People were so upset by the 2008-2009 financial crisis that someone decided to create a people's own financial system, This was the birth of Bitcoin.
I believe a lot of people were secretly hoping crypto would also bring down the legacy financial system. I don't think anyone thought a movement to decentralized financial services would be brought to its knees by a 20-something kid that created his own exchange and centralized the decentralized concept.
Institutional investors and whales like Mr Wonderful in the video now understand investing in crypto carries career-limiting risk.
My guess is this will be a watershed event that eliminates ~80%-90% of the scam altcoins, and puts the focus back on the original context of Bitcoin.
Bitcoin will suffer from collateral damage though. Actually, I am looking at this as the buying opportunity I have been anticipating.
I will be moving the funds I have off of Binance, and Kucoin, and moving them to Coinbase, which I believe is the best-regulated and most transparent coin exchange, and wait.
I will be watching for the 50/200 cross on the daily chart before I consider buying. I would not be surprised to see Bitcoin go much lower from here before this occurs. GLTY
News 
Market Data 
Discover 
