Crypto experienced bloodshed

[royalfestus]

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.

Sometimes I find it challenging when exchanges break certain rules regarding security tokens. It makes me wonder whether the exchanges truly understand what security tokens are, or if the projects themselves deviate from the initial path they set out on.

[CageMabok]

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.

Binanace and Coinbase's dispute with the SEC was a factor in why large numbers of traders shifted their assets into their own wallets for security reasons. Likewise with investors who began to hold back their intention to invest again when they saw the dispute because they thought there would definitely be chaos in the market, especially at the price of Bitcoin. So that altcoins will also experience the same thing, namely price reductions that occur simultaneously even though the amount of decline is still no bigger than last year. But that could be the main reason why Bitcoin price doesn't get better in the market.

[fzkto]

I think back to March 2020 when the whole market was falling even harder than it is now, but many coin prices are back to those levels. I believe that this bloodbath could be the end for the bear market and an upturn could start soon. Usually people sell in large volumes because of fear, which is what happened this week. It will take some time to recover, but I think there will be an uptrend next.

[reagansimms]

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.

Binanace and Coinbase's dispute with the SEC was a factor in why large numbers of traders shifted their assets into their own wallets for security reasons. Likewise with investors who began to hold back their intention to invest again when they saw the dispute because they thought there would definitely be chaos in the market, especially at the price of Bitcoin. So that altcoins will also experience the same thing, namely price reductions that occur simultaneously even though the amount of decline is still no bigger than last year. But that could be the main reason why Bitcoin price doesn't get better in the market.

Chaos in the market has become increasingly visible since Binance and Coinbase were sued by the SEC. Although the decline in price cannot be fully attributed to the cases that happened to Binance and Coinbase, but the negative sentiment that has occurred in the crypto market is strongly suspected of being the cause. Investors need to be firm about this incident, they must not trust the Exchange to store their assets there. I will refrain from entering the market in the next few days, when the crypto market is under control or there is a slight increase, I will return to making transactions by buying gradually.

[aylabadia05]

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?

Closely related to the condition of the current decline in coin prices on the market due to the events of binance and the SEC.
People who carry out trading activities are worried that the problems that are currently facing binance continue to be spread.
Buying altcoins wouldn't make me say the right thing to do, but buying Bitcoins in this situation is the right move because Bitcoin has certainty compared to altcoins.

The benefit or advantage behind the Binance and SEC dispute is that I feel the Bitcoin following will increase further and the level of trust in centralized exchanges will be even more questionable.
In general the situation is good enough to switch to coins that have certainty.

[edward500]

Does anyone know if there is a chance that the USA government will ban crypto or not allow any exchanges to sell bitcoin?

[aoluain]

Does anyone know if there is a chance that the USA government will ban crypto or not allow any exchanges to sell bitcoin?

Personally and for all pure Bitcoiners, it doesnt matter what the US government do
in relation to cryptos/securities/altcoins because Bitcoin is the most important, it is
truly decentralised. Each altcoin can be manipulated by a handful of people and as
Lucius posted earlier in this thread, many people have been warning of the dangers
of investing in altcoins for a long time and the fact that a lot have been decimated because
of the recent SEC news just proves the volatility of them.

..... is it now the right time to buy a few coins?

Absolutely, now is the right time to buy some _Bitcoins

[ningrum]

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.

In Bear season, bad news always comes again and again. I've experienced it a lot since 2018 and now it's 2023,
but when bad news comes, of course the opportunity to buy crypto currency at low prices is very open,
so I always use that opportunity well.

[Lamkuthang]

Does anyone know if there is a chance that the USA government will ban crypto or not allow any exchanges to sell bitcoin?

Regarding the possibility of the US government banning cryptocurrencies or exchanges from selling Bitcoins, there is no firm guarantee as to what policy will be taken in the future. However, there are currently no clear signs of such a ban. The US government has focused on regulatory and oversight efforts to ensure compliance and safety in the use of cryptocurrencies.

[zaim7413]

Does anyone know if there is a chance that the USA government will ban crypto or not allow any exchanges to sell bitcoin?

The USA government can do anything including banning crypto or closing doors on bitcoins in their country if supported by a law that has been passed in parliament. Government bans will not make citizens comply with government policies when it comes to crypto assets, after Bitcoin has existed in parts of the world for more than 10 years, many USA citizens in particular have been involved in Bitcoin trading. Their conscience has stuck with Bitcoin or other crypto assets, they have gained a lot of profit while plunging into the crypto market. The percentage of crypto asset users in the US is very large, they not only oppose the rules issued by the government, but are willing to go to other countries so they can do something that has been profitable for them so far.

[taufik123]

Closely related to the condition of the current decline in coin prices on the market due to the events of binance and the SEC.
People who carry out trading activities are worried that the problems that are currently facing binance continue to be spread.
Buying altcoins wouldn't make me say the right thing to do, but buying Bitcoins in this situation is the right move because Bitcoin has certainty compared to altcoins.

Actually, the scope of the problem is between binance.us and the SEC, while binance.com should not be affected.
But because of the panic situation that made this problem more exposed, some people started to be affected.
US citizens have also sold some of their asset holdings in binance.us due to the dispute with the SEC.

