Another Fud or Its Reality? BTC is Down Again

[Not your key not your BTC]

Not your key not your btc

Lets withdraw your crypto on exchange, save it on your own wallet

[davis196]

The answer is simple FUD and FUD, (i am not trying to accuse anyone here just stating the facts) people are exiting from the market as i mentioned above and volume is decreasing which is a bad sign. The dominance of BTC will decrease. I wonder what would have created so much panic among lower-class traders and investors who have exited the market.

1.Trading volume can decrease right now and increase after several months. I don't think that trading volume is such an important metric.
2.BTC dominance going down? Do you really think that the altcoins will stay bullish, when Binance gets out of business? I think that the entire crypto market will get affected in the short term. There's no reason to worry, though.
3.Most crypto traders/investors are just "sheep". They are cowards and every time something bad happens, they just panic and sell.
The crypto markets will be fine in the long term. The crypto world can survive without Binance(if Binance really gets shut down).

[Crypt0Gore]

Honestly, I have been thinking about what will happen next in the crypto space that will affect the market once again, when things was going as planned in 2019 and we all thought that we are in the recovery stages then the CovID came out of nowhere.

No wonder I wasn't satisfied yet, I knew something like this would possibly happen, I know CZ have created many enemies for Binance exchange the moment he leaked out the secret of Sam and FTX, I don't expect Sam's people to stay silent and not do anything about it, that includes his family.

Now it looked like the revenge is been served, successfully.

What I like about crypto space is that, these type of unexpected events don't always last longer, a part of me will be happy that the market crashed again and the other part of me will be sad because this bear market can last even longer, but all is well if you are here for the long term anyway.

Even if Binance will this, it's still not the end, I know those that are doing this behind the curtain, an Italian man is involved as well, I wished CZ never came out in the public to unveil what FTX was doing all along, CZ should have leaked this shit using someone else, not himself.

[v3liana]

I have a feeling this is going to happen and That's why I set buy orders 5% below the actual price. Catching flash crashes worked well so far. If it’s quick rebound, then SEC helped me to make some very quick money. The SEC is truly coming big on Crypto this year, will be interesting to see how much survives at the end of this year.

[Outhue]

What else can one say than to withdraw your funds from the Binance exchange? I got the news very earlier yesterday and I watched how the price started to sink, I don't know how CZ will go about this but I trust he will not go down without a fight, SEC is a corrupt shit, they focused on Binance exchange more than anything, because it's the leading crypto exchange.

Many altcoins have been labeled as securities by the SEC, this was at the same time when the news about CZ breaking the rules was released, and most altcoins on the list are those with ISO 20022, I believe these will be the most affected.

I think it's time for Binance to abandon the US and find a different location, Singapore will be better, or a more crypto-friendly country.

[NotATether]

If Bitcoin goes down because of Binance getting sued then so what? Eventually people will forget about all this in a few years time and the Bitcoin price will go up again when other developments kick in.

I have a feeling this is going to happen and That's why I set buy orders 5% below the actual price. Catching flash crashes worked well so far. If it’s quick rebound, then SEC helped me to make some very quick money. The SEC is truly coming big on Crypto this year, will be interesting to see how much survives at the end of this year.

They should mop up the bottom 95% of crypto first. [Not so] shockingly [to anyone who has an idea of how crypto works], these coins are vaporware and have absolutely no use. Assuming there are 5000 and tokens and coins listed, only the largest 250 survive.

[Blitzboy]

Sure enough, the present-day legal kerfuffle engulfing Binance and its magnetic chief Changpeng Zhao has rocked the crypto scene like a quake. You've painted a lucid sketch of the turmoil with your insights, but allow me to chip in my two cents. Straight off the bat, from a scholarly standpoint, it's a must to remember that markets thrive on intel and sentiments. The gossip of court cases against such a heavyweight crypto platform could quite naturally spark a sell-off frenzy, especially among the freshies and the risk-shy folks.

But let's put this in perspective. Binance has had its share of legal run-ins before, and still, it's been soldiering on, outdoing itself and hogging the crypto exchange spotlight. CZ, the man's been crafty in dodging the rulebook, but his motive appears transparent enough: he's keen on keeping the US clientele happy. Now comes the million-dollar question - Is it FUD? Views may vary. For some, it's a legit worry; for others, it's just a temporary hiccup. In the end, it's the market players who will call the shots. As for Bitcoin feeling the heat, there's no denying the short-term blow could be significant. But let's not lose sight of the fact: Bitcoin has weathered far bigger storms. This episode could just be another notch in its robust journey.

