What happened to the crypto market?

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What happened to the crypto market?

The market is only going down for the last few days. What is the reason for this ? Does the cryptomarket go down for no reason ?
If this down continues, investors are likely to lose their capital. Now some tokens are worth 4:1 since my investment time.

Kasun Premathilake Answered question June 12, 2024
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I would suggest you not to panic as this is pretty usual for crypto market and we have seen this time and again. It will buckle up and this would be the phase where one can make quick investment to get quick profit. As far as your concern of tokens being revised to 1/4th of its value that’s sad but I guess those are new tokens or meme coins or other Altcoins not in top ten as this tends to happens but market will recover hence take a chill pill.

Kasun Premathilake Answered question June 12, 2024
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That’s a normal crash because it fails to break the trend of a symmetrical flag the price touches above the flag but it fails that is why it crashes but it doesn’t mean it would crash more it might be just a retracement and it might retest the $71k again or it might continue to drop but still inside the symmetrical flag.

If you are investing in altcoins or tokens then they would also drop because it’s dominated by BTC. That’s pretty normal if you do believe in that project why would you sell instead of buy when you see red keep buying or do DCA then hold and sell it at the right time don’t sell it if you don’t make any profit.

Bhanuka Harischandra Answered question June 12, 2024
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