Buying bitcoin during a market crash like this is indeed a good choice, because Bitcoin is the main coin.
Bitcoin will improve in the long run. But make sure you buy at the right price.

The benefit or advantage behind the Binance and SEC dispute is that I feel the Bitcoin following will increase further and the level of trust in centralized exchanges will be even more questionable.
In general the situation is good enough to switch to coins that have certainty.

The coins that have certainty are certainly the top coins and some new users may come in to buy bitcoin at a lower price like now.

[darewaller]

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.

I agree, this is not a FUD or a form of manipulation because SEC is a legit organization. They won't do these things if the crypto company is following the right protocol. People have different reasons on why they sell nowadays. Maybe some just need money so they will sell whatever the status of the market and there are some who sells after reading the news because they worry that it might cause more dump in the market which seems true and we are feeling the impact now. Just ignore them if you are confident that everything will return to normal.

[bittraffic]

I think binanceUS can't do anything about SEC's case. If they want to freeze the assets then its just it. SEC is out to get the binance.US and just want to run it themselves. Maybe that's when Gensler can becomes an advisor. Gensler hates CZ for bringing FTX to its death while Gensler obviously have close ties to those kids managing the exchange.

But crypto market will not pause its coming bull run all because of this. The Halving will come and coins will be lesser next year.

[imamusma]

I think back to March 2020 when the whole market was falling even harder than it is now, but many coin prices are back to those levels. I believe that this bloodbath could be the end for the bear market and an upturn could start soon. Usually people sell in large volumes because of fear, which is what happened this week. It will take some time to recover, but I think there will be an uptrend next.

Correction of market prices is not a big problem for those who have planned investments for the long term. Let the weak hands lose their assets in a panic while they will soon realize that the whales are far better prepared to make big profits in future by accumulate now.

The impact of the SEC and Binance as well as a number of other things is causing US traders and holders to have to sell their holdings of assets, but I believe that this will only be a short term impact before the market recovers. I'm not surprised about the dump in market cap in June, even if it weren't for the SEC and Binance.

[eaLiTy]

~
I think binanceUS can't do anything about SEC's case. If they want to freeze the assets then its just it. SEC is out to get the binance.US and just want to run it themselves. Maybe that's when Gensler can becomes an advisor. Gensler hates CZ for bringing FTX to its death while Gensler obviously have close ties to those kids managing the exchange.

I never thought on that aspect, Gary Gensler who is the chairperson of SEC is rumored to approach CZ and Binance to be their advisor in 2019 and now he is going after him which means he is taking revenge and there are reports that he was really close with SBF and the general consensus is that the rivalry between CZ and SBF fueled the downfall of FTX.

[GreatArkansas]

With this huge dump, I believe that it is just correct what happened in the first months of this year, you can see that we really made a good pump up to the $30,000 price of Bitcoin.

So for me, this dump will test everything and the majority are altcoins, I can see that altcoins now are the most suffering, some could create a lot of bottoms from here.

[LogitechMouse]

~
What causes this market decline?

You've said it already.
- Centralized exchanges having a problem with the SEC (particularly Binance).
- Robinhood stopping the support from different altcoin such as SOL, ADA, MATIC etc.

I'm not hoping for a positive thing to happen anytime soon, but if that happens then it would be good. On the other hand, I want to see the market to be in downwards movement even more so that I can accumulate more coins at a discounted price.

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?

Downwards movement of cryptocurrency = opportunity for us long term holders.
This is what I always think whenever I want to invest in crypto. I will not say that the market might go down even further after this one, but I guess it's a good time to buy some coins for short term profit, or maybe long term.

Does anyone know if there is a chance that the USA government will ban crypto or not allow any exchanges to sell bitcoin?

I don't see it happening, and in order for that to happen, they need to create a law which states that the USA isn't allowed to use cryptocurrencies. There might be some who are against it, I believe that more are either neutral or pro into Bitcoin.

[YUriy1991]

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.

we are really going through a tough time, and everyone's feelings are the same at least we have to be realistic, this whole situation has put us in a tough position, financially and emotionally. But if we can raise some funds, I don't think it's a bad idea to buy some coins. Yes. The SEC didn't come in time but at least people have thought To avoid inflation by Buying Bitcoin and USDT.

[rat03gopoh]

I do not further measure the actual market interest in the fundamental side of the coins that are disputed here. As for the SEC lawsuit meaning it has depreciated most of the market capital flows which it ascertained from US users, I dunno if they have the opportunity to trade that elsewhere in the future. I only predict the domino effect that will occur from this event, that the global SEC will do the same.

[Nrcewker]

The price drop is surely due to these series of bad news that are spreading all over the world. SEC lawsuit against Binance had played the major role for this price drop. After hearing this news, many have feared that like FTX, Binance might also shut down suddenly anytime. Hence they panicked and sold all their Bitcoins. Now when there are more sell orders then buy orders, the price will automatically drop. Hence we have to just wait for the market to recover and wait for the positive outcomes with full patience.