Another reason why investing in bitcoin remain the safest option out there..

[Fivestar4everMVP]

No long talks, that's Rave token from RaveDAO, one of the best performers in the whole of the cryptocurrency market in recent times, it took approximately 15 days for this token to go from less than a dollar to over $28, this is a token I was watching and was even regretting I missed the pump, I had it on my watchlist cus I was waiting for the price to drop a bit so I could invest, but lo and behold....

In a moment, it came crashing down, what took approximately 15 days to build took only about 2 hours to destroy, price is below $1 again and the team behind the project are being accused of manipulating the token but they denied the allegations saying they have no hand in what happened to the price of the token..

What ever happened, investors have lot really big money, over $6.6 billion dollars wiped out from a market cap in less then 3 hours..

Is there anything that could ever happen in the crypto market that will lead to this type of effect on the price of Bitcoin?

[Frankolala]

It's funny to accuse a thief of stealing and expect him to accept that he's a thief when there's no evidence to prove it. Did they expect the dev of this shitcoin to accept that he pump and dump his bags on investors. This is not new to me anymore or to investors in the cryptospace. This is why I don't advise anyone to invest on shitcoins but bitcoin because it's decentralized and has proven to be a store of value overtime.

[Agbamoni]

People should stop investing in coins without a proper use case. What is this RaveDAO all about?. The use case to me doesnt make sense at all.
Once again, many have fallen for another altcoin scam. They will never listen, no matter how the news of the altcoin scam is spreading every day.
Anyone who wants to be a trader, taking advantage of the pump and dump, should be prepared for the pain that comes when they fall into the trap.

[Fivestar4everMVP]

It's funny to accuse a thief of stealing and expect him to accept that he's a thief when there's no evidence to prove it. Did they expect the dev of this shitcoin to accept that he pump and dump his bags on investors. This is not new to me anymore or to investors in the cryptospace. This is why I don't advise anyone to invest on shitcoins but bitcoin because it's decentralized and has proven to be a store of value overtime.

I tried to follow up on this issue and some person's are actually posting some evidence that proves the team spend over $75k to create and fund over 10k wallet with less than $10 worth of rave token on each of those wallets so they get listed on top exchanges which includes Binance, coinbase  ans one other exchange I forget it's name, this is said to be one of the major criterias for this top exchanges to accept and list any token, now after getting the token listed and the price skyrocket from <$1 to  >$28, the team dumped on their investors..
The team is still saying they didn't do any of this that they are being accused wrongly..

Right now, Binance, coinbase and the other top exchange involved in the case are currently investigating the claim and if they discover that the team really did this, the token might get delisted from this exchanges which could lead to more loses for investors.. It's really sad.

[Joy- maker]

This is exactly why I don't invest my hard earned money in shitcoins or tokens. The majority of them can be easily manipulated because they are centralized. I rather accumulate Bitcoin consistently using the DCA method with my discretionary income and hold for long term for my own peace of mind. Because Bitcoin has already proven itself as a store of value with strong potential returns, so there is nothing to worry about as long as you are committed to long term strategy, not short term.

[Churchillvv]

Perfect rug pull!! There is literally no excuse for what happened it’s the real pump and dump scam that we all know, I also have a token or coin I was watching some time ago, I sent it to my friends to watch with me and let’s make a decision to dive or let it go, I think it was the trump coin or mega coin something of that, with from 0.92$ as at the time I was watching to 12$ I didn’t get to buy because of my deposit wasn’t going through at that moment just for me to go back and it’s has gone down in less than 24 hours to nothing, this one above op is quiet very fast and investigation will be conducted and it will be nothing more than teenagers or few kids manipulating the market.

[Ambatman]

I pity person wey FOMO go affect wey e enter high
Imagine how dem go feel once dem come online
I experienced the same the with RNDR then when FTX bankrupt
I put buy limit and I nor put stop loss
And boom my eye red when u wake up
I nearly mad
Long story short nap bitcoin I dey only do now.

[Sticky Bomb]

Is there anything that could ever happen in the crypto market that will lead to this type of effect on the price of Bitcoin?

This is not possible because bitcoin is decentralized and there is no team that can crash it single-handedly, unless all major holders come together and decide to dump their coins at once which has very slim chance of happening. Bitcoin is not a meme coin or shitcoin that can be rug-pulled anytime and that makes it the best shot for a digital asset. Bitcoin has existed for 17 years now and have continued to grow over the years which makes it a valuable asset as against the meme coin you mentioned that did not last up to 3 weeks before being rug-pulled and its investors scammed and lost good funds. Anyone that puts money in meme coins or shit coins of any sort should already know that they're gambling with their funds, they should expect the worst anytime.

[Felicity_Tide]

and the team behind the project are being accused of manipulating the token but they denied the allegations saying they have no hand in what happened to the price of the token..

Of course, what do you expect them to say?. I guess the price just dropped on its own.
A massive climb to $23 is enough reason to get scared and doubt that project. With this recent decline, I'm very sure that the developers and other parties that partake in dumping, won't bother revisiting the project. It's likely to be another failed projects that made it to the list of failed crypto projects.

