Here’s what happened in crypto today

[LearnBitcoin]

If you are wondering what has happened in the crypto market today, then you should read this. According to the Cointelegraph;

Today in crypto, several top altcoins including Ether fell double digits as the market continued to reel over Trump’s trade war. India’s government reconsiders crypto stance amid global regulatory shift and a savvy cryptocurrency trader has made nearly $16 million by capitalizing on Ether’s recent price decline.
Ether and top altcoins including Cardano fell double digits in an hour as the market continued to reel from US President Donald Trump’s first round of tariffs against imports from China, Canada and Mexico. the second largest cryptocurrency by market capitalization, fell 16% in a single hour to $2,368 on Feb. 3 at 2:11 am UTC.

top altcoins have fallen over 20% in the last 24 hours, contributing to an 11.4% drop in the crypto market cap to $3.17 trillion, CoinGecko data shows.


10x Research founder Markus Thielen told Cointelegraph: “The sharp drop in altcoins reflects a wave of stop-loss triggers combined with a buyer’s strike from retail investors.”

Thielen said trading volumes had been falling over the last few weeks, “signaling a waning appetite and lack of conviction from investors.”

You can read more here; https://cointelegraph.com/news/what-happened-in-crypto-today

 

[Ciawwni129]

My poor ripple... down a dollar now, hope this irons out and some people get rich from the dip

Edit: Am Canadian. XRP is probably the least of my problems lmao

 

[LearnBitcoin]

My poor ripple... down a dollar now, hope this irons out and some people get rich from the dip

Edit: Am Canadian. XRP is probably the least of my problems lmao

If this continues, then we are going to the bear run without having an alt season this time. A lot of people don't understand what Trump and his sons are doing. I believe you heard about the Trump meme coin. There is a rumor that Trump's son owns this coin, and he has a big portion of that token, which he can dump on the market anytime. Now, Trump is Signing New Tariffs On Canada, Mexico, and China. This is going to affect the market.

 

[Ciawwni129]

If this continues, then we are going to the bear run without having an alt season this time. A lot of people don't understand what Trump and his sons are doing. I believe you heard about the Trump meme coin. There is a rumor that Trump's son owns this coin, and he has a big portion of that token, which he can dump on the market anytime. Now, Trump is Signing New Tariffs On Canada, Mexico, and China. This is going to affect the market.

I think you're trying to read a pattern that doesn't exist. Crypto crashes all the time, even more so when there's uncertainty and some big players make some big moves. But the markets are already bouncing back. Tariffs are very unlikely to cause any real movement in the crypto market.

XRP crashed to 1.97 yesterday, already back to 2.66
LTC crashed to 86 yesterday, already back to 102
BTC crashed to 92.8k yesterday, already back to 99.6k
BCH crashed to 289 yesterday, already back to 335
TRON crashed to 20.5 yesterday, already back to 22.6

Seeing a pattern? Crypto crashes regularly, but it doesn't mean the crypto world is over We'll be fine. Many people getting rich from the dip.

 

[LearnBitcoin]

I think you're trying to read a pattern that doesn't exist. Crypto crashes all the time, even more so when there's uncertainty and some big players make some big moves. But the markets are already bouncing back. Tariffs are very unlikely to cause any real movement in the crypto market.

......

Seeing a pattern? Crypto crashes regularly, but it doesn't mean the crypto world is over We'll be fine. Many people getting rich from the dip.

I agree with your point of view. I am not worried about the Bitcoin market. No matter how hard it dumps, it will eventually recover. But as you can see, this news actually affects the market in the short term. I am worried about altcoins. When Bitcoin loses a 5% value in the last 24 hours, most of the alts lose 15% to 30% value. But when altcoins start to accumulate, it recovers fast as well.

I want to quote a post from Bitcointalk;

Tariffs mean inflation, inflation means higher rates, and when rates are higher money doesn't flow into Bitcoin, we've learned that for two years.
As I said before, we're going to be extremely lucky if we don't go below the 3rd last ATH (2021) with this moron left unchecked in the white house.