Crypto experienced bloodshed

[ndutndut]

The crypto market has plummeted to around $ 1 trillion today, with a liquidation amount exceeding $ 200 million within 1 hour. In particular, some tokens that have been registered as securities by SEC have been devastated:

Like there, matic, sol, fil, sand and several other tokens are also affected, but Bitcoin (BTC) and Ethereum (ETH) only experience a slight decline.

https://www.coingecko.com/

What causes this market decline?

The fall of the market is caused by traders who feel significant selling pressure due to Robinhood's decision to remove there, matic, and sol. It is assumed that Robinhood stores around $ 1.3 billion in Altcoin and $ 583 million in the form of existence, matic, and soles.

While Coinbase is preparing to fight against SEC by stating that he has no plans to delete tokens that are allegedly considered securities or will not stop his staking services until there are court orders, other US companies such as Robinhood and Grayscale are unable to continue to serve the token.

Another reason came from the decision of the Moody credit rating agency which reduced the coinbase rating from stable to negative.

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

[Yatsan]

Series of bad events. One thing I guess which caused the market ctash is the issue concerning the largest exchanger which is Binance. It happened that investors associated this instance with what happened before with FTX as we all know. Another is the CME Gap which is meant to be filled before an actual uptrend occur. Not only these two but there are more for sure. This is how easily demand can be affected both direct and indirect events could make a 'wave' towards the market value of cryptos.

Whether it is the right time to buy or not, I think it would be better to check on one's capacity or tolerance with this industry's risk. Ofcourse an investor would want to buy at a lower market price but problem is, it would be hard to determine the exact bottom. The price could also increase in no time. Therefore, you should make a decision whether to wait for a little longer or to enter right now and endure possible market price downfall.

[YOSHIE]

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

Maybe at this time we often see crypto developments on the market, whether it's speculation and things that make all investors wonder, is crypto currently experiencing bloodshed and so on, I think that currently all forms of speculation return to ourselves in assessing crypto developments on the market to determine whether it is worth trading or investing.

For me, what steps should be taken towards crypto back to ourselves, of course everything we want to do is only the best for ourselves, I think this is a good step to consider for the future. Opportunity is not repeated twice.

[Lucius]

~snip~
What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

If you're referring to all those altcoins that are sinking, then I don't see how it would be wise to invest in something that has the possibility of disappearing from most of the main CEX - which means that it will be worth (probably) even less than it is the case today. However, if someone wants to take the risk and thinks that the situation will turn in their favor, let them gamble, because altcoins have always been more of a gamble than a serious investment.

In particular, some tokens that have been registered as securities by SEC have been devastated

You ask a question, and at the same time you gave an answer - Bitcoin is not a security for the SEC, and thus it does not go into the same category as all those altcoins you mention. For those who refuse to accept reality all these years, it seems that they will accept it the hard way.

[Rikafip]

What causes this market decline?

SEC pressing centralized exchanges, as simple as that.

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

It is always the the right time to buy, but not few coins and instead only one coin, bitcoin. But even then, I am not suggesting any of my friends to buy anything as I learned it the hard way why its not a smart thing to do, even if you are suggesting people to invest in bitcoin.

[Beparanf]

What causes this market decline?

The fall of the market is caused by traders who feel significant selling pressure due to Robinhood's decision to remove there, matic, and sol. It is assumed that Robinhood stores around $ 1.3 billion in Altcoin and $ 583 million in the form of existence, matic, and soles.

While Coinbase is preparing to fight against SEC by stating that he has no plans to delete tokens that are allegedly considered securities or will not stop his staking services until there are court orders, other US companies such as Robinhood and Grayscale are unable to continue to serve the token.

Another reason came from the decision of the Moody credit rating agency which reduced the coinbase rating from stable to negative.

It’s important to put all the source for all the info you provided so that readers can easily verify the news that you brought up here. I knew that you just summary the news but source is important to make your data legit.

I’m not reading crypto news anymore but I’m surprised how chaotic the US market now the SEC is cracking down Binance and Coinbase at the same time.

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

Buy the dip. This kind of news don’t happened everyday. The market will surely recover and everyone knew that the SEC is just butthurt on crypto.

[dansus021]

yeah I hear the news what a crazy, SEC is somehow always puts crypto like a bad actor.

