Market Crash: Why Did Bitcoin, Ethereum, and These Coins Suddenly Drop?
This market is really hard to predict! On Monday, the entire market seemed to have hit the down button, and many coins dropped. Especially the popular ones like BTC, ETH, Sol, XRP, and DOGE all suffered significant declines.
Do you know why?
It is said that many people felt they had made enough profit and started selling coins to cash out, which led to a massive sell-off in the market. In just one hour, 90 million U.S. dollars' worth of positions were liquidated! It was truly frightening.
Moreover, it's not just these major coins; those altcoins and meme coins didn't escape either. Coins like Sol and BNB, which had been performing well, also followed the trend and dropped. DOGE and SHIB were even worse, dropping 6% within an hour!
Some are saying, is the cryptocurrency market about to crash? Actually, no one can say for sure. But just look at those numbers. In the past 24 hours, the entire market liquidated 650 million U.S. dollars' worth of positions, which is not a small amount.
Also, that Mt. Gox exchange made a big move, transferring over 30,000 BTC to two wallets. This immediately caused panic among many investors, with everyone worried that these coins might be sold off.
Now let's talk about macro factors. A new debt stimulus plan came out from China, but investors seem to be skeptical, and the market sentiment changed abruptly. Additionally, inflation in the U.S., unemployment claims, and the Federal Reserve Chair's speeches are all influencing the trend of the crypto market.
However, some analysts are still optimistic about BTC's long-term price. They say that BTC's price might rise to 125,000 U.S. dollars by the end of the year and could even reach 300,000 U.S. dollars in the long run!
Recently, I plan to position myself in a potential coin that is ready to explode; doubling my investment should be quite simple. At the same time, I'm also looking for some potential coins to hold until the end of the year, expecting at least a tenfold increase is not a problem. If you want to keep up, like + leave a comment, and I'll share for free.
