Crypto experienced bloodshed - page 5.

Lamkuthang

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Quote from: edward500 on June 11, 2023, 07:19:56 AM

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.

ningrum

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Quote from: Freddie Boyer on June 11, 2023, 12:28:11 AM

Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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.

aoluain

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Quote from: edward500 on June 11, 2023, 07:19:56 AM

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.

Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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

Absolutely, now is the right time to buy some _Bitcoins

edward500

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

aylabadia05

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Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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.

reagansimms

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Quote from: CageMabok on June 11, 2023, 04:26:09 AM

Quote from: Freddie Boyer on June 11, 2023, 12:28:11 AM

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.

fzkto

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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.

CageMabok

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Quote from: Freddie Boyer on June 11, 2023, 12:28:11 AM

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.

royalfestus

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Quote from: adaseb on June 10, 2023, 07:15:24 PM

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.

libert19

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Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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.

AbuBhakar

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🇵🇭

Quote from: Freddie Boyer on June 11, 2023, 12:28:11 AM

Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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.

Freddie Boyer

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Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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.

mich

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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.

adaseb

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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.

BenCodie

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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.

Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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

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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.

STT

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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.

serjent05

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Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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.

rhomelmabini

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Quote from: ndutndut on June 10, 2023, 08:05:25 AM

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.

dragonvslinux

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Quote from: Mate2237 on June 10, 2023, 11:57:31 AM

Quote from: dragonvslinux on June 10, 2023, 11:40:54 AM

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.

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