Expert Claims Crypto Investors Deserve Ongoing Bull Run After Overcoming 9 Major Events

Renowned crypto expert Ash believes that investors are entitled to the current crypto rally after enduring numerous challenges, including SEC actions and a prolonged bear market.

Following Donald Trump’s re-election, the prices of various cryptocurrencies have surged significantly. Bitcoin (BTC) has seen remarkable gains, climbing from $68,357 to $89,604 within a week.

Since the election, Bitcoin has been consistently reaching new all-time highs (ATH), with its latest peak hitting $89,604 today. This impressive performance has also positively influenced other cryptocurrencies, such as Ethereum (ETH) and Solana (SOL), which have experienced substantial increases.

Crypto Investors Deserve This Rally After Enduring 9 Major Events

Ash pointed out that the recent rally in the crypto market serves as a reward for investors who have weathered several significant setbacks that impacted their investments.

The expert identified nine critical events that led to considerable downturns in the crypto market over the past few years.

1. Bitcoin's Plunge from $69K to $15.4K

The first major event was Bitcoin's drastic drop to $15,400 after reaching its 2021 peak of over $69,000. The asset faced intense selling pressure, resulting in this significant decline.

2. The Terra Crisis

The second event was the Terra crisis, which occurred in May 2022 when its stablecoin, Terra USD (UST), lost its dollar peg, causing a ripple effect across the market. The native token LUNA plummeted from $119.8 to $0.

3. Collapse of Three Arrows Capital (3AC)

The third major crisis was the collapse of Three Arrows Capital (3AC) in 2022, which followed the crypto winter. The firm’s valuation fell from $18 billion to $0, severely impacting other lenders in the ecosystem.

4. Bankruptcies of Voyager and Celsius

Ash also mentioned the bankruptcies of Voyager Digital and Celsius Network. Voyager's downfall was linked to the 3AC crisis, while Celsius filed for Chapter 11 Bankruptcy due to declining crypto prices.

5. FTX Meltdown

The fifth event was the collapse of the FTX exchange, which led to the crash of its native token, FTT. Mismanagement of customer funds by founder Sam Bankman-Fried triggered this crisis, causing significant market turmoil.

6. USDC De-Pegging

The sixth event was the de-pegging of USD Coin (USDC) following the collapse of Silicon Valley Bank in 2023, raising concerns among investors as the stablecoin lost its 1:1 ratio to the dollar.

7. Binance Bank Run

Ash highlighted the bank run at Binance as the seventh event, which occurred after U.S. authorities filed criminal charges against the exchange. Despite fears, Binance reassured investors about its financial stability.

8. SEC Enforcement Actions

Numerous crypto entities, including Binance and Coinbase, faced enforcement actions from the U.S. SEC, which negatively impacted crypto prices and raised regulatory concerns among investors.

9. Two-Year Bear Market

Lastly, Ash noted the prolonged two-year bear market, during which various assets saw significant declines in value due to the cumulative effects of the aforementioned events.

Ash believes that investors who remained steadfast through these challenges deserve the current upward trend in the market.

Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed may reflect the author's opinions and do not necessarily represent those of The Crypto Basic. Readers are encouraged to conduct thorough research before making investment decisions. The Crypto Basic is not responsible for any financial losses.