The latest SEC lawsuit against Binance has caused a massive market crash, with BNB suffering the most, going as low as $233, the lowest it has ever been in 2023. Bitcoin has also suffered great losses, but it's not as bad as BNB, which hasn't stopped falling since the incident started and got progressively worse for altcoins when the SEC labeled 46 of them as securities to be avoided at all costs. Some of which include BNB, XRP, BUSD, MANA, and plenty of others. Personally, I believe that the condition is starting to become worrying, especially if Binance loses and there's no settlement, which would also have disastrous consequences for the market in general.
The most worrying of all is BNB, which is in freefall and its future might be doomed if no solution is found. What's your take on this? Do you think that a solution will be found to avoid any further losses, or are governments on their way of winning the war against cryptocurrencies?
If this case turns out to be positive, we cannot even predict the price increase of the mentioned coins. We should also consider the negative side and take precautions on our own. Everyone has more or less invested in these coins. I don't think there is a major collapse at this level. Drops in these rates happen all the time in crypto. Bitcoin did not have a negative impact on this case. Still standing firm. It will return strong on BNB. If Binance has done something wrong, it should do the right thing and go back to its old days.
We are at a very early stage right now. The decline in crypto as a result of different news it could be. The real issue here is whether we are going to buy in this decline and lower the average or do we sell some.