Wall Street is rejecting a rebound in the price of bitcoin

Social media as we know it has been around for 20 years, which is difficult to comprehend. Social media networks like Facebook and TikTok have progressively built a script for how things work in the twenty years since the introduction of Friendster.

Bitcoin must balance priorities to maintain a successful social media business. You must consider moderation and developing new features to keep users satisfied, brand safety to keep advertisers from spending money, policy work to keep regulators at bay, and you increasingly must provide a rising number of creators with means of generating income.

Each platform takes a different approach to the playbook, but they all improve on what came before by taking note of others' errors and adding their twist.

Based on the halving that occurs every four years and reduces payouts for miners, he said that Bitcoin has a highly repeating cycle. We examined a lot of the quantitative data associated with this and found a significant pattern in these movements.

In our research, which we published in Coin Telegraph, we found that, over the long term, demand determines how much Bitcoin will cost. Even during this [bearish] period, user adoption is increasing; as a result, Bitcoin will eventually continue to increase in value despite its high volatility.

Bitcoin has a hard time determining a fair value price because, according to most people, it's tied to emotion, he claimed. They sell if they are afraid. If people are interested and believe [Bitcoin] can increase, they start buying it.

After bouncing off the double-bottom support level of $15,650 during the European session, Bitcoin began to rise upwards. Genesis Global Capital, one of the largest bitcoin lenders, stopped allowing customer withdrawals because of a liquidity problem brought on by an upsurge in withdrawal requests following the FTX collapse.

On November 10, the business made it known to the public that it had almost $175 million in cash locked up in an FTX trading account. The struggling bitcoin investment bank was contacting potential investors to raise an additional $1 billion. Additionally, sources state that Binance, a cryptocurrency exchange, had discussions about possibly salvaging the lender run by the Digital Currency Group. On November 21, The Wall Street Journal revealed that Genesis had contacted Apollo Global Management and Binance regarding finance. However, due to possible conflicts of interest, Binance rejected it. Genesis Global Trading has proposed bankruptcy as a potential solution as it looks for new capital.

Since the FTX crisis passed, most market participants have been astonished by the recent Bitcoin fall. Santiment explained, but the first cryptocurrency still needs help maintaining its value. On November 21, the analytical company Santiment tweeted about the falling BTC/USD exchange rate. The research firm claims that FUD was to blame for the decrease to $15,800 for the first time in two years due to people's rising mistrust of centralized exchanges in the wake of the FTX debacle. The incident may have also affected the activity of Bitcoin addresses, which had risen to a six-month high. Sentiment also claims that Bitcoin hit the benchmark over the weekend.

Data research revealed that on November 20, they regularly used 1.1 million BTC addresses. It implied that it sent the currency to a large number of lessons. Additionally, many investors made money by moving their assets away from centralized exchanges. It happened due to an imbalance between supply and demand in sales. The reported exchange influx has also dropped recently. The most recent rise per inflow was 253,000 as of November 17. It implied that investors still doubted CEXes despite the lack of selling pressure. The 24-hour trading volume is $33 billion, and the price of one bitcoin is $16,156. In the past day, Bitcoin has increased by more than 2%.