As a result of this, AP has only just shared his assessment in order to determine the level of harm that FTX has caused to the cryptocurrency community.

On Twitter, he has around 1.6 million followers, and he asserts that FTX has damaged the faith of the whole cryptocurrency community in DeFi.

He stated that he had been talking to people in his circle about the issue, and it would appear that the majority of people are still grossly underestimating the ripple effect that the closure of FTX will have on the cryptocurrency industry.

According to Anthony Pompliano, the wider cryptocurrency market has been shaken by the unexpected suspension in trading. The vast majority of investors are not interested in opening any fresh bitcoin investments.

However, he claimed that despite the current tremors, Bitcoin will not prosper, but that it will emerge victorious once more in the years to ahead.

In addition to this, he declared that investors should not turn their attention away from the fact that the current week has been a prophetic event. He emphasized that it does not matter which portion of the financial industry has reached a balance since the harm has already been done to the sector as a whole.

He went on to explore the fact that, at the present time, virtually all capital pools have become aware of a decline in enthusiasm regarding cryptocurrencies.

Investors are Looking for Reliability in the Crypto Market

The cryptocurrency industry, with the exception of FTX, has recently been rocked by a series of consecutive bankruptcies, including those of Celsius and Three Arrow Capital. He stated that at the present time, the majority of investors are concentrating on the potential of Bitcoin over the long run. At this time, the cryptocurrency market is in its most bearish phase.

On the other hand, despite all of the panic and uncertainty, blocks upon blocks of new transactions are still taking place. He went on to assert that investors were pondering issues such as how long Bitcoin will be around for and whether or not they should keep their positions in the market or cash it out. In addition to this, he asserted that Bitcoin has the capability of serving as a store of value in the years to come.