If you look at the charts today, you can see two things:
1- there was an enormous dip in all cryptocurrencies, most likely linked to the money laundering news.
2- there was a quite fast recover in prices because people just used that dip to, well, fill their bags.
While it’s sad to see that such news caused such movement, this is still great news as it shows that a crypto winter that happened after 2017 may never come. People are understanding the importance of crypto and are less scared about prices. More and more you are listening to “I wish prices would drop so i can buy more” instead of “what if it drops?”.
Edit: I know a lot of long positions were liquidated, but this is the reaction, not the cause.
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