FTX/Bitcoin: The risk of infection is not completely reflected in the prices

According to the spectacular bankruptcy of FTX last week, investors reported reportedly to withdraw funds from competing stock exchanges. Fears of infection have concentrated on Crypto.com, a stock exchange based in Singapore. But the reaction of Bitcoin, the flagship of cryptography, was strangely steamed.

chief executive Kris Marszalek said that he would publish the evidence of the reserves of Crypto.com "within weeks". This seemed to be a delayed way for a data -controlled company in order to pre -rushed investors. The statements of crypto entrepreneurs must now be checked by boring, old-fashioned auditors.

ftx seems to have net liabilities of around $ 8 billion. Classic breakdowns of financial companies were often associated with high financial assets that loosened. Examine the authorities on the Bahamas, the FTX base, whether there is criminal misconduct.

It can be assumed that the risk of opponent will concentrate the most poisonous on crypto companies. Your most important assets are digital assets that you would put in every shot for real money.

In view of the historical volatility, the prices have hardly moved. Bitcoin has fallen by 20 percent since the beginning of November. But daily movements have disappeared to the same extent. This is strange at a time when the volatility of the US shares, which Bitcoin previously reflected, has increased.

using the following volatility measurements even fell under the volatility of the S&P 500 at the end of October, the first time since March 2020. The calm of Bitcoin and an unusually long period of the tension-bound trade around the $ 20,000 mark.

Bitcoin can hardly have become less risky. Chartists would insist that the standard is "resistance levels". Or another mysterious factor supports its price.

Despite all their earlier loud support for Bitcoin,

crypto enthusiasts reject it in the digital currency to invest with a large discount against historical prices. As with conventional investors, your evaluation is implied by the 41 percent discount, with the shares of the Grayscale Bitcoin investment fund in relation to the net inventory value.

This indicates widespread and completely rational fears that the infection in the crypto industry is spreading.