A classic perfect storm has hit all markets. Stock market indices are painting a picture similar to the 2008 crisis, while the banking market in the US is already experiencing a true apocalypse. In the cryptocurrency market, a coordinated attack by the world's media and regulators against major cryptocurrencies has begun. Traditionally, stablecoins and Tether have been the main assets for attacks in recent years.
The Silicon Valley Bank (SVB) has become tanhe locomotive of the banking crisis, with its shares plummeting by more than 85% and its clients waking up one morning to find their money missing from their banking application. The other 40 largest banks in the US experienced a liquidity crisis and a decrease in their stock quotes ranging from 4 to 65%.
The real estate market situation is very similar to the mortgage crisis of 2007-2008, vividly described in the famous movie "The Big Short" (2015).
In the cryptocurrency market, the efforts of major media outlets to create panic have no historical precedent. The issuer of the largest stablecoin by market capitalization, USDT, calculated that in 2021, WSJ released 28 positive articles about FTX, while writing three times as often about Tether, but with a negative tone.
Tether counted 84 "exposé" articles about itself published by The Wall Street Journal (WSJ) during the year. Meanwhile, USDT "continues to be the subject of outdated, inaccurate and misleading coverage and accusations" by the large publication, according to Tether.
Interestingly, large companies from the cryptocurrency industry, such as FTX, Celsius, and Genesis, which were "supported in the publication's materials," later became the center of financial scandals or went bankrupt. Thus, statistically speaking, the world's largest financial publication is engaged in blatant lies and manipulation of public opinion.
Regulators have also joined the hysteria in "The Big Short." The SEC finally announced that Ethereum is a security, which led to a nearly 20% drop in the price of ETH. The strangulation of exchanges and the withdrawal of fiat dollars from cryptocurrency exchanges continues. According to the organizers of the crisis, these measures should lead to panic and mass selling of cryptocurrencies.
Bitcoin had already fallen by 18% and dropped to around $19,000 on some trading platforms, but then something unexpected happened: huge billion-dollar buckets were sitting at the $19K+ mark. Colossal amounts of Bitcoin, more than 474,000 coins worth over $9.5 billion, were bought at this level
Thus, it was not possible to create a full-scale panic in the Bitcoin market, and the event that occurred shows that many market participants believe in the prospects of the main cryptocurrency and are ready to pour huge amounts of money into the market when things are bad. As the alleged Rothschild once said, "Buy when there's blood in the streets, even if it's your own."
Most likely, the organizers of the crisis will draw conclusions from what happened, and if they cannot influence the confidence of holders and reduce their greed for cheap Bitcoin, they can certainly influence their ability to pour billions of dollars into the market. In the near future, draconian restrictions on the circulation of the dollar in the crypto market should be expected.
The main thing is to manage to divert all fiat flows to the crypto market before the massive introduction of CBDC. Otherwise, there might not be enough time. The Central Bank of Nigeria can attest to that. As for the collapse of American banks, starting with SVB and other major banks in America and Europe, it is a normal process in the new world of government digital currencies - they will no longer be needed.
I can if I want, but sometimes I'm lazy)