Is there anything that could ever happen in the crypto market that will lead to this type of effect on the price of Bitcoin?

I doubt...
So far, I think Trump has been the worst thing to happen to Bitcoin, or did I miss anything?. I think anything worse than Trump Is certainly going to be a disaster in terms of price. Bitcoin isn't some random memecoins, if has come a long way,.so we are likely never going to see such disgraceful crash.

[Zaguru12]

I pity person wey FOMO go affect wey e enter high
Imagine how dem go feel once dem come online
I experienced the same the with RNDR then when FTX bankrupt
I put buy limit and I nor put stop loss
And boom my eye red when u wake up
I nearly mad
Long story short nap bitcoin I dey only do now.

They were many who actually fell into the trap oo. I could remember seeing it on X and many FOMO most especially when the price reached $15 many were calling for $50 then similar to the trump coin.

But same way Many actually got profit off it while trading and also losses were there. Imagine shorting this asset from $21 which the crime dump happened from.

[Samlucky O]

No long talks, that's Rave token from RaveDAO, one of the best performers in the whole of the cryptocurrency market in recent times, it took approximately 15 days for this token to go from less than a dollar to over $28, this is a token I was watching and was even regretting I missed the pump, I had it on my watchlist cus I was waiting for the price to drop a bit so I could invest, but lo and behold....

invest or gamble if i may ask? the right word to use i think its gamble because shitcoin are not classified under the categories of investment since they have no potential for long time value or usage. i hope you are not regretting any longer now you have seen the outcome of 15 days growth. that is why we should always think about bitcoin when we think about investment.

In a moment, it came crashing down, what took approximately 15 days to build took only about 2 hours to destroy, price is below $1 again and the team behind the project are being accused of manipulating the token but they denied the allegations saying they have no hand in what happened to the price of the token..

this is very funny though, Rome they said was not built a day or even 15 days, this is to tell you that nothing good come so easy. the warning sign was there but greed will not allow people to use their right senses. this is another pump and dump rugpul scam. i have seen this type of project. the funny part about some of this type of coin is that you may not be able to sell it after purchased. you will see your money trapped and going down in your present.

Is there anything that could ever happen in the crypto market that will lead to this type of effect on the price of Bitcoin?

no...! you cant compare a weapon made of metal and and a plastic rubber, both may look fine but cant withstand the same melting point.

[Rhow]

Ups and downs in the cryptocurrency market are a very common occurrence. In case of bitcoin if there is a big drop in price, it does not last long. But small projects or token can easily make investors poor. If we review the past, we will see many such information where the crash of some tokens or projects had a negative impact on the entire market.

At the beginning of Covid-19, there was a big drop in the price of Bitcoin. In addition, in 2022, there was a big long-term fall in the market through the Luna crash. The FTX Collapse also happened in that year, which kept the entire crypto in a long-term bearish trend. Basically, all these projects initially scam the general public and later make all investors beggars.

Such a situation is very common for altcoins in the long journey of the crypto market. We have to face such incidents every few years, but nothing like this has happened with Bitcoin. Even though there is a big crash of altcoins in the market, it does not have a long-term impact on Bitcoin. It is better to hold Bitcoin for the long term than to risk all investments in small tokens hoping for big profits.

[Showlove01]

This is exactly why I don't invest my hard earned money in shitcoins or tokens. The majority of them can be easily manipulated because they are centralized. I rather accumulate Bitcoin consistently using the DCA method with my discretionary income and hold for long term for my own peace of mind. Because Bitcoin has already proven itself as a store of value with strong potential returns, so there is nothing to worry about as long as you are committed to long term strategy, not short term.

In as much as i would love to take your opinion I will also like you to know that this so called shitcoin has alleviated so many people from poverty I mean has made them wealthy and rich buy purchasing it but the issue here is that people don't actually know which one will give the money they are expecting. The funny thing about shitcoin is that you can get rich overnight while the sad thing is that someone can also go bankrupt or become poor or even commit suicide over that same night especially if you are not checking your trade or investment so it's not always bad there is also an atom of good you know. But Bitcoin still remains the best of them all.

[Salahmu]

No long talks, that's Rave token from RaveDAO, one of the best performers in the whole of the cryptocurrency market in recent times, it took approximately 15 days for this token to go from less than a dollar to over $28, this is a token I was watching and was even regretting I missed the pump, I had it on my watchlist cus I was waiting for the price to drop a bit so I could invest, but lo and behold....

In a moment, it came crashing down, what took approximately 15 days to build took only about 2 hours to destroy, price is below $1 again and the team behind the project are being accused of manipulating the token but they denied the allegations saying they have no hand in what happened to the price of the token..

Even if the team were the ones who crashed it they will definitely blame the nature of market and in fact citing other tokens who also lost the same value to show they new nothing about it. You get luck say you been just put the token on your watchlist but have not fully started buying it if not this token could have also taking your money. For this RaveDAO token to fall from $28 all-time high to a dollar cent that would be the last time it could rise to that because this RaveDAO dump is definitely not over because it could fall till people will see this price as something that's even high. A lot of people years of suffering has also ended on this token.

