EPISODE #202: Crypto Market Flash Crash - Peso Smart PH
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Around -20% yung na wipe out sa market cap ng crypto markets 12 hours ago. There are a couple of reasons why this happened and in this episode, we talk about some of them. Here are some of the possible reasons why this flash crash happened: 1. "Buy the rumor, sell the news" - Today was the first day na naging legal tender yung Bitcoin sa El Salvador so this sort of became a catalyst for this bullish run the past 1.5 months. And this is one of the reason why nagkaron ng sudden correction. 2. Overly leveraged traders getting liquidated. Since maganda na yung run ng crypto market from July 20 up until now, sobrang dami na ulit nag set ng long trades. So pag na trigger yung liquidation ng mga overly leveraged traders, magiging domino effect siya. 3. Whales selling off at the local top. Typical activity naman ito ng mga whales. They're not looking to sell off their holdings at the top. They just sell off at reasonable price targets then buy back pag nagkaron ng ganitong dip. 4. Unnecessary FUD. Syempre kapag nag bubull run na ulit yung market, madami nang nagiging "crypto experts" overnight. Sila yung mahilig bumili sa local tops and mag fear sell kapag may ganitong shake outs. And sila din yung mga taong mahilig mag post na BTC and other altcoins will go to zero. Then, kapag nag run na ulit pataas yung mga coins, mag FOMO in ulit sila. Connect with me @emmanpsph on all socials (Facebook, Instagram, Twitter and TikTok)
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Published 10/26/21