Why Bitcoin Has Weathered FTX’s Collapse and Why It Isn’t Time to Buy

The bomb that went off this month in the crypto industry has only given


Bitcoin


a flesh wound. There are good reasons why the largest crypto token has held up despite the disorder that surrounds it, but this isn’t a time for investors to go shopping.

That is not to say the token hasn’t suffered. On Nov. 2, CoinDesk published an article that eventually led to the collapse of FTX, the second-largest crypto exchange. In the 16 days from when the story was published through Friday, Bitcoin’s price had fallen about 18% to $16,500.