[Btcdeybodi]

Investing in a digital asset that doesn't have its own native blockchain is the highest risk in crypto. If it were to be a coin, i would have said it can be trusted somehow but for a token it's a no go area. If you have fallen into these scam tokens you will really appreciate bitcoin a lot because the crypto industry have been corrupted with many tokens and coins that doesn't have any future. What the developers does is to pump the coin with their own money and if you are the type that monitors the market to see the ones that are performing greatly that is how the project owners are also targeting those who are buying and as soon as they have realized a credible amount of profits they liquidate the market and the coin drops almost instantly.

One thing i discovered is that when these pump and dump coins are falling drastically, it takes a lot of time to convert to a stable coin especially when you are performing a direct trade. I appreciate bitcoin a lot because no matter the height of liquidation, the market will not fall to zero and when it falls, there is still high possibility of it rising high again even above the price it got liquidated.

[SatoPrincess]

Everybody know say bitcoin na baba so you go ask yourself say who come dey buy all these shitcoins abi them no know say bitcoin dey exist. Them know but the kind money them dey find, bitcoin no go fit give them na why them prefer to risk their money for projects way no sure. E just be like gambling, sometimes e dey work for them sometimes e dey purge.

[Dr.Bitcoin_Strange]

Over the years, there have been several coins with this kind of price manipulation, sometimes the coin that have been maintaining a particular price for a long time will just dump, it happened with luna, Trump token and others that I can't remember. Even if there's a big economic problem, I doubt it will drop Bitcoin price to $1, it's not just possible.

[Rgram]

No long talks, that's Rave token from RaveDAO, one of the best performers in the whole of the cryptocurrency market in recent times, it took approximately 15 days for this token to go from less than a dollar to over $28, this is a token I was watching and was even regretting I missed the pump, I had it on my watchlist cus I was waiting for the price to drop a bit so I could invest, but lo and behold....

In a moment, it came crashing down, what took approximately 15 days to build took only about 2 hours to destroy, price is below $1 again and the team behind the project are being accused of manipulating the token but they denied the allegations saying they have no hand in what happened to the price of the token..

Nothing this people wan tell me, them don manipulate this thing. Else, how come say watin take several days to reach $28 go just dump below $1 in 2hours. I no really see the kind event way go happen in the cryptospace to warrant that kind dump, even if investors decide to take profit. A high performing token na token way be say, them for still Dey expect am to pump again but, dumping the coin to below $1, that one na coin way no go ever rise again o. Investors would have lost all hope in this coin as e be so.

Na this kind thing investors Dey get when the team behind the project just Dey after money and no really get any better plans or roadmap for the project.

[Cryptoprincess101]

Is there anything that could ever happen in the crypto market that will lead to this type of effect on the price of Bitcoin?

Good question, there is nothing that will happen that will cause bitcoin to fall even to $100 not to talk of $1, even if Satoshi like let him withdraw the 1 million bitcoins in his wallet the price won't fall to $1. The possibility of bitcoins price falling to $1 will depend on all bitcoin investors to liquidate the market and everything crash but it is not possible because there are people who will still have confidence that the market will recover even if it has fallen drastically and imagine if you invested about $100,000 and it falls to like $1000, will you sell the $1000? so what am trying to say is that many people will still hold their bitcoins no matter how intense the DIP is. And another thing is that even if the price of bitcoin will fall flat, it will take days and not few hours as all these tokens and altcoins does.

[Silverstonez]

This is exactly why I don't invest my hard earned money in shitcoins or tokens. The majority of them can be easily manipulated because they are centralized. I rather accumulate Bitcoin consistently using the DCA method with my discretionary income and hold for long term for my own peace of mind. Because Bitcoin has already proven itself as a store of value with strong potential returns, so there is nothing to worry about as long as you are committed to long term strategy, not short term.

In as much as i would love to take your opinion I will also like you to know that this so called shitcoin has alleviated so many people from poverty I mean has made them wealthy and rich buy purchasing it but the issue here is that people don't actually know which one will give the money they are expecting. The funny thing about shitcoin is that you can get rich overnight while the sad thing is that someone can also go bankrupt or become poor or even commit suicide over that same night especially if you are not checking your trade or investment so it's not always bad there is also an atom of good you know. But Bitcoin still remains the best of them all.

it is not necessary that you must go with joy- maker's opinion, the dude just said things the way he felt he should say them and i respect his opinion. I also agree with you that there are shitcoins that have made people millions and billions of dollars no doubts, but i rather invest my money in bitcoin that has already proven itself as a store of value with strong potential returns. Than put my money in shitcoins that can easily be manipulated, just the way the token on the op was manipulated. I know  the op will be imaginng right now that assuming he invested his money in that token seen he said he was watching the token. He could have be begging his gods to get back just his capital.