### Crypto prices have fallen to create a new local bottom last November 9 at around USD15,500, give or take a few hundred, depending on the exchange. In this the bear market the prices still took a deeper plunge but unaffected coins like bitcoin, can still rally big after the bear market winds down.

![tview](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/56b87f80-534b-4ddf-5e36-da6409de0200/public)

Dailyhodl cited Tone Vays, one of the original and pioneer crypto YouTubers in their [article]( https://dailyhodl.com/2022/11/12/veteran-trader-tone-vays-says-bitcoin-could-explode-450-next-yeardespite-recent-crash-heres-why/): 

“Cryptocurrency analyst and trader Tone Vays is detailing the long-term bull case for Bitcoin (BTC) after the flagship digital asset reached two-year lows triggered by FTX founder and crypto outcast Sam Bankman-Fried. In a new video, Vays tells his 123,000 YouTube subscribers that even if Bitcoin falls to around $11,000, the largest crypto asset by market cap could still reach a new all-time high of $100,000 next year.” 

Stockmoney Lizards pointed out that BTC has been through other “black swan” events similar to the FTX collapse. BTC survived those and came out stronger. 


https://twitter.com/stockmoneyl/status/1591353522188177409?s=61&t=QUEHrFLdyFZcQaHu1lxliA 

<blockquote className="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> We have indeed seen a real black swan event, the <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw">#FTX</a> bankruptcy. The history of <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> is lined with such events and the market will recover from it as it did in the past. <a href="https://t.co/1qihyyLRqx">pic.twitter.com/1qihyyLRqx</a></p>&mdash; Stockmoney Lizards ⚡️ (@StockmoneyL) <a href="https://twitter.com/StockmoneyL/status/1591353522188177409?ref_src=twsrc%5Etfw">November 12, 2022</a></blockquote>  

The chart above shows the following past black swan events: 
1. Mt. Gox 
2. Bitfinex 
3. COVID 19 

The Mt. Gox and Bitfiinex events were massive hacks of the exchanges. Mt. Gox lost 740,000 bitcoins worth about USD500 million [at the time](https://buybitcoinworldwide.com/mt-gox-hack/#:~:text=Until%%20E2%80%A6-,Mt.,%24460%20million%20at%20the%20time.). 

Bitfinex lost 119,756 bitcoins worth about USD72Million at [that time](https://en.m.wikipedia.org/wiki/2016_Bitfinex_hack). 

The chart also shows significant drops in the price of bitcoin near or around the time of the black swan events. The huge drops were eventually followed by bitcoins famous parabolic rallies. 

We also believe that BTC will shake off the bear market and the FTX debacle, like how BTC has moved on from past problematic events. We even believe that now is a good time to load up on more sats! When the next parabolic rally comes, we’ll all wish we had more! 

Crypto prices have fallen to create a new local bottom last November 9 at around USD15,500, give or take a few hundred, depending on the exchange. In this the bear market the prices still took a deeper plunge but unaffected coins like bitcoin, can still rally big after the bear market winds down.

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