2 Days to the Anniversary of the Biggest Crash in Crypto History: 10th October

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For a facy, 10th October last year was the biggest crash in Crypto history. Up till now I haven't come across any good explanation for why the crash happened except the conspiracy-theory-like explanation that it was just manipulation by people who wanted trade to go that way for their profit. The suspects are exchanges and insider whales.

BTC had just finished mooning like it does every 4 years, and everyone was expecting the Alt season next. It seemed to be taking it's time but when October came, the last quarter of the year, everyone thought it had to be now. The charts seemed to confirm it too, so many experts too. A lot of longs were placed and excitement was in the air, only for everything to fall and rise in the twinkle of an eye.

No other explanation seems to make sense, because there was no big bad news that was supposed to have caused it. Clear manipulation and it is such a shame. More shameful if the exchanges were involved in it because they're supposed to protect the dignity of the crypto market. A lot of people lost faith in the crypto market that day.

That day showed them that a few people can turn the market in whichever direction they wanted, when they want. This has always been the truth every trader should know, but the scale at which it was done on the 10th last year was just brutal. They couldn't even wait for a bad news to ride on.

Now, today is the 8th of October and a lot of people are recalling the PTSD from last year. A lot of people are expecting a repeat this year, but even though they don't think it would happen simply because it happened last year a lot of them are just wary of the 10th and putting themselves in a position where a reoccurrence of last year's event wouldn't catch them in a vulnerable position.

People are selling and closing longs. The market is bleeding currently.

Hopefully it all goes away after the 10th and everything returns back to normal. Fingers crossed. But the fact remains that there's no much need to fear the 10th. What ws done could be done on any day. Lol. Spot trading over Futures trading. Plus, the fact that prices can fall without any bad news means it can rise without any good news too, so there are reasons to hope.

The End

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