The FTX story isn't over yet, but lessons from the collapse to investors are already clear as day, according to financial advisors.
While the dramatic story of the firm's failure isn't over yet, it's a post-FTX era in crypto world, and the biggest takeaways for investors are already clear, according to financial advisors. First things first: do your homework on crypto and figure out if it aligns with your goals. If you decide to keep buying it after that, learn how to keep it secure.
Bulls have long believed that its best use is as a hedge against inflation or a safe-haven asset in times of uncertainty. This year, moves in bitcoin's chart have been more in tune with the ups and downs of stocks. And as historically high inflation persisted, bitcoin continued to fall, and even touched a two-year low just last month. One of bitcoin's most salient qualities is that different narratives serve different types of investors.
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