The crypto market was shaken two months ago when the SEC reported an issue with Binance, demanding 10 to twelve crypto among securities and alleging that #Binance had not followed trading rules and regulations. After only one day, the SEC targeted #Coinbase.

According to them, around 13 cryptocurrencies were unregistered securities. These were the bad news that caused the market to tumble. The crypto market has seen a significant price drop, and those that found the best buying chance did it at the lowest price. The SEC has become a huge issue for the crypto business, and they have once again targeted the crypto market, hoping to see it bleed.

According to the most recent news I saw yesterday and found on Google, the SEC is at it again and has urged #Coinbase to cease trading on all cryptocurrencies except Bitcoin. The SEC has demanded that all trading pairs be closed and the exchange be shut down. We thought the SEC issue with #Binance and #Coinbase was handled, and we would be done with this story.

But, after two months, the SEC is back with more bad news, requesting that Coinbase delist all cryptos other than #Bitcoin before suing the exchange. This is without a doubt negative news, and the market has already reacted in the near term. Following the announcement, Bitcoin falls from $29400 to $28400.

There are two ways to interpret this news and the SEC's action. One reason could be that they are observing a very strong market and there is no other way to cause a market dump, and the other reason could be that they want to generate FUD. They intend to reduce the price, instill fear in cryptocurrency consumers, and drive them to sell their holdings.

These are the two circumstances that I understand and will elaborate on further. The current pump a month ago that sent the price to $30K was a good climb, and we saw FUD created multiple times, but the market did not react. They attempted to sell the market, but the bulls were considerably stronger this time, having already faced a three-year bearish trend.

They are tired of the red market and do not want to continue with the bearish trend. That is why they are taking positions and looking for every dump to buy crypto coins at a lower price. This suggests that $29-30K has become the most powerful support. Even with today's news, the market responded briefly but swiftly rebounded.

Speaking with the alternative situation, they may desire to buy #Bitcoin at a cheaper price. They attempted this countless times before but failed each time. This time with more FUD to lower the market price, followed by buying favourable news and selling. They have realised that the bulls are now much stronger and that the market is just 10% likely to crash again.

This is the second scenario of this news, and they are still attempting to dump the market. Because they want to buy crypto coins at a lower cost in preparation for the bull run. That is how we came to learn of the SEC's demand that #Coinbase suspend all trading except #Bitcoin.

The market may be affected for a brief period of time, but the drop will not last. I expect Bitcoin to drop to $26K in the following days, which I believe will occur, but this is just my experience and opinion. We'll have to wait and see how Coinbase's SEO responds to the SEC's request.

This is my attempt to keep you updated on the most recent changes in the crypto realm. In addition, I highlighted the two likely outcomes of the SEC's announcement against Coinbase. I hope you find this post interesting and educational, and I hope you enjoy it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.

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