[passwordnow]

Yeah, I also see it as a FUD, and SEC has done it not just once but many times and they've done it as well against Ripple. There are basis but I wouldn't let myself be invested in this news. While those people claim that if Binance goes down then crypto will go to zero. Come on, these people just want everyone to panic so that you'll be selling what you've got and they'll be buying all of those cheap Bitcoins. Again, this market isn't for the fainted heart and any news that's related to these exchanges doesn't have something to do with Bitcoin directly. Yes, they could affect the price but that's temporary.

[Frankolala]

Binance been sued by SEC will not have any big impact on bitcoin price,bitcoin has survived so many challenges and the price is 25k. This shows that bitcoin will overcome whatever plans the US government are bringing to ban crypto of to have a bad side effect on bitcoin to go very dip will only last for a short. As for Binance,investors will transfer their coins to a safer wallet to be on the safe side.

Panic not,this is not new anymore instead you should see the dip as an opportunity to buy more to your bitcoin portfolio because soon the price will pump again. Relax and be happy that bitcoin is a store of value and will always prove to the government that it is beyond their control of bringing bitcoin down. The most important thing is that
1BTC = 1BTC.

[raidarksword]

Sick and tired of this bullshit FUD of SEC, they are really making moves and desperate to take the biggest exchange of crypto and that's Binance. FUD has been there for many years now but they never succeed in the end because crypto always win no matter how hard they tried. OG crypto people will just laugh this kind of news because we all know this will not last long enough as the market rally back up again. Nonetheless, Binance will fight SEC until the end and they know that CZ will never back down.

[Zlantann]

I have a feeling this is going to happen and That's why I set buy orders 5% below the actual price. Catching flash crashes worked well so far. If it’s quick rebound, then SEC helped me to make some very quick money. The SEC is truly coming big on Crypto this year, will be interesting to see how much survives at the end of this year.

The SEC is going after exchanges and altcoins but Bitcoin is getting immune to these attacks. FUD generated by these attacks will have some negative impact on the price of Bitcoin but it will not last because investors will always return to Bitcoin. It is the best investment in the crypto space so after FUD FOMO will set in.

Honestly, I have been thinking about what will happen next in the crypto space that will affect the market once again, when things was going as planned in 2019 and we all thought that we are in the recovery stages then the CovID came out of nowhere.

No wonder I wasn't satisfied yet, I knew something like this would possibly happen, I know CZ have created many enemies for Binance exchange the moment he leaked out the secret of Sam and FTX, I don't expect Sam's people to stay silent and not do anything about it, that includes his family.

The crypto space should be guided by openness and transparency. When a company is hiding its operations from the eyes of the public, then something fishy is happening in secrets. Exchanges or crypto firms that engage in fraudulent or criminal activities should be pushed out of the sector because they will always cause harm and discourage people from appreciating the sector. It will be to the advantage of the crypto space if these shady billionaires expose their secrets because it will help to sanitize the sector.

[bluebit25]

I just had a short chat with a few friends about the price issue of the market in the last few hours, most of them know about the main reason being the SEC and CZ and Binance controversy. But I find the problem is that most people just look at the news and consider it negative, and making the decision to sell, the crowd mentality reacts clearly with the suspicion and fear of everyone future people. This discussion I think will continue going forward, although not too concerned about how the price will move but I see people are more oriented to the news than to the news. stay comfortable with it. The story will soften as people continue to look to the long-term future that the bitcoin price will one day cross the $100000 mark and beyond.

[dragonvslinux]

The latest breaking news is that Coinbase is now also being sued by the SEC in a co-ordinated attack on crypto exchanges:
https://cointelegraph.com/news/sec-sues-coinbase-crypto-exchange

It very much looks like they wanted to take cryptocurrencies down a peg, even if this doesn't affect the likes of Bitcoin and Ethereum that have avoided being labelled as securities. Within 2 days 2 exchanges have now faced lawsuits. I wouldn't be surprised to see more this week, such as Kucoin, ByBit or OKX, etc. It looks like they aren't just targeting the biggest exchange, but potentially a handful of them.

The reason I say this is as they have already listed 61 altcoins that are securities, and naturally there are many other big exchanges that offer these coins pairs. Potentially they will wait for a few big lawsuits to play out in their favour, but if they do, they will no doubt issue more lawsuits against numerous exchanges, if there is a lot of dollar to be made by getting settlements without the court cases.

[jeraldskie11]

What happened in Binance recently, in my opinion, was definitely a manipulation. There have been several complaints and charges leveled at Binance in the past, and nothing has been done to tackle them. According to my observations, whenever there is bad news in the market, the price falls. Fundamentals can be used as a strong confluence on your technical analysis in most cases if you know how to analyze the market. So, whatever news I received about Binance, I believe it was designed to manipulate the price.

