Bitcoin clings to $17K as ARK flags 'historically significant capitulation'
BTC price action is suffering from FTX, but decentralized blockchains are "as strong as ever," says ARK Invest. Bitcoin (BTC) and decentralized blockchains are “as strong as ever” in the wake of the FTX meltdown, ARK Invest says. In the latest edition of its monthly newsletter, “The Bitcoin Monthly,” the investment giant came out firmly bullish on BTC. ARK: FTX scandal may be "most damaging event" ever With BTC price volatility ebbing into December, the industry is still reeling from ongoing FTX contagion. As lawmakers only begin to get to grips with the events, when it comes to Bitcoin, ARK is doubling down on its conviction — and setting it firmly apart from centralized alternatives. “The fall of FTX could be the most damaging event in crypto history,” one of the latest report’s “key takeaways” states. While acknowledging that even Digital Currency Group (DCG) — one of whose products, the Grayscale Bitcoin Trust (GBTC), it recently bought — “faces considerable pr...