FXT BUY OUT VOYAGER

Since the beginning of this week, Bitcoin is been up 5% and many developments happens this week. Do Kwon the founder of terra, he responsible for the huge loose of the crypto market. Right now, his location is unknown since the time of the LUNA/USDT crash. Many different countries' authorities are attempting to arrest him for breaking the capital market law. Not only that the official government of many countries wants to arrest him and officials are requesting to freeze his crypto wallet.

Currently, the Bitcoin price is about $19,300 but this week Bitcoin it was above $20,000. There are a lot of fluctuations going on with the bitcoin market. Ethereum is not doing very well because it is currently at $13,300. I prefer Ethereum to Bitcoin even though they have the same amount of risk. If we see Ethereum going down, Bitcoin will also go down a vice visa. I think Ethereum has much higher potential because of the updates some up soon.

Right now, mortgage refinancing has dropped seriously and interest rates going high. Because of the announcement, the fed made last week, the mortgage rate is going higher. Some might say the interest rate is small but it has a big impact on the amount people would be paying out. There is a big drop in mortgage application volume and it is because of the interest rate and the uncertainty in the market. Currently, about 85 percent of American has changed their spending habit while some people are looking for an extra job.

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The survey we are seeing shows how dangerous the recession is to all people. The dollar is continuing to gain more power while the British pound is reducing in value. For many years, the British pound has been i little more valuable than the pound but if this continues, things could change. Like I said before, the authorities are looking at Do Kwan. Although, Do Kwan said in his statement that he not running yet no one could find him.

We see that FTX which is a crypto exchange won the bid to buy out the bankrupt voyager for $1.4B. This year FTX moved their US headquarters from Chicago to Miami and also there President moved from the President role to an advisory role. This is not the first time we are seeing this in the crypto world. FTX buying out voyager is a deal because other big companies like Binance and Coinbase also bided. There are still many things going on in people's minds and they are wondering whether or not the customers who lost the cryptocurrencies are going to get their money back. During this bearish market, we are going to see companies acquiring crypto exchanges. This is just a business move, it is not necessarily because they care about people.