I checked the Bitcoin price and did not find a decrease. What is happening is a natural price movement, perhaps due to panic or panic, but the price is in its normal place.
The value of BNB decreased by more than 22%, which is a large percentage, but its price is in the hands of binance, they can burn a lot of it and the price will return again. the reaction of binance and the subsequent steps that it will take are what will determine the future of this currency.
I advise you to stay away from it for the time being and see how the company will act.
Bitcoin's price has certainly fallen but not as much as other coins, it's currently ranging between $25,000 and $25,800, while it used to be over $28,000. From my point of view, its fall isn't that significant or worrying, Bitcoin is currently the least of my worries, it wouldn't go down just because SEC is after cryptocurrencies.
Well, XRP is still battling against them and their value has not depreciated that much. As long as there are supporters, they will surely keep on living. But the effect that it will bring to the market though should not be ignored.
BNB, I always think this coin is one of the strongest there is next to Bitcoin and Ethereum so I highly doubt that whoever in the government is trying to topple it will be successful. We also know CZ will fight this no matter what.
There had been a big movement and I think those are the investors who expected the price to go down so they liquidate their investments. But they will be back, that I am sure. It's not like BNB is a trash coin that will just be forgotten after a sell-off, maybe they just want their funds secured or make money out of this movement until everything is cleared again. It's a good strategy for those who are storing a lot of the said coin but when they will come back is another question, perhaps when we see some light at the end of the tunnel or before this issue is resolved. SEC is good at shaking the crypto market, that's all they can do when they get bored.
XRP is a complicated matter, it still hasn't resolved its previous issues and is now facing another challenge. I wouldn't be surprised if it ultimately losses the battle. BNB isn't a trash coin but as we've already noticed, all coins are subject to volatility when such issues arise.
I don't consider BNB to be in a free fall. Last year it went down to $200 and found good support there. If you look at the chart, you will see that this is a serious support level and it has been tested many times since early 2021. Consequently, if the price does not fall below $200, then there is no serious reason to worry and it is just a prolonged correction. If the price drops below $200, it will mean a free fall down to levels no one knows about. You are too early to panic, nothing bad has happened yet.
Well, maybe not yet, but personally seeing it drop like a stone from $300 to $230, then it's a great difference if you ask me. There are a few so-called analysts claiming that BNB might be susceptible to fall below $200, which would be disastrous and would cause a huge selloff.
