By Hassan Mehmood (Saudi Arabia)
Anthony Pompliano, who has made a name for himself in the cryptocurrency community based on his podcast, has come forward for comment. The cryptocurrency market is currently undergoing another pressure phase created by the FTX collapse.
To this end, AP has recently issued his opinion to measure the extent of damage done to the crypto community by FTX.
He harbors around 1.6 million followers on Twitter and claims that FTX has shaken the trust of the entire cryptocurrency community in DeFi.
He claimed that he had been having conversations in his circle on the topic, and it seems that most people are still underestimating the cascading impact of FTX’s demise on the crypto sector.
As per Anthony Pompliano, the greater cryptocurrency market has felt the shock of a sudden halt. Most investors are not willing to take up new cryptocurrency positions.
He, however, maintained that despite the recent shockwaves, Bitcoin would not thrive, but it will come out on top again in the upcoming years.
He also exclaimed that investors should not look back from the fact that the ongoing week has been a portent affair. He maintained that it does not matter which part of the financial sector has struck a balance, but the damage has been done.
He further examined that, at present, almost all capital pools have sensed the withdrawal of interest for cryptocurrencies.
Investors Want Stability in Crypto Sector
The cryptocurrency sector has suffered from back-to-back bankruptcy proceedings such as Celsius and Three Arrow Capital other than FTX. He claimed at present; most investors are focusing on the long-term potential of Bitcoin. The crypto market is in its darkest phase.
On the other hand, there are blocks upon blocks of new transactions happening regardless of all the panic and uncertainty. He further exclaimed that investors were asking a question like how long Bitcoin will last and whether they should retain their positions in the market or cash it out. He also claimed that Bitcoin has the potential to act as a store of value for the future.
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