Hey, fellow crypto warriors, yesterday Bitcoin plummeted, and the whole network is filled with cursing! I will deeply analyze the behind-the-scenes drivers of this turmoil and share a few coping strategies for the common folk.
The Five Major Drivers Behind the Plunge
Policy:
A certain state government in the United States suddenly announced a suspension of investments in digital currencies, causing the market to react dramatically, with a surge in risk-averse sentiment and a wave of selling. Remember, policy changes are like a fog; wait for official statements before making decisions.
Platform Attacks:
A well-known exchange was attacked by hackers, resulting in the evaporation of 1.5 billion USD! User panic spread, leading to a wave of sell-offs. Asset security needs to be diversified, and cold wallet backups are essential for peace of mind.
High Leverage
In just 24 hours, 290,000 investors faced liquidation of their leveraged positions, with losses reaching 6.3 billion! A high-risk game, forced liquidations are ruthless; beginners should be cautious, spot trading still requires caution, and leverage is a minefield.
Technical Correction
After Bitcoin reached new highs, corrections followed closely behind. Veteran players had already predicted this, pointing to the 70,000 USD mark. Institutions prepared for retreat in advance, and retail investors need to be vigilant, avoiding the belief that prices will only go up. Trend analysis and support judgment are the right path.
International Turmoil
The situation between Russia and Ukraine is tense, causing funds to seek refuge in gold, which also affects the crypto space. During geopolitically sensitive periods, gold and Bitcoin see fluctuations in relation to each other. Keep an eye on global dynamics and flexibly adjust asset allocation.
I hope all comrades invest rationally and proceed cautiously.
Now that the market is stabilizing after the correction, the bull market is about to restart! I have carefully selected a altcoin expected to increase fivefold, comment '68' to find out more!
For more truths and valuable insights from the crypto world, I'll guide you to earn steadily and clearly!