[Maslate]

What happened in Binance recently, in my opinion, was definitely a manipulation. There have been several complaints and charges leveled at Binance in the past, and nothing has been done to tackle them. According to my observations, whenever there is bad news in the market, the price falls. Fundamentals can be used as a strong confluence on your technical analysis in most cases if you know how to analyze the market. So, whatever news I received about Binance, I believe it was designed to manipulate the price.

There has been a sudden dump, but it isn't very significant, so I believe it's just temporary. Those who sold off may have panicked because they are not accustomed to the FUD (Fear, Uncertainty, and Doubt) in the crypto market. There is always negative news, and when it comes to lawsuits or anything that could tarnish the reputation of a particular exchange, we shouldn't immediately believe it. Binance and its CEO will surely fight for their rights and strive to win any case brought against them.

If we witness a dump, it's not a problem as we consider it an opportunity, as long as we maintain our belief that Binance is here to survive and thrive in the long run.

[eightdots]

I just had a short chat with a few friends about the price issue of the market in the last few hours, most of them know about the main reason being the SEC and CZ and Binance controversy. But I find the problem is that most people just look at the news and consider it negative, and making the decision to sell, the crowd mentality reacts clearly with the suspicion and fear of everyone future people. This discussion I think will continue going forward, although not too concerned about how the price will move but I see people are more oriented to the news than to the news. stay comfortable with it. The story will soften as people continue to look to the long-term future that the bitcoin price will one day cross the $100000 mark and beyond.

For a person with a large amount of investment, these news may be a valid reason to exit the market in question. Because people want to know that their investments are safe. What matters is where they hide their investments. I don't know if it's related to FUD. After this news, many people withdrew their Bitcoins to another exchange or wallet. That's the whole point for now. Or that's all I can see. I wonder what will happen next. Let's watch together how Binance will affect the market or how this case will progress. We are experiencing a very important event.

Bitcoin has survived many such incidents. He always stood upright. That's why I'm not worried.

[Franctoshi]

I wouldn't say it's FUD, they have been served with the lawsuit already.

But the thing is that it just shows really how the US government is undermining everything related to crypto at this point.

The only narrative that I saw behind all of this attacks is that they are pushing for their CBDC platform, and working together with other big banks. Anyway, I think the future still looks bright for crypto. If US doesn't want it, or having a hard stance, then the exodus has started already.

Obviously, This is tactically the US government trying to cause mass panic and market crash by going after Binance and Coinbase to pave way for CBDCs. The US government is like sees the crypto space as huge threat to their united state dollar hegemony as countries may use it to escape sanctions and I do think this is reason for all these law suits and why SEC has refused to come out with Its regulatory clarity on cryptos and plus the existence of cryptos may hinder their agenda to push forward CBDC's.

[kryptqnick]

It seems that the lawsuit is real, and since the SEC is asking the federal judge to freeze Binance's assets, I understand that it can cause a lot of panic on the market. After all, their assets probably include the money of their customers (perhaps just US customers, but maybe not), so people may be concerned about accessing their funds. It's never a good idea to store money on an exchange, and now would be a good time to withdraw if one has funds on Binance. As for wider impact, I hope Binance wins the lawsuit, but the proceedings can take a while. I think the BTC price change is temporary, though, just as an immediate reaction to the news. So, to clarify, the lawsuit is real, but the price is down due to FUD.

[retreat]

-snip-

Now, what will happen to the market, how down it will go? is there still room to go down or hitting $25k was the target?

I see that cases like this are things that sooner or later will be faced by Binance and several other exchanges operating in America. The SEC doesn't seem to want to see that they are bigger, so they are always monitoring and looking for faults on these exchanges. But if because of a case like this you say that this is the end of Bitcoin that is a big mistake. Bitcoin has experienced bleaker times and the proof is that it can rise and get stronger. I still see that Bitcoin still has a bright future. The bitcoin market that tends to decline is a natural thing because of the market response, it will definitely stabilize again and increase and maybe we will touch $ 30K USD this year.

[Cookdata]

Now, what will happen to the market, how down it will go? is there still room to go down or hitting $25k was the target?

You have said everything, but you should know that CZ, Sec, and all other centralized exchanges, in general, have crooks in their cycle, none of them says or do what they say to the public, and their interest comes first before anyone.

There is no way CZ will want to claim that in about 130 pages that were presented to them by the SEC, they cannot deny all the allegations in that paper even when it is obvious that the SEC is doing a witch hunt against Binance, the manner which they handle Binance wasn't the way they treated Coinbase, I wonder how it would have become of the market if it was international Binance that was involved in this case. Rest assured, they will settle in court and the worst they can do Binance.us and CZ is to fine him and the business will continue as usual as if nothing ever happen.