SEC lawsuit caused massive market crash

[gurunanakji777]

Yes, Last week, there was a significant market crash, but for the past 3 days, the market has been showing positive signs. However, it is uncertain whether this upward trend will be sustained or if it is merely a temporary situation to deceive buyers. It is well known that whenever the SEC takes any action, it negatively impacts the market. In addition to the significant impact of the Binance lawsuit, other coins that have been labeled as securities by the SEC have also experienced substantial drops. Nevertheless, I have observed that the effects lasted only for a period of 5-7 days, and now the market is recovering once again. However, investors will now likely pay closer attention to BTC and Ethereum due to the SEC's actions.

[Yaunfitda]

Yes, Last week, there was a significant market crash, but for the past 3 days, the market has been showing positive signs. However, it is uncertain whether this upward trend will be sustained or if it is merely a temporary situation to deceive buyers. It is well known that whenever the SEC takes any action, it negatively impacts the market. In addition to the significant impact of the Binance lawsuit, other coins that have been labeled as securities by the SEC have also experienced substantial drops. Nevertheless, I have observed that the effects lasted only for a period of 5-7 days, and now the market is recovering once again. However, investors will now likely pay closer attention to BTC and Ethereum due to the SEC's actions.

And we have seen that there are no crashed though, sure bitcoin goes below $26k and other altcoins suffered, but look at where the price right now as we have a instant rally in the last 48 hours.

And for sure the SEC lawsuit is not being forgotten, we might just have to wait for the result and see how it goes. But as far as the market is, there is no longer that lingering effect. And that's how the market is, sometimes there are negative news that will bring down the market but after several days when everything has settled down, we will be on the road to recovery.

[jacafbiz]

I think everyone has their price if the SEC chairman is doing the bidding of the power to be just to let them get in at a lower price. The level of corruption at government agencies is of the highest order. I read somewhere that he was after Binance because the chairman was overlooked for an advisory position at the exchange and also CoinBase CEO said the SEC chairman placed a short position before making those stupid announcements that crashed the market. If not that journalism has been bought, this would have been a career-ending allegation, but the media are helping him blow his trumpet.

[Argoo]

I think everyone has their price if the SEC chairman is doing the bidding of the power to be just to let them get in at a lower price. The level of corruption at government agencies is of the highest order. I read somewhere that he was after Binance because the chairman was overlooked for an advisory position at the exchange and also CoinBase CEO said the SEC chairman placed a short position before making those stupid announcements that crashed the market. If not that journalism has been bought, this would have been a career-ending allegation, but the media are helping him blow his trumpet.

These are serious allegations against the head of the SEC. If this information has become public, then the US Congress or other competent authorities should appoint an appropriate check and conduct an objective investigation.
But, in any case, over the past week, the price of bitcoin has already increased by more than 20 percent, and ethereum by more than 16 percent. The cryptocurrency market is recovering well. We expect the trend to continue.

[Psynthax]

I think there will be following up of these series of crashes in the future, such a good time to make entry for those that have the capitals.
though it's unclear in regard of cryptocurrency fates in general, maybe things will get worse instead, since the results are still unknown.

[Abiky]

These are serious allegations against the head of the SEC. If this information has become public, then the US Congress or other competent authorities should appoint an appropriate check and conduct an objective investigation.
But, in any case, over the past week, the price of bitcoin has already increased by more than 20 percent, and ethereum by more than 16 percent. The cryptocurrency market is recovering well. We expect the trend to continue.

BTC saw a temporary surge in market prices because of the Blackrock ETF filing and the creation of a new crypto exchange backed by prominent financial companies. I'm afraid things will head back to the way they were before the pump because of the SEC's aggresive stance against crypto. The real deal would be the upcoming BTC halving of April 2024. Market prices will increase due to the hype (aside from that fact that BTC will become scarcer).

I don't think SEC chairman Gary Gensler will be able to "survive" after a change of government in 2025. If he's removed from office, crypto exchanges in the US will be relieved. Globally-speaking, this should have a positive effect over market prices in the short-term. Who knows if we'll see the light at the end of the tunnel soon? Just my opinion

[Xal0lex]

The criminal case is already a measure of last resort. Judging by how quickly Binance and SEC managed to agree, there was not such a serious situation, which could lead to such a sad outcome, as a criminal case or even the arrest of CZ. I'm more inclined to believe that it's all the usual market manipulation and FUD, and the situation itself is much less dramatic than various media are trying to describe it in the information field.

I'm pleasantly surprised to see the SEC and Binance come to an agreement. I was expecting the whole incident to be a lot more serious, which sheds doubts on how serious the confict actually a larger plan to plan to manipulate the market and/or hurt cryptocurrencies and analyze at what degree they were affected.

It's too early to talk about any kind of agreement, because things can still go on. Binance has filed a lawsuit against the SEC, hired lawyers, and the fight is just beginning. The SEC may not be on the defensive in this fight either, but they will also attack, filing counter-suits and new charges that will be uncovered during the investigation. This could all drag on for years, like the Ripple situation, so I wouldn't jump to the conclusion that they have come to some kind of agreement.