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Thoughts on the current market situation?
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<blockquote data-quote="Sledmore" data-source="post: 469353" data-attributes="member: 591"><p>Howdy,</p><p></p><p>Just figured I'd spark a discussion about the current market situation. If you haven't been following lately the market has seen quite a crash lately; although many analysts believe that the current bull run is far from over.</p><p></p><p>The total market cap went from around $2.02 trillion to $1.53 trillion (at the time of writing this post). Lots of mixed opinions with this, many believe that the correction was needed & was coming whilst a lot also believe that this is due to market manipulation. There is also other factors; talks of regulations in the US, reporting all transactions over $10,000 to the IRS & China enforcing stricter 'crackdowns' on crypto.</p><p></p><p>With all of this going on tokens on the <strong>BSC </strong>have suffered quite a lot; in fact <strong>$BNB</strong> has moved down from #3 to #5 on <a href="https://coinmarketcap.com/" target="_blank">CoinMarketCap </a>w/ <strong>$USDT </strong>(stable coin) & <strong>$ADA </strong>taking 3rd and 4th respectively. <em>I don't really follow ETH considering the issues it has, so I'm not going to comment on ERC-20.</em></p><p></p><p>I can only assume that the majority of traders sold whilst they could for <strong>$USDT</strong> and are waiting for a buy in opportunity considering the market appears to be very volatile at the moment with no real sign of when we'll start to rise again.</p><p></p><p>[ATTACH=full]12381[/ATTACH]</p><p></p><p>Curious to hear your thoughts on this current situation & whether or not you're still in?</p><p></p><p><strong>Sources:</strong></p><p></p><p>[URL unfurl="true"]https://www.cnbc.com/2021/05/20/us-treasury-calls-for-stricter-cryptocurrency-compliance-with-irs.html[/URL]</p><p>[URL unfurl="true"]https://www.bloomberg.com/news/articles/2021-05-20/treasury-calls-for-crypto-transfers-over-10-000-reported-to-irs[/URL]</p><p>[URL unfurl="true"]https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-price-china-ban-btc-update-b1851630.html[/URL]</p><p>[URL unfurl="true"]https://www.ft.com/content/c26ef6bb-ed04-44a0-8ee0-5f7908e0d854[/URL]</p></blockquote><p></p>
[QUOTE="Sledmore, post: 469353, member: 591"] Howdy, Just figured I'd spark a discussion about the current market situation. If you haven't been following lately the market has seen quite a crash lately; although many analysts believe that the current bull run is far from over. The total market cap went from around $2.02 trillion to $1.53 trillion (at the time of writing this post). Lots of mixed opinions with this, many believe that the correction was needed & was coming whilst a lot also believe that this is due to market manipulation. There is also other factors; talks of regulations in the US, reporting all transactions over $10,000 to the IRS & China enforcing stricter 'crackdowns' on crypto. With all of this going on tokens on the [B]BSC [/B]have suffered quite a lot; in fact [B]$BNB[/B] has moved down from #3 to #5 on [URL='https://coinmarketcap.com/']CoinMarketCap [/URL]w/ [B]$USDT [/B](stable coin) & [B]$ADA [/B]taking 3rd and 4th respectively. [I]I don't really follow ETH considering the issues it has, so I'm not going to comment on ERC-20.[/I] I can only assume that the majority of traders sold whilst they could for [B]$USDT[/B] and are waiting for a buy in opportunity considering the market appears to be very volatile at the moment with no real sign of when we'll start to rise again. [ATTACH type="full"]12381[/ATTACH] Curious to hear your thoughts on this current situation & whether or not you're still in? [B]Sources:[/B] [URL unfurl="true"]https://www.cnbc.com/2021/05/20/us-treasury-calls-for-stricter-cryptocurrency-compliance-with-irs.html[/URL] [URL unfurl="true"]https://www.bloomberg.com/news/articles/2021-05-20/treasury-calls-for-crypto-transfers-over-10-000-reported-to-irs[/URL] [URL unfurl="true"]https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-price-china-ban-btc-update-b1851630.html[/URL] [URL unfurl="true"]https://www.ft.com/content/c26ef6bb-ed04-44a0-8ee0-5f7908e0d854[/URL] [/QUOTE]
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