The SEC lawsuit against Binance has caused a major market crash, especially hitting BNB hard. It's worrying, and the future of BNB looks uncertain unless a solution is found. It remains to be seen if governments will have the upper hand in the crypto world.
The lawsuit definitely showed its effect on the market since Bitcoin and every cryptocurrency started dropping right after the news started spreading across different social media platforms and online news portals. As you mentioned some tokens are affected more than others including BNB which has faced significant drops since SEC has announced that they will take Binance to court.
There are also some other bad news circulating in the industry which are causing the market to crash as well but because they are not as big as Binance and Coinbase being sued for some of their services. However, we will soon recover from that too.
People see it as a bad sign about a huge market crash and some are selling off their coins in order to anticipate such a crash. Of course, I may not say it was a bad decision but as we can see, the market isn't in worse condition so I think we don't have to worry too much as we know that FUDs cause declines but after this, it rise again. Nevertheless, might the price of Bitcoin will crash but I don't think it drops below $25k and it that will sustain, it means that many people still have the guts to hold than the number of investors who are weak.
Yeah, but it might be a blessing in disguise for crypto investors. There could be sellers now who might regret their decision to sell very early. On the other hand, those who buy in the crash, not just this crash alone, but last year when the price really drop down hard and some of the coins went to -90% from their last all time high. So those coins are going to be very cheap that time and now it presented another opportunity to buy when the news of Binance against SEC hits the market.
So in this kind of opportunity, we should really take advantage of it by buying and then maybe we can continue doing it thru DCA if your goal is long term. And obviously the best time to sell and take home profits is during the next bull run.