people are missing:
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โ FTX will give the USD value to the users rather than #BTCโฏโฏโฏ or #ETH, which means they will dump their holdings (This is bearish).
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โ FTX users will get their money based on the crypto prices in November 2022, which means if someone had 1 BTC, they would get $16,000 rather than $43,000.
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I'm happy for all those who are getting their money, but from a price perspective, this is bearish.
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Also, the users will get way less than what they should have gotten.
