The cryptocurrency market, in reality, is one of the most manipulative! Objectively, you will not find the real reasons for the mega-growth or mega-fall of cryptocurrencies, there will only be a reaction to manipulation, but there will be no connection with real independent events. Therefore, you should not be upset about a drawdown if you did not manage to fix your crypto assets in stable values, a period will pass and there will be an increase again... And again a fall. And so it will be, except for the case of recognition of the crypt as a currency and / or its replacement asset
Yeah crypto market is rather unregulated, quite different compared to other market, even other commodity market usually getting intervened by the government if things got out of control but that's also the beauty of crypto
anything could happen whether it's good or bad, so always be prepared for worst case scenario, also if there's concentrated capital or coin posession, there'll also be a manipulation, it's just how it is.
Maybe if someone wants manipulation free market, they should wait CBDC but that's also actually gonna be manipulated by the government as well.
I'll start with the final part of the answer. CBDC, whether you like it or not, is a CENTRALIZED system that will use technologies / solutions from the world of "free blockchain" to some extent. In fact, it will be a more technologically advanced non-cash currency, of which there is already a lot, but the technology is still from the 60s of the last century. CBDC will not give recognition to independent cryptocurrencies and will not change their positioning in the market.
Now about the manipulation of the state. I agree - the state, for the sake of its interests, will "play" with its currency. BUT, I know for sure that the state will not swing x20 waves and then fall in the same x20, and so on a regular basis. At least because it is not profitable, secondly, which central bank and government will quickly send to "retire"
