It's truly Black Monday...

First, the Japanese market dropped sharply an hour ago and now South Korea is following suit.

What I have heard is that Japan's cash and commodity transactions have massively backfired on them.

But this is just one reason why the cryptocurrency market is affected, along with many other factors such as:

- The odds of Trump winning the election are gradually decreasing

- Rumors surrounding a recession are re-emerging

- The largest investors such as Warren Buffet significantly reduce the risk of their investments by selling 50% of their AAPL shares

- War tensions between Iran and Israel

and The main reason behind the cryptocurrency sell-off is that @jump_ is actively selling $ ETH.

They sold $ ETH and unstaked $500 million worth in the past 2 weeks. Word on the street is that they are completely leaving the crypto market making business..

Now, before you start to panic, I don't think this accident will last long.

Why?

It's election season, They can't let things get worse right before people vote.

My bet?

We will see some crazy emergency moves. The Fed will have to use some real magic to prevent this from becoming a mess

If (or more likely when) the Fed starts restarting the money printing press, we could see a strong recovery again once the dust settles..