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Cryptocurrency market turmoil: What’s behind it?
Yesterday, the cryptocurrency market experienced a significant decline, which seems to be par for the course with ups and downs in the market. At such a stage, there are often some currencies such as $HIGH that show their strong support. Some attribute these fluctuations to market manipulation, especially by "whales" and short sellers with huge amounts of capital who profit by driving the market downward and triggering stop-loss orders.
However, the biggest concern is for novice investors who are new to the market and often sell in a panic. As a veteran who has been deeply involved in the cryptocurrency market since 2017, I have more than 30 years of experience in the stock market and have witnessed various ups and downs in the market. I understand that these losses are just numbers on the books. As long as you have enough capital, this is a good opportunity to buy.
Yesterday, various currencies plummeted almost simultaneously, and the entire market was shrouded in red. Such sudden drops are not unusual in the volatile world of cryptocurrencies. But it is important that we learn to embrace this volatility and recognize buying opportunities when the market is declining.
