Will Crypto Bounce Back?

Well the FTX debacle and then its filing for bankruptcy has sure put the Crypto World on edge. I have seen articles, most probably written by Crypto haters, that there will be no coming back from this one. I remember hearing that about the Mount Gox scandal too, no going back.

I know there are many people who are skeptical about Crypto, the main reason for this being that nothing backs Crypto except a mathematical equation. Whereas, the argument says, fiat is backed by the power of a government. To me, in both cases, what really matters is the confidence you have in the currency. I do believe governments are scared of Crypto, it gives too much freedom. In fact I would not doubt that several of the crisis that have rocked Crypto the last couple of years, to me could very well be attacks on Crypto by governments or elites who don't want a currency not under their control.

Now, I have no doubt about Crypto's resilience, it will come back, perhaps not all coins, but the ones that do will be stronger. On the other hand I do fear that there might be other Mt. Gox, Terra or FTX platforms just waiting for the right moment to start another catastrophe. In the meantime and being selfish, I need the price to go up because I have to sell a little I have to make ends meet. I hate bankruptcies.

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