Op the market has started to recover as per your prediction. Basically, some investors believed the hype and expressed disappointment without analyzing the depth of the market. The theft of crypto from Binance, a reliable exchange for cryptocurrency investors created some fear among small investors. The theft from such a large exchange was unbelievable to many. The weakness of the security system was probably not expected by any investor from this huge organization.

As a result of this fear the demand for crypto may have decreased slightly and the price decreased slightly. You can call this a regular correction phase. There should be no fear and panic because Binance has promised its customers to cover all losses. The market is recovering and the bull run will start soon.

Bitcoin can only dump if the hackers that stole money from exchanges decided to dump the coins but there is no at to do it. So far, they can't move the coins to centralized exchanges and they don't want to use the decentralized exchanges because they fear they are going to lose their money. That is why they are swapping the coins between the chains. Altcoins are the coins that are getting hit in this dump, they don't do Bitcoin that's why the price is not dumping.

Binance has even replenish the stolen coins. There hot wallet are filled up and back to where they belong for customers. Some people are waiting for the price to dump now but they aren't ready to buy. Why want Bitcoin to dump and you are not ready to buy any coin.

This year happens to be the year a lot of crypto related platforms got hacked,and this will put fear in the mind of those that were interested in starting their crypto journey.It’s just like starting an investment and only for you to find out that where you started your investment has reported a lot of hacks,honestly a person that don’t have a tough skin wouldn’t think twice but to stay away from the market.The rampant hack reports would pose a threat indirectly to the crypto world,but the as it is known “not your keys not your coins”,so the money you put in your exchange shouldn’t be kept there for too long it should be there for active trading and not a means to hold for the long term.

If there is a major hack in the cryptocurrency space, there will definitely be panic among all the investors. There are many investors who will panic sell Bitcoin as soon as they hear about it, hoping to recover their losses, but after the current Binance hack, it is not happening as it was supposed to because since Binance is taking responsibility for their losses, the fear among the investors has gone away. Usually, when the trust in a major exchange in the crypto market decreases, it directly affects the market, which is why the market goes bearish, and even if there is a major hack, the same situation is created among the investors. Investors lose trust, which is why the market can be bearish. But even if Binance is hacked, the hackers cannot take the entire assets there, which is definitely a positive aspect. If the hacked money can be recovered, the market can be stronger than before. In the meantime, a positive trend is seen in the market.

What do you mean by buyback? So you think the bitcoins we all lost will be bought back by Binance? Bro, they were thousands of bitcoins, and if Binance were to buy them back and give them to us, then why isn't BTC pumping, haha?

They never said they would buy back every single asset that was stolen. They just said they would replenish them from their reserves, SAFU, and their own assets.

So don't expect the market to move up. The FUD in the market is also mainly due to the midterms in the US, not Binance.

Looking at the market today, does it seem that bad? No. Because conditions are different now. Maybe in the past, when an exchange was hacked, it had a significant impact on the market, but things have changed since then. Now the market is more mature, and investors are smarter in understanding what's actually happening. So even if such incidents occur, the impact is no longer so bad.

You are right. Crypto market looks more mature. Investors are also no longer easier to be influenced by bad news. So, there will be no more panic selling because of bad news, even it is bad news like the hack of big exchanges. Yes, the market has moving in a different direction today, it has increase gradually again. I see Bitcoin price returning to around $80k-$81k again. If this continues until the end of this week, I think the decline has stopped and the price may try to reach $85k again in the near future. What do you think?

The reason why exchange hack affected the market in the past was because many people sold their assets because they were afraid but today, investors who hold their assets in centralized exchanges just makes withdrawals to self custody wallets instead of selling them because the market holds more value now than it was in the past. Imagine if someone who owns 50 Bitcoin sells his Bitcoin out of fear due to the exchange hack. A lot of investors do not want to sell their assets anymore because they are now wiser and knows the aftermath. I also like the way that investors are coordinated, they don't panic over exchange hacks anymore.

The reason why so many people were expecting the prices to dump after the hack was because they know this market is full of panicking retail investors who wouldn't think so much about what has happened, who is affected and who isn't, and whether people are going to get their money back or not, they just hear about the biggest centralized exchange of the industry getting hacked and the hack is the biggest of the industry, they simply panic and decide to sell, and when mass selling happens, we know what happens. So we can't really blame people speculating on a drop after such an incident, after all, it all depends on how people react to such things, and there is always a possibility of a drop happening in such times.

Those who are wise enough and understand everything properly would obviously stay calm and observe everything properly, get updates, and see what is going to happen. Binance provided quick updates about what happened and what they are going to do, reassuring its users that they won't lose a penny and it's the company that will take the hit, which is great, and I believe this was one of the reasons why the market didn't crash as much as it was expected to crash, but another reason is probably that the market is getting more matured over time, and more retail investors are now getting wiser, probably, and might have a change of mindset regarding hacks and exploits of such nature.