Ah, no, the crypto market is falling and continues to immerse after a slight recovery. A series of unfortunate events, including statements and actions by Argentine President Javier Mailey, contributed to this fall. Milei and Hayden Davis with Libra did the reverse Midas Touch, and even major retailers were liquidated.
Today, the crypto market has seen a significant decline in relation to Argentina's activity. The market was partially shaken by President Javier Millée's involvement in Libra, and supported the tokens only to see investors fall apart soon. This will spread across the global crypto market, and infiltrate a variety of altcoins.
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Milei Sand Single Grain Tumbles Libra Cryptographic Scale
After President Milei's approval, Libra attracted attention, and its market capitalization sank freely from $4.4 billion to $70 million. Hayden Davis, an insider associated with the launch of Libra, admitted in an interview that he and other insiders had earned about $110 million worth of profits.
This came when retail investors faced huge losses. It's viral that one of the large Libra investors lost about $4.5 million in just five hours.
• I bought it $ libra $4.9 million
Sold for $350,000
•PNL: – $4.5 million for 5 hoursRIP pic.twitter.com/woktqzdzjv
– Aporia (@0xaporia) February 15, 2025
The ongoing struggle with economic stability, characterized by Argentina's high inflation and its decline, has made it a key player in the crypto.
The country has won one of the world's most crypto transactions worth $85.4 billion last year before February 2025. This high involvement with the code is especially due to citizens seeking an alternative financial system with Milei support.
President Mairi's code and involvement in Libra are seen in terms of its financial impact. However, the rapid collapse of Libra after his support led to skepticism about Mailey's aggressiveness in affecting the crypto market.
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The involvement of insiders like Hayden Davis in Libra has sparked concerns about market manipulation. Davis has admitted to using the transaction using private information. This is clearly a violation of the securities law.
Additionally, strategies that affect “sniper” or large amounts of price actions at launch were openly debated. This strategy led to a market capitalization crash due to insufficient liquidity following the intense insider sale. This operation lost confidence among retail investors and contributed to a decline in the market.
The financial figures related to the Libra incident are strict. This is the contrast of the fork-up between insider profits and retail losses. Market liquidation by big names to crush the dreams of small investors.
Furthermore, another political token, Melania, experienced similar insider activities. Insiders reportedly benefited millions of people from that. These pump and dump political tokens are due to the big dips in the market.
Warren Buffett once said: If you think about it, you'll do something different. ” The quote speaks of long-term damages that will result in short-term benefits through unethical practices.
This resonated with the actions of insiders in Milei and Melania, and sacredly influenced the market.
The darkest time is just before dawn: the bull run continues
The event has had a major impact on today's recession in the Argentine cryptocurrency market. This picture shows the complex interaction of economic policy, insider trading and market dynamics. Although the immediate impact has been negative, the historic pattern suggests that such a recession could be milder before a rising storm.
After the Bitcoin Harving event in April 2024, the market remains on long-term consolidation and minor modifications. This pattern usually leads to a bull run.
This is the 2017 Bull Launch Chart in Context. pic.twitter.com/bpkrj2dfsr
– Michael Sayler
Founder of MicroStrategy (Parody) (@saylorsatsire) January 18, 2025
Similarly, before the monumental bull run of 2017, .cwp-coin-chart svg pass {stroke width: 0.65! }
price
24 hours volume
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->
Price 7d
Prices surged from under $1,000 to nearly $20,000, with a correction to the killer market.
Historical trends provide a background to understanding current market dynamics. Remember that recessions can become part of a bigger cycle.
Explore: 15 new and upcoming Coinbase lists to watch in 2025
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Key takeout
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Milei sand single grain flipped the Libra code scale.
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The darkest time is just before dawn. The bull run continues.
Midas, the opposite of Argentina, touches currency: Why is the code down today? It first appeared in 99 Bitcoin.
