If bitcoin does not renew its bottom, then BNB will also keep its support at the $200 level. I agree that we are still in a bear market, but it is unclear which part of it. I'm more inclined to say the final part. And unless there is some major economic upheaval or a major scam of some famous crypto project, we will probably keep these current low values, which were formed last year.
That's not going to happen, Bitcoin isn't that affected by the whole incident, it's doubtful that we'll see a new bottom for Bitcoin. Thus, there's still a decent chance to see a stop in this bloodbath, it's already looking quite positive, but let's not speculate just yet, it's too early to make accurate assumptions.
It may be just beginning. The incident has not had a strong impact because it may not have fully occurred yet. So far we see only some attacks and accusations. If the attacks escalate into active criminal cases, bans and all-out harassment, the market may react in the most unimaginable way. I believe that right now the conflict has not yet died down and, things are still to come and the worst may await us within a year or so.
That's also my main concern, the situation still hasn't escalated and it'd be best if it stayed that way. The market isn't currently at its worst, we've seen worse crashes and bear periods.
It reminds me of previous periods when bitcoin was up and the price was above $50,000, not many people would believe that BNB would go below $300. I remember some friends talking about the FTX crash, and then we also discussed the next thing with BNB and it could drop to under $100 with FUDs. And indeed up to now the issue of SEC and CZ with binance is negatively affecting this market, many people panic because the price falls, they lose in investment, it seems that the general psychology of the crowd is easier to dump more things. but are not alert enough to observe these news, among the risks will also appear opportunities for people to have a longer strategy with the market. For me, over time, binance will still maintain their position, and everything will become peaceful again.
You're comparing two distinct scenarios; this isn't about spreading misinformation or spreading rumors; there's a legitimate case against the major exchange. It's perfectly normal and expected for prices to plummet during such a period. Thus, this isn't just rumors circulating about cryptocurrencies, but a government organization with an active lawsuit that has the potential to convert a dire scenario into a nightmare, without a single warning.