The recent SEC action against Binance which triggered panic selling and a significant drop in Bitcoin with price decreased more than $1500 in a single session. It is likely that Bitcoin market will continue facing such volatility in coming weeks and months, as this is how Bitcoin market has been behaving historically which is its inherent characteristic. However, as long term investors, we should not overly concerned about such negative development and remain committed to our long term strategy.
Why are we talking about Binance and its CEO's attack by the SEC? Here comes another lawsuit again by the same SEC against Coinbase, which has received a warning from the SEC before now. It's no longer news that the SEC is after the big names, and as such, most people are panic selling out of fear of what might come next. Since the price already dumped over the Binance Sue, I don't think that Coinbase will have any great impact on the market again.
People might be seeing this as a bad time for Bitcoin, but those who turn everything into an opportunity will utilize it as an opportunity and take advantage of the entire situation. Those who have money will buy more and store it, not minding what the price will be tomorrow.