đ¨The FTX Distribution News Is Not Bullishđ¨
Here's why
đThe FTX went bankrupt in November 2022, and since then, a lot of people have been waiting for their funds to get back.
Today, it was reported that FTX is planning to distribute money to its users.
But here are two things most people are missing:
â FTX will give the USD value to the users rather than BTC or ETH, which means they will/have dump their holdings (This is bearish).
â 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.
â¨I'm happy for all those who are getting their money, but from a price perspective, this is bearish.
â¨Also, the users will get way less than what they should have gotten.
