Welcome back,
The recent crypto market crash was really horrible for almost all the people. I don't think anyone in the entire world was safe from it. Only the spot traders were safe because they don't get liquidated, and that is why I always say if you are not a person who can go with the risk, then make sure never to participate in crypto trading.
Around 17–18 billion dollars were liquidated due to the recent market crash, and if you don’t know, I will tell you, there were traders who lost even in crores from India to whom I started following initially. So that’s a huge amount for anyone.
The market is already recovering, and if you don’t know, the only single person behind this crash was Mr. Trump. Due to his statement on tariffs against China, the market reacted in a negative manner. The worst thing is that tomorrow when the US market opens, and in case we hear a negative statement from the counter country, which is China, then the market can crash down further.
Though it is recovering right now and things look nice on track, I am still scared that another crash might be on the way because we never know how the Chinese government is going to respond to the statement given by Trump. And though Trump wants to negotiate and make things better, I think the manipulation was intentional.
Everywhere on Twitter, you can see that people are accusing the Trump family of manipulating the market and making profits out of it, and I truly believe that is the case. They are making money because there were wallets that opened short positions a few seconds before the market crash.
Now most of the tokens are still 25-30% down from where they were trading three days back, so we still have to wait a little more before we can fully see them recovering back to their original price.
As I shared yesterday as well, only a few of the tokens have managed to stay strong, like the DOG token, which is actually trading above where it was trading two days back. That is a really strong performance by the DOG token. I didn’t expect it to perform like that, but I am happy because I own it.
For now, the only suggestion I want to give to people is please stay away from futures trading because the next few hours or even a few days can wreck your entire portfolio. So if you are not a skilled trader, stay away from futures trading. Even if you are a skilled trader, please stay away from futures trading right now. The market is manipulative, and the things happening in the market right now can give you the loss of your entire life.
So stay away from it, and for spot traders, the best thing to do is hold and stop looking at the market for the next few days, and that’s what I am going to do. I am not going to buy anything or sell anything because I am a person who doesn’t react to these situations that are created to bring panic to people.
So I am also going to stay away from the market, not in the sense that I am not going to analyze the market, but in the sense that I am not going to buy or sell anything.
So that’s what my opinion is. The rest you can do what you think is better for you, and for now, happy trading everyone.
Posted Using INLEO
