🔥🚩THE BIGGEST CRYPTO COLLAPSES OF 2022...SO FAR❗
🔥Hi friends! WHY THE COLLAPSE OF BTC IS STILL POSSIBLE? In this idea, I will explain what we can expect on the crypto market. As the CEO of BINANCE CZ said, we will feel the consequences of the FTX collapse in the closest future.
✅ So it is better to be prepared for any collapses that can happen soon. But first we will remember all the important events that happened to the cryptocurrency market (so far) and their influence on BTC in 2022.
🔥 I would be thankfull, if you push the "BOOST"🚀 button and help other traders to see this USEFUL idea❗ Let's start!
📊 THE LARGEST COLLAPSES IN 2022
✅ 1. LUNA🌖 and UST collapse
The main reason for TERRA LUNA collapse is it's algorithmic stablecoin UST. This stablecoin lost it's peg to USD (1:1) on BTC dump due to "algorithmic" technology. As we already know, about 80,000 BTC were used by TERRA LUNA to secure this stabelcoin, but it didn't help. Many holders of UST, just stablecoin(❗), have lost about $10B. LUNA was in top-10 capitalization list with the price $100 per coin and fall to $1.
🔥 What happened to LUNA and UST? Simple explanation in this idea!
🚩 BTC fall by -33% from $40,000 to $26,700.
✅ 2. The highest inflation in US since 1981
Due to the war that russia started agains Ukraine, the energy crisis, the effects of the pandemic, the large amount of money supply that was released in 2020-2021, inflation in the United States began to grow rapidly. Inflation reaches 8.6%, the highest the U.S has seen in 40 years.
🔥 Inflation rate data in the US for the last 50 years
Against this background, all large technology companies (mainly from NASDAQ), which are also called growth companies, began to fall very rapidly. Also, even ordinary blue chip stocks (CocaCola, Apple, Visa, etc.), which are considered quite reliable assets, began to fall. The SNP500 also began to fall.
Since Bitcoin is a fairly young asset and people who trade it are not yet accustomed to a sharp drop in price, so guided by fear, they push the price down even more.
🚩 BTC fall by -44% from $31,000 to $17,700.
✅ 3. FTX and ALAMEDA
🔥 First of all, Binance CEO CZ tweeted that going to sell it's FTT tockens because of some reasons that a lot of retailers don't know yet.
🔥 Secondly, a lot of on-chain data about FTX reservers start to spread at the social medias. Almost 400,000 ETH from FTX reserves disappear.
The most of FTX users start to withdraw money from FTX, but as they discover later, the exchange has only $900M out of $16B in it's reserves. A lot of people lost it's money, but investigation continues.
🔥 More details about FTX in the idea below!
🚩 BTC fall by -27% from $21,000 to $15,600.
✅ 4. GENESIS
And now... the FTX-related Hong Kong exchange Genesis Block announced it was suspending trading and closing its website on 10 December. Genesis was also the operator of one of the largest BTC crypto-market networks in Asia.
🔥 FTX has affected funds and users. Genesis affects almost every company in cryptocurrency.
For those who don't know, Genesis started as the first OTC bitcoin seller in 2013 (OTC desk). Crypto lending is the process of depositing cryptocurrency that is lent out to borrowers in return for regular interest payments. They are now the largest cryptocurrency lending desk.
✅ At the peak of the market, Genesis was huge. Take a look at these numbers for Q4 2021:
🔥 $50B in loans originated
🔥 $12.5B in active loans
🔥 $31B trading volume
🔥 $21B derivatives trading volume
🚩Then the 3AC fell. Genesis was the largest lender to 3AC, lending them $2.4B.
Dozens of companies, such as Gemini, use Genesis to help their consumers generate returns(yield). If you are a centralised platform that offers yeld farming, you probably use Genesis.
In addition, a large number of whales🐳 and foundations are lending money to Genesis. Now these funds, family offices and whales cannot get their crypto back. That's why the fall of Genesis is a huge blow. They are at the immediate heart of the crypto market. They hold the funds. They help to generate yield for centralised crypto platforms.
🔥As I said at the beginning, Genesis tried to attract additional investments for $1 billion urgently, but now it has become known that it has already decided to suspend crypto-landing operations. Be careful on the market!
🚩 BTC can fall by -24-27% from $18-19,000 to $12-13,000.
✅ Friends, if you managed to "survive" now (if you not a short trader only:)), believe me, in the next few years you will be able to earn so much profit that you never dreamed of. The bull market will be a breeze for you if you learn some lessons and learn to trade with a clear strategy and risk management.
