Altcoins News
By Jean-Luc Maracon
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On February 5, the world's leading cryptocurrency fell below the $70,000 mark for the first time since October 2024. Traders are panicking.
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Since December, it's been a downward spiral.
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Bitcoin was still flirting with $90,000 two months ago. Now? Investors are rushing for the exit. Beijing has tightened its stance on cryptos. New restrictions.
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Ethereum and Ripple are also suffering. Down 15% for one, down 20% for the other in a month. Massive sell-offs are happening. Confidence is eroding.
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"We're in a pure panic scenario," says a market analyst. Others speak of "extreme fear." Memories of 2022 resurface. Terra Luna collapsing. FTX imploding.
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But some see opportunities. Investment funds are watching for the right moment to enter. Institutional investors remain on alert.
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Voices are calling for more regulatory clarity. "We need precise rules," insist industry players. Clear regulation could certainly reassure.
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Changpeng Zhao of Binance saw sales volumes explode on February 5. According to him: "Automated algorithms amplify the movement.
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At Coinbase, the same observation. Brian Armstrong, the CEO, noted that volumes have doubled compared to normal.
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MicroStrategy is holding firm. Michael Saylor, the executive chairman, stated on February 4: no intention of selling their bitcoin reserves despite the drop.
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In Japan, there's also concern. Shunichi Suzuki, the Finance Minister, is closely monitoring. "We're looking at the impact on financial stability.
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Kristalina Georgieva, the managing director, called on February 6 for "increased monitoring of financial risks" related to cryptos.
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In Europe, Christine Lagarde organized an emergency meeting at the ECB. "We need international cooperation to manage these risks," she said.
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Fidelity Investments is swimming against the tide. Abigail Johnson, the CEO, revealed on February 7 that the fund had increased its exposure to cryptos despite the decline.
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In New York, Letitia James, the state attorney general, launched an investigation on February 8 into the practices of exchange platforms.
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