The BTC/USD price continued wavering on Thursday as the fallout of FTX\u2019s crash continued.
Buy the BTC/USD pair and set a take-profit at 18,000.The BTC/USD price continued wavering on Thursday as the fallout of FTX’s crash continued. It was trading at 16,528, which was slightly below this week’s high of 17,166. Bitcoin has plunged by more than 23% from its highest level this month.Bitcoin struggled to find buyers as concerns about contagion in the crypto industry continued. On Wednesday, a crypto lending unit of Grayscale halted its withdrawals.
On a positive side, there is a likelihood that this collapse will lead to changes in the crypto industry. For example, after the collapse of Lehman Brothers, Congress passed the Dodd-Frank bill that tightened the screws of the financial sector. The challenge will be on how to pass the bill considering that the recent midterms led to a more tight congress.
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