Traders, how do you think this year will end? Will BTC make a new high at $30k or fall lower to $12-13k? Let's discuss it in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade
✅ So it is better to be prepared for any collapses that can happen soon. But first we will remember all the important events that happened to the cryptocurrency market (so far) and their influence on BTC in 2022.
🔥 I would be thankfull, if you push the "BOOST"🚀 button and help other traders to see this USEFUL idea❗ Let's start!
📊 THE LARGEST COLLAPSES IN 2022
✅ 1. LUNA🌖 and UST collapse
The main reason for TERRA LUNA collapse is it's algorithmic stablecoin UST. This stablecoin lost it's peg to USD (1:1) on BTC dump due to "algorithmic" technology. As we already know, about 80,000 BTC were used by TERRA LUNA to secure this stabelcoin, but it didn't help. Many holders of UST, just stablecoin(❗), have lost about $10B. LUNA was in top-10 capitalization list with the price $100 per coin and fall to $1.
🔥 What happened to LUNA and UST? Simple explanation in this idea!
🚩 BTC fall by -33% from $40,000 to $26,700.
✅ 2. The highest inflation in US since 1981
Due to the war that russia started agains Ukraine, the energy crisis, the effects of the pandemic, the large amount of money supply that was released in 2020-2021, inflation in the United States began to grow rapidly. Inflation reaches 8.6%, the highest the U.S has seen in 40 years.
🔥 Inflation rate data in the US for the last 50 years
Against this background, all large technology companies (mainly from NASDAQ), which are also called growth companies, began to fall very rapidly. Also, even ordinary blue chip stocks (CocaCola, Apple, Visa, etc.), which are considered quite reliable assets, began to fall. The SNP500 also began to fall.
Since Bitcoin is a fairly young asset and people who trade it are not yet accustomed to a sharp drop in price, so guided by fear, they push the price down even more.
🚩 BTC fall by -44% from $31,000 to $17,700.
✅ 3. FTX and ALAMEDA
🔥 First of all, Binance CEO CZ tweeted that going to sell it's FTT tockens because of some reasons that a lot of retailers don't know yet.
🔥 Secondly, a lot of on-chain data about FTX reservers start to spread at the social medias. Almost 400,000 ETH from FTX reserves disappear.
The most of FTX users start to withdraw money from FTX, but as they discover later, the exchange has only $900M out of $16B in it's reserves. A lot of people lost it's money, but investigation continues.
🔥 More details about FTX in the idea below!
🚩 BTC fall by -27% from $21,000 to $15,600.
✅ 4. GENESIS
And now... the FTX-related Hong Kong exchange Genesis Block announced it was suspending trading and closing its website on 10 December. Genesis was also the operator of one of the largest BTC crypto-market networks in Asia.
🔥 FTX has affected funds and users. Genesis affects almost every company in cryptocurrency.
For those who don't know, Genesis started as the first OTC bitcoin seller in 2013 (OTC desk). Crypto lending is the process of depositing cryptocurrency that is lent out to borrowers in return for regular interest payments. They are now the largest cryptocurrency lending desk.
✅ At the peak of the market, Genesis was huge. Take a look at these numbers for Q4 2021:
🔥 $50B in loans originated
🔥 $12.5B in active loans
🔥 $31B trading volume
🔥 $21B derivatives trading volume
🚩Then the 3AC fell. Genesis was the largest lender to 3AC, lending them $2.4B.
Dozens of companies, such as Gemini, use Genesis to help their consumers generate returns(yield). If you are a centralised platform that offers yeld farming, you probably use Genesis.
In addition, a large number of whales🐳 and foundations are lending money to Genesis. Now these funds, family offices and whales cannot get their crypto back. That's why the fall of Genesis is a huge blow. They are at the immediate heart of the crypto market. They hold the funds. They help to generate yield for centralised crypto platforms.
🔥As I said at the beginning, Genesis tried to attract additional investments for $1 billion urgently, but now it has become known that it has already decided to suspend crypto-landing operations. Be careful on the market!
🚩 BTC can fall by -24-27% from $18-19,000 to $12-13,000.
✅ Friends, if you managed to "survive" now (if you not a short trader only:)), believe me, in the next few years you will be able to earn so much profit that you never dreamed of. The bull market will be a breeze for you if you learn some lessons and learn to trade with a clear strategy and risk management.
Traders, how do you think this year will end? Will BTC make a new high at $30k or fall lower to $12-13k? Let's discuss it in the comments!
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade
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