Topic: Another Fud or Its Reality? BTC is Down Again (Read 375 times)
The SEC's actions are repeated, and there is a lot of their involvement in various legal cases in the crypto industry. So for investors with significant amounts of capital at stake, news of legal actions against a major exchange can really be a cause for concern and can cause them to panic. reassess the safety of its investments. But really, it's not a big deal because there have been many times like this in the past, and after that, there was an amazing recovery. Let's wait for the possibility that BTC will return to the price of $30 in the near future.
It's rare that I consider price movement to be market manipulation, but with news events like this that no doubt some speculators were aware was going to happen, and now the quick reversal back to the upside, it's hard to consider the likelihood that bears tried to push the price lower, but when the low of $25.5K was reached and they were unable to push prices lower, they instead look long positions back to the upside.
Thanks for this insight, the last time I saw the price is around $25,700 and I was flabbergasted to see the price hitting $27k. So clearly there is manipulation behind by whales to pushed the price lower, maybe $25k flat.But it didn't come, there could be speculators selling or noobs who think that the price will go down hard and then it's time for this manipulators or those who speculators to buy at a cheap price again because of this FUD.
Bitcoin has faced many challenges throughout its existence and has shown resilience in overcoming them. The price of Bitcoin has experienced volatility before various events and news in the past, but it has also proven resilient and reached new heights. While the SEC's lawsuit against Binance may not have an immediate and significant impact on the price of Bitcoin, it's worth considering that the crypto market can be affected by many factors beyond crashes. relating to individual exchanges Market sentiment, regulatory developments, economic conditions, and investor behavior all play a role in shaping the price of cryptocurrencies. As an investor, beware of news like this.
As many of you, must have heard the news of SEC sues Binance and its CEO Changpeng Zhao.
Hmm, I got a small glimpse of this scenario that day and then totally ignored it by just moving a few funds from there, I knew that the market will pretend to fall freely but after reading all of your compositions dear I think this is not at all related to the Bitcoin as a user on page 1 said: "CZ is not the CEO of BTC and BTC is not a community".For the rest of the things market already made a decent recovery in the last few hours and coming back straight up to the $27K. So be patient we are on a good ride.
Markets are influenced not only by events and news but also by sentiments and perceptions. News of the regulatory issues surrounding Binance and its CEO CZ, can certainly cause concern and impact market behavior, especially for new entrants and individuals. risk averse. Look at how Binance has faced regulatory challenges in the past and has managed to overcome them, continuing to grow and maintain its position as a leading cryptocurrency exchange. CZ has demonstrated resourcefulness in finding ways to meet the needs of US customers while striving to comply with regulations. The interpretation of whether the current situation is Fear, Uncertainty, and Doubt (FUD) or a legitimate concern can vary between individuals. While the short-term impact of current events may be noticeable, this should not have much of an impact on the long-term development of the market.
With the current bart-pattern forming on short-term time-frames, it's starting to look like whales have somewhat manipulated the market/situation right now.
The FUD was designed to encourage shorts with sellers getting out of positions below $26K, but then buyers stepped in and we are now at the short squeeze level, whereby price going higher will likely liquidate a lot of short-term short positions who were targeting lower levels. The fact that Coinbase was served a lawsuit today from the SEC and price has risen, should show how bullish the market remains right now.
It's rare that I consider price movement to be market manipulation, but with news events like this that no doubt some speculators were aware was going to happen, and now the quick reversal back to the upside, it's hard to consider the likelihood that bears tried to push the price lower, but when the low of $25.5K was reached and they were unable to push prices lower, they instead look long positions back to the upside.
The FUD was designed to encourage shorts with sellers getting out of positions below $26K, but then buyers stepped in and we are now at the short squeeze level, whereby price going higher will likely liquidate a lot of short-term short positions who were targeting lower levels. The fact that Coinbase was served a lawsuit today from the SEC and price has risen, should show how bullish the market remains right now.
It's rare that I consider price movement to be market manipulation, but with news events like this that no doubt some speculators were aware was going to happen, and now the quick reversal back to the upside, it's hard to consider the likelihood that bears tried to push the price lower, but when the low of $25.5K was reached and they were unable to push prices lower, they instead look long positions back to the upside.
The reports regarding the SEC and Binance have been confirmed to be accurate. The fear, uncertainty, and doubt (FUD) surrounding this news have indeed resulted in a significant decline in the entire cryptocurrency market. Allow me to elaborate on the concept of FUD. It stands for "Fear, Uncertainty, and Doubt" and is commonly used to describe a situation where negative information or rumors cause individuals to become anxious about potential losses. As a result of the SEC's negative announcement, many holders in the market began to panic, fearing financial setbacks. Consequently, a wave of selling emerged, causing the market to turn red and further escalating people's concerns. This led to a massive sell-off and ultimately a market crash. Therefore, it is evident that FUD has influenced people's decisions to sell their holdings.
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.
The Binance and SEC cases may end up in court, but crypto trading will continue even without Binance. I can't argue that maybe the US pushed a lot of thought into Binance putting its plans into action on CBDC. But the downside to this case is that the SEC has been seen as against crypto as a whole, not against Binance.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.
I will ignore this FUD as much as possible and stick to a long term investment plan in bitcoin. It doesn't matter if this case impacts the bitcoin price in the short term, I'm just sure that the price will recover soon.
Yes i wouldn't worry. Its more so Binance being negligent and skirting regulations purposefully. An being caught on both of us red handed technically. Again like one user before mentioned its going to be hard to defend against most of the factual accusations. Binance pockets are so deep they will likely fight it tooth and nail and end up paying a hefty fine and will be more regulated and transparent. Which will be good for crypto also.
Of course, having a popular crypto exchange like Binance sued by regulators can actually have a significant impact on the market, especially considering its status as a crypto exchange's largest element in terms of mass. Bitcoin has faced many challenges and negative events throughout its history, but it has shown resilience during and after market downturns. The decentralized nature, limited supply, and global recognition of Bitcoin have all contributed to its resilience under adverse circumstances in the past. So don't worry too much about this.
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.
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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?
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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