‘Liquidity’ has most affected Bitcoin’s price in the last year, according to trader Brian Krogsgard

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Cointelegraph’s crypto trading secrets The podcast has released Episode 6, covering a tantalizing array of content for cryptocurrency traders. Our guest on this episode is Brian Krogsgard, also known as his Ledgerstatus on Twitter. Krogsgard is a trader and non-fungible token (NFT) platform where he is one of the co-founders of Flip.xyz. He is also a podcaster in the crypto space.

In a question posed during the Feb. 16 recording, host Benjamin Pils asked Krogsgard for his opinion on what he thinks have had the most impact on Bitcoin (BTC) prices over the past year. “Liquidity,” he replied.

“People are short on liquidity for many reasons. They may have bankrupt counterparties, which may have forced them to lose money. Locked up. Lost access to them, lost in trade, lost for taxes.”

“These are all liquidity challenges and the healthiest markets need liquidity and that was the challenge,” he added. Amidst the runaway train of the crypto bear market of 2022, the space has been hit with major turmoil. Several cryptocurrency companies have gone bankrupt, including his FTX, a major cryptocurrency exchange.

“There was a massive re-hypothesis of bitcoin on FTX, so I would say that the problem with bitcoin actually happened long before that,” Krogsgaard continued. , the company’s use of the customer’s collateral for other activities. according to Go to Investpedia. His FTX bankruptcy in November 2022 sparked many headlines, including allegations of misuse of customer assets by FTX and sister company Alameda Research.

“So what the Bitcoin people thought they had in FTX didn’t exist and FTX was selling Bitcoin to do other things. has been a burden to Bitcoin’s price, even in bull markets. ”

Krogsgard offered his thoughts and opinions on several other points during the episode and also talked about his background.