Liquidation yeah I also hit by that 70$ gone  Gary is shit or I would say the SEC too I mean they should make an rule first before doing something like this What i know a things that considered as security should meet the criteria of Howey test.

But look at this the regulation of crypto is still unclear but Huhhhhhh I done with this kinda of bullshit

[dragonvslinux]

Overall I think this will be good for Bitcoin in the near term while probably getting worse for shitcoins for a while. Bitcoin's dominance now has a realistic reason to increase, as has been the case today breaking above a 2 year range it has been stuck in. While many shitcoins have little to no support right now as they break new lows, Bitcoin instead has a lot of support to the downside, between $20K and $25K.

Soon we will see the natural shift of shitcoin liquidity coming back to Bitcoin, especially when it starts rising again and shitcoins remain stagnant. This will likely be a good remainder of the year for BTC.

[Mate2237]

What SEC too is always on the neck Cryptocurrency related  matters? Mostly they are attacking exchanges, they are trying to show the whole world that they are enemies of crypto. Government is really using them to hunt down exchanges.

Overall I think this will be good for Bitcoin in the near term while probably getting worse for shitcoins for a while. Bitcoin's dominance now has a realistic reason to increase, as has been the case today breaking above a 2 year range it has been stuck in. While many shitcoins have little to no support right now as they break new lows, Bitcoin instead has a lot of support to the downside, between $20K and $25K.

Soon we will see the natural shift of shitcoin liquidity coming back to Bitcoin, especially when it starts rising again and shitcoins remain stagnant. This will likely be a good remainder of the year for BTC.

It is not affecting bitcoin like that because bitcoin is decentralized asset but some of the shitcoins or meme coins are centralized. So they open to attacked either by the government directly or it agencies. The liquidation is always there for bitcoin to move forward and any other altcoins that do well will also follow the trend.

[dragonvslinux]

Overall I think this will be good for Bitcoin in the near term while probably getting worse for shitcoins for a while. Bitcoin's dominance now has a realistic reason to increase, as has been the case today breaking above a 2 year range it has been stuck in. While many shitcoins have little to no support right now as they break new lows, Bitcoin instead has a lot of support to the downside, between $20K and $25K.

Soon we will see the natural shift of shitcoin liquidity coming back to Bitcoin, especially when it starts rising again and shitcoins remain stagnant. This will likely be a good remainder of the year for BTC.

It is not affecting bitcoin like that because bitcoin is decentralized asset but some of the shitcoins or meme coins are centralized. So they open to attacked either by the government directly or it agencies. The liquidation is always there for bitcoin to move forward and any other altcoins that do well will also follow the trend.

While all very true, I think the reason we are seeing Bitcoin correct further (as opposed to move higher) is because speculators are selling crypto right now, and the reality is the majority of it remains altcoins.

So Bitcoin get's "wrapped up" in the selling fever, even if there isn't any logic to it or rational. Fortunately right now Bitcoin is very close (only 1% away) from reclaiming the majority of the crypto market, meaning it should be much less effected by what is happening to the minority of the market. At least in the past with high Bitcoin dominance as a majority, it becomes very unaffected and detached from the rest of the market.

Of course subjectivity this can simply be because Bitcoin is rising while shitcoins are flat or falling, as there is the momentum behind it, but notably this only ever happens when Bitcoin's market dominance is already relatively high at a clear majority. This is more of less the point of the term dominance, because it's based on how dominant Bitcoin is within the market and therefore how unaffected it becomes by it.

[rhomelmabini]

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

Put your portfolio on stables or if you are trading make some short trades. I think DCA and not going all in is the best plan to do considering there is a real uncertainty goin on right now, until there's some clarity on the market I think it's really best to avoid or put them on stables. Alts will surely bleed right now so it's best to buy either Bitcoin, ETH, or stablecoins.

[serjent05]

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

If we see a downtrend of our favorite cryptocurrencies then it is the opportunity to buy them at a discount.  We always talk about DCA and DCA is most effective when the market is in bearish mode.  With the downtrend of these altcoins and Bitcoins, it is our window of opportunity to accumulate more at a discounted price.  So I think we don't need to hesitate.  Buy while the price is at a discount, we don't know when will be the next opportunity so better to take advantage of it now.

