RE: Short analysis of the current cryptocurrency market situation (Personal opinion)
Dear @josevas217
Finally I've found some time to catch up with few previously bookmarked publications.
Recently the SEC has made two lawsuits against the two exchanges I mentioned, making the market extremely nervous and fearful
On the first glance, current market conditions are absolutely awful. Coinbase and Binance is kind of "in trouble" and pretty much all altcoins are bleeding out like crazy.
I myself am trying to be more optimistic. The way I see it is that news of SEC sueing Binance is of a great magnitute. It SHOULD crash market more than collapse of LUNA or FTX. And yet, we didn't see as much panic sale as I would expect.
BTC only went down by few %, which proves that there isn't that many investors willing to dump their BTC at current price level. And this is solid confirmation of strength of this market. Wouldn't you agree?
Have a great week ahead of you :)
Yours, Piotr