Collapse of FTX maybe the biggest blow so far to the cryptocurrencies. Retail investors are pulling back and clearly bitcoin became the biggest victim of the SBF fraud. For the past year bitcoin is down 72%. It is slowly approaching the line of no return. Currently bitcoin has no practical value because of the huge fluctuation in price. Right now it is more exotic value which investors attributed to bitcoin but this value is quickly evaporating and collapse of FTX is speeding up the entire process of losing value by bitcoin. Are bitcoin and cryptocurrencies going to survive this storm? It all depends on the trust of the remaining investors still believing in cryptocurrencies. If they start liquidating their crypto assets it’ll be the end of cryptocurrencies at least those as we know right now.