Yes, that's exactly it. There are two possibilities: either someone sold a lot of cryptocurrency, or there was market manipulation. Many people believe the second because this didn't just happen with Hive. It happened with the largest cryptocurrencies. I'll share a few examples below.
XRP:
BNB:
WIF:
PEPE:
Doge:
Now tell me a little more on market manipulation ? How that happens ?
It's really hard to explain this simply, man. There could be several reasons for market manipulation. There's a lot of speculation going around. Some people are saying that CZ (Binance's CEO) created this market downturn to get Trump to pardon him, and that Trump's son made a lot of money by opening leveraged short positions during this downturn. I've seen on social media that Trump's son has made money many times. I'm not that knowledgeable, so I don't know if the account is really his, but there's a strong rumor about it.
Another theory says that whales predicted the market crash in advance, opened short positions, then sold their holdings and profited from the short trades.
Some also say it's just whales selling in large quantities, and the reason is the result of the US trade war against China.
The latest theory I've heard is that long positions opened in the markets want to be cleared. This way, no one can make money if the market potentially goes up. Social media is abuzz with talk of both Turkish and foreign users losing millions of dollars. According to the Coinglass website, traders lost $20 billion that night. This is not money lost by those holding cryptocurrency in the spot market, but rather by those engaged in leveraged, futures-based trading.
Didn't even think that it could run this deep... but I wouldn't be surprised as well
I don't think anyone expected it to go this low, personally I was very surprised lol.
🙃🙁
My friend @incublus I completely agree with the ideas you write here - what has happened to the rest of the market, but I disagree with HIVE, because right now everyone wants to put the HIVE problem under the general market problem that happened all in one weekend. Which is absurd. I have a question for you here with a picture, could you describe this view to me in a simplified form.
When I look at it, it is beautiful to see that we have been beaten to death for the last 11 months - not in one weekend, and this last movement where there is a circle with the end of 2025 is a small problem, in fact, you should rather ask why our whales don't buy when they were given a gift right on a silver plate to buy even lower after 11 months of selling, they have already taken out their money long before this infamous weekend drop came here. So what we wait then :))) or where is are money lets say :)))
None of us are happy about the price drop, and I don't think Hive's problem is just a one-week or one-month issue. Above, I only explained the market decline. Not Hive's decline. Hive's problem is generally that it can't reach investors and can't be promoted. We're already in Hive and we're buying or selling. How can a Pepe whale discover Hive and buy it?
The situation at the end of 2024 was, I think, Hive being listed on many different exchanges and opening up for futures trading but I'm not sure.