[STT]

Deflationary events in the fleshy parts of crypto is not new, this is dollar based regulation which is a regular point of 'interest' over many years.  Central banks arent in conflict exactly but if people step on their turf they will frequently clip the wings of any entity using dollars I think thats not just a crypto thing its anywhere anyone that falls into the targets.  Its obviously important because the dollar is a behemoth in anything finance related but its not new thats governments cast a long shadow over anything within their reach, I only wonder about non dollar stuff some places its a question is anyone allowed to do anything not beneficial to a central entity.   All kinds of tremors are going to occur if a large amount of change occurs, so disruption cant be too unexpected imo.  

[adaseb]

One thing I don't understand is why POW coins like Doge and LTC are suffering. I am assuming there is a chance that in the USA, many ICO tokens such as ADA or MATIC will be deemed securities and they won't be tradeable on BinanceUS or any of the other exchanges located in the USA.

However some coins such as Doge or LTC are dumping also, which are purely POW. So I am assuming its some large fund that got liquidated over the weekend. Their margin hit on MATIC / ADA / SOL and if they were cross collaterated their other alt positions started to dump.

[BenCodie]

Here we go! I predicted at the start of the year that I felt there should be one more "event" that would hit the market and hinder it for a few months. These "re-classifications" of altcoins and the SEC/financial authorities going after the biggest centralized exchanges, and the sell-offs that will ensue, is surely this event. I'm hoping for a short bear period of 3 - 6 months from this point.

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

Time to short or load up the bags for long-term hold! I am not one to hope for the decline of crypto, but I see Bitcoin hitting $9k - $15k again because of reduced liquidity and therefore I see a blood bath for alts. DCA with a reserve of fiat weekly is my strategy. Hoping for continued bloodshed and cheap buys until the next run EOY/during 2024! LFG!

[adaseb]

Maybe alts can lose 90% or ETH is it’s deemed a security but I don’t see BTC going to $9K because who is there to sell really?
Most people got cleaned out during the dump to $15K. And many who bought from the low won’t sell at these prices because they are expecting it to go higher.

Bitcoin will never be deemed a security so it doesn’t have that issue like most of the tokens on exchanges.

[mich]

Well this is not something new to experience crypto bloodshed. We need to be having to expect big losses and not just big gains all the time. This is not how investing in the crypto market works. We have seen the market take away our gains many times before.   

I think if this is a big worry for you then you should not be investing in crypto. We are all here to hodl our coins and it is not going to make us get very rich in a short amount of time. This is not going to happen so just do not look at your wallets if this makes you worry so much.

[Freddie Boyer]

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

The crypto market has experienced a drastic decline in recent days due to several things, namely the Binanace and Coinbase disputes that are still ongoing with the SEC to this day, coupled with Robinhood's decision to remove ADA, MATIC and SOl, causing the market to fall all red. answer your question above my view. If one market is missing for and there is another market that holds the same coin. yes. this is the right time to enter the market.

[AbuBhakar]

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

The crypto market has experienced a drastic decline in recent days due to several things, namely the Binanace and Coinbase disputes that are still ongoing with the SEC to this day, coupled with Robinhood's decision to remove ADA, MATIC and SOl, causing the market to fall all red. answer your question above my view. If one market is missing for and there is another market that holds the same coin. yes. this is the right time to enter the market.

You’re just repeating what his exact explanation on his OP if you read all the content and not the question alone. This news is pure manipulation since we all knew that SEC is currently attacking exchanges and some crypto but crypto people should note that the US branch is not the major contributors for the crypto market while those selling off are those people that doesn’t have any idea on what’s happening.

It right that buying when everyone is on panic is the right thing to do because the price will eventually pump once this issue is over or the case is running since this will take time on the court.

[libert19]

What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?

Indeed, I think so. But, it's kind of rare to have capital in times like this. I'm into crypto since years yet by the times like current bloodbath, I tend to be out of money to invest, lol.

Halving is coming close, and I didn't expect market to be dumped like this, also learned that spot purchase is better than leverage, my several longs got liquidated despite using only 2/3x leverage and having lower entry prices except ethereum. Thought, I would close my positions during bull run but here comes the SEC.