Whenever the price of Bitcoin drops, there are always reasons or news to justify the price movement (Damn, I was busy with work and didn’t pay attention to the market, waking up at 3 AM and almost cried when I saw my account drop shockingly, all those weeks of price increases gone in a few hours of market crash, what a scam). Here are 02 reasons from two different perspectives explaining the SHOCK PRICE DROP LAST NIGHT:
According to my personal perspective and the disgruntled friends 😄:
Dropping to slap those who want to get rich quickly by using leverage, thinking the market would keep rising, thinking it was a sure uptrend (I wrote an article a few days ago warning about the price). In the right moment of pulling the wood from the bottom of the furnace, all their relatives who were using leverage got wiped out, surely some lost their homes and cars or lost everything after last night’s incident (sorry for your loss, but greed leads to suffering). Additionally, this could be a warning for those to cut their losses to lighten the load... In general, the price may drop further, either way, a lot of profit has already been lost, and no need to hold onto it to die 😄
Explaining it in a way that legitimizes the price movement so traders and holders are not upset:
In the past 24 hours, the crypto market has witnessed a significant price drop, with major coins like Bitcoin (BTC) and Ethereum (ETH) decreasing by 2-4%, along with altcoins like Solana and Polygon falling even deeper by up to 8% in some cases.
The main reason for this decline is related to concerns about geopolitical instability. Specifically, the announcement of martial law in South Korea by President Yoon Suk Yeol has put significant pressure on investor sentiment. South Korea is an important crypto trading market, and this event has led to a strong wave of sell-offs, especially on exchanges like Upbit and Bithumb.
IN SUMMARY, YOU GUYS NEED TO CONSIDER CAPITAL PROTECTION AND POSITION CALCULATIONS. I’VE REMINDED YOU MANY TIMES, NO ONE CAN DRAW A CHART AND KNOW THE PRICE FOR NEXT WEEK OR THE WEEK AFTER. I HAVEN'T SEEN ANY OF THOSE KOLS TALKING ABOUT LAST NIGHT’S ALTCOIN COLLAPSE, THEY'VE ONLY BEEN TALKING ABOUT THE MARKET RISING, UPTREND IN RECENT WEEKS. HOW COME TODAY THEY TURNED AROUND TO ANALYZE CHARTS AND TRY TO PREDICT? PREDICT WHAT THE HELL!
