The cryptocurrency market has been nothing short of a rollercoaster ride in recent times. One day, we hear about a potential bank run on USDC leading to its depegging and the downfall of crypto, and the next day, we hear about CZ of Binance putting $1 billion from the industrial reserve fund into Bitcoin, resulting in the market turning green once again.
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As an avid observer of the market and crypto head, I can't help but notice the swift change in sentiment from the crypto Twitter community. It's interesting how the mood can go from “its doomsday-tomorrow-everyone-run-for-your-lifeto kumbaya-rainbows-in-the-sky in the blink of an eye.
While some may speculate that the recent dip in the market was manipulated, I second it but I have my own theory. I strongly suspect that CZ played a huge role in capitalizing on the dip, loaded up on BTC in the hundreds of millions, and only made the announcement about the $1 billion investment after the market had started to recover……
Of course, this is just my opinion, and I could be wrong. Regardless of the speculation, the recent announcement by CZ has breathed new life into the market. The price of Bitcoin has reclaimed $24k, and many alts have rallied behind. It's a reminder of how much influence key players in the market can have, and how quickly things can turn around.
The cryptocurrency market is known for its volatility, and the past few days have been no exception. As we move forward, it's important to keep a level head and not get caught up in the FUD m that can sometimes cloud our judgment. Ultimately, do your own research, make informed decisions, and be prepared for the ups and downs that come with investing.
One thing people aren’t talking about is how CZ could have pumped the shit out of BNB and given valid reasons for doing so with the $1billion or a huge part of it instead of buying BTC and ETH with everything. Anyway did you make money for the usdc depegging? It was like free money for everyone involved in crypto. I didn’t.
Thanks for reading. Kindly share your thoughts
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