The Fed cut interest rates by 50 points. Will the cryptocurrency market plummet or take off next?
Before the bull market broke out in 2017, after the "94 incident", Bitcoin was cut in half and altcoins fell by 80%-90%;
On March 12, 2020, Bitcoin fell by 63%, and altcoins generally fell by 90%-95%;
In September 2020, Bitcoin only fell by 20%, but the DeFi sector pulled back by 90%;
On May 19, 2021, Bitcoin was cut in half again, and altcoins fell by 80%-90%;
From March 2024 to now, Bitcoin has pulled back by 33% at most, and altcoins have still fallen by 80%-90%.
It stands to reason that it should rebound after such a big drop, but in recent days, there has been another big drop, and the market has fallen into panic. Yesterday, several people talked to me and said that someone lost 800 million, someone lost 2 million, and someone lost 800,000. Most people are losing money, some are paper losses, some are real losses, especially those who added leverage and played contracts, their positions were blown up overnight. All the money they made before was returned to the market!
