This one hit different
The classic perfect storm in all markets has begun. On the stock market, common indices are drawing a picture similar to the crisis of 2008, the U.S. banking market is already a real apocalypse, and the coordinated attack of the world media and regulators against major cryptocurrencies began on the cryptocurrency market. Traditionally, the main asset for attacks in recent years has always been stabelcoins and Tether.
The driving force behind the banking crisis was Silicon Valley Bank (SVB), whose shares plummeted more than 85% in total, and its customers simply could not find their money in the banking application one morning. The other 40 largest banks in the U.S. experienced a liquidity crisis and a drop in their stock price of 4 to 65%.
In the real estate market, the situation is very similar to the mortgage crisis of 2007-2008, colorfully described in the famous movie "The Big Short" (The Big Short, 2015).
On the cryptocurrency market, the efforts of major media outlets in organizing a panic have had no historical precedent in the past. The issuer of USDT, the largest cryptocurrency by capitalization, counted (https://www.rbc.ru/crypto/news/640b27bd9a79479934a34fc8) that in 2021, the WSJ published 28 articles about FTX in a positive way, while the publication wrote about Tether three times more often, but with a negative message.
Tether counted 84 "exposé" articles about itself published in The Wall Street Journal (WSJ) during the year. In doing so, USDT "continues to be the subject of outdated, inaccurate and misleading coverage and accusations" by a major publication, Tether claimed.
Characteristically, large companies from the cryptocurrency industry, such as FTX, Celsius and Genesis, which were "supported in the publication's materials" later found themselves at the center of financial scandals or went bankrupt. Thus, purely statistically, the largest financial publication in the world is engaged in blatant lies and manipulation of public opinion.
Regulators joined the hysteria in the "blame game. The SEC finally announced that Ethereum is a security, causing the price of ETH to drop nearly 20%. The stranglehold on exchanges and the withdrawal of fiat dollars from cryptocurrency exchanges continues. According to the calculations of the organizers of the crisis, these measures should lead to panic and mass sales of cryptocurrencies.
Bitcoin was already falling by 18% and coming down to around $19,000 on some trading floors, but then suddenly the unexpected happened: there were huge billion-dollar buckets at the $19K+ zone. Colossal amounts of bitcoin were bought at that mark, over 474,000 coins, totaling over $9.5 billion.
Thus, a full-scale panic in the bitcoin market failed, and the event that took place shows that very many market participants believe in the prospects of the main cryptocurrency and are willing to pour huge amounts of money into the market when things are bad. As Rothschild once allegedly put it: "You have to buy when there's blood on the streets, even if it's your blood.
Most likely, the organizers of the crisis will draw conclusions from what happened, and if they can't affect holders' confidence and reduce their greed for cheap bitcoin, they may well affect their ability to pour billions of dollars into the market. In the near future we should expect draconian restrictions on the circulation of the dollar on the crypto market.
The main thing is to have time to block all the streams of fiat on the crypto market before the large-scale introduction of CBDC. Otherwise we may not have time. The Central Bank of Nigeria will not lie. As for the collapse of U.S. banks, starting with SVB and other major banks in America and Europe, this is a normal process, in the new world of state digital currencies, they will no longer be needed.
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