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RE: The crypto market falls sharply and tries a quick recovery.
hi @chucho27
I would not pay much attention to recent price drop of BTC.
There wasn't much panic on the markets, no real news which could trigger panic sale. Altcoins didn't really crash (as it always seem to be the case if something meaningful is happening).
I would point of also at the fact, that volumes rapidly growed during price drop. And again: it wasn't caused by mass panic. So it had to be attempt of one (or few working together) big players to crash the market. I bet they were hoping to trigger liquidations, which could bring entire market down heavily.
But this did not happen. So I see this recent dump as not succesful attempt to crash the market.
Cheers, Piotr
Hello friend @crypto.piotr.
That's one of the big possibilities, the BTC market recovered quickly and the volume really increased, it's very likely the theory of some whales looking for a market crash and capitalize more BTC in their wallets.
I don't think the market will fall further, or not for now, as it had strength to hold up.
Good point you make about AltCoins, which had no negative impact of great magnitude due to this small drop.
I appreciate your reply @chucho27 :)