The Fed cut interest rates by 50 basis points. Will the cryptocurrency market plummet or take off next?
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Looking back at history:
Before the bull market in 2017, the "94 incident" occurred. Bitcoin was halved and altcoins fell by 80%-90%;
On March 12, 2020, Bitcoin plummeted by 63%, and altcoins 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 halved again, and altcoins fell by 80%-90%;
From March 2024 to date, Bitcoin has pulled back by 33%, and altcoins are still down by 80%-90%.
It stands to reason that after such a deep pullback, the market should rebound, but recently it has ushered in a new wave of sharp declines, and panic has spread. Many people came to talk to me. Some people lost millions, some people were liquidated, and all the previous profits were returned to the market.
The cryptocurrency world is full of uncertainty and opportunities. Investors should be rational, understand the risks, and use prudent strategies to deal with fluctuations.
