What is the reason for the recent crypto market crash?

Can I buy at the bottom?

In the past three days, Bitcoin has fallen by nearly 10%, and the altcoins have fallen across the board. The crypto market has suffered a heavy blow. What is the reason behind the sharp decline?

After the market panic spreads, will it be a rare opportunity to buy?

The main reasons are as follows:

First: With the intensification of local wars in the Middle East, the U.S. government has also informed the staff and families of the U.S. Embassy in Israel to take refuge on their own. Local turmoil will cause a rapid decline in the financial market.

Second: Powell's speech will reduce the interest rate cut from 125 basis points to 100 basis points. Although the Federal Reserve will continue to cut interest rates to support economic growth, it is not in a hurry to cut interest rates significantly. He emphasized that the economic situation is sound and the Federal Reserve's goal is to maintain stability, and it will not rush to further cut interest rates.

Third: Affected by the Japanese stock market, the Japanese stock market has plummeted and triggered circuit breakers in the past few days. It may be because the previously rumored crisis has not been resolved, or it may be because of the new prime minister's coming to power and raising interest rates. Bitcoin plummeted in early August, and Japanese stocks also plummeted and triggered circuit breakers.

Fourth: US JOLT job vacancies increased to 8.04 million, higher than the expected 7.65 million.

Fifth: The US ISM manufacturing PMI was 47.2%, the largest drop since May 2023, lower than the expected 47.5%, and shrunk for the sixth consecutive month.

If the market continues to fall and panic increases, can we buy at the bottom?

I think so.

From the historical trend, the market crash caused by such news is usually a rare opportunity to buy at the bottom. The expectation of the currency has not changed, the value has not changed, but due to external influences, the cost is lower. The ancients said that there must be a surge after a sharp drop. For example, Bitcoin plummeted to 48,000 US dollars in early August, and then rebounded to 65,000 US dollars. Take the value of spot time to outperform all negatives! Nowadays, the market is ups and downs. Blindly working alone will never have a chance. Every big drop is the time for you to increase your position. Cherish this round of bull market. Friends who like spot don’t know when to increase their positions, buy at the bottom, and escape at the top. Click on the avatar to follow Da Piaoliang. Da Piaoliang will share strategies, opinions, etc. for free every day in Neihu. #加密市场急跌 #伊朗导弹袭击以色列 #BTC☀