Written by: Alex Liu, Foresight News
In the early hours of December 20, the market reacted more broadly to the previous day's Federal Reserve 'dove' delaying interest rate cuts, as the cryptocurrency market continued to plunge. Bitcoin fell below 96,000 USDT, while Ethereum dropped from a high of 3900 USDT in the early hours of the 19th to 3322 USDT. The intense volatility caused a total liquidation of over 1 billion US dollars in contracts across the network within 24 hours, with altcoins generally experiencing even more severe declines.
The feast is over, am I paying again? Should I sell and escape the peak or boldly buy the dip? Don't panic, let's see what top traders and investors have to say.
Famous investor, Placeholder partner Chris Burniske
Firmly bullish - this is just a 'small fool's punch', it's still early in this cycle.
If you are angry with yourself for not selling before the pullback caused by the FOMC's dove stance, remember that you have almost no advantage in predicting market reactions, and view it as an opportunity to take it slow. Don't overtrade. In the long run, as long as you are patient, you will be fine.
The VC who rose to fame by buying the dip on Solana, SOL Big Brain
Well-known trader DonAlt
The Bitcoin chart does not look bearish (for now), even if another leg appears (typical cases of similar trends), it still does not look bearish.
I believe that if we reach 90,000 USD, it will trigger a massive liquidation of altcoins, providing an excellent buying opportunity.
But I am not sure if that will happen; sentiment is already very 'bearish'.
I still believe the last station of the bull market is missing; it hasn't gotten crazy enough. It seems that the way the U.S. government is facilitating it feels like a huge waste of a ready-made powder keg.
Personally, I am not worried at all, but maybe I am being complacent.
Famous KOL KALEO
Trader Adam
Top trader Saint Pump
If the Bitcoin structure breaks down, I predict buying will appear again at 90,000. In pure panic, it could fall all the way to 85,000 USD. Altcoins would completely crash.
The suitable buying price for ETH would be 3000, 2900, while for SOL it would be 160.
Famous Solana Meme call master Ansem
Easter egg: Top trader Eugene Ng Ah Sio
A few hours ago, Eugene Ng Ah Sio explained why he is optimistic about the SOL price when it was at 208 USDT, stating that he has adjusted his Meme positions to SOL (his individual positions typically range from several million to tens of millions of dollars). In this wave of decline, SOL fell below 190 USDT at its lowest.
