Major

Rally

Celsius

The crypto rally and market’s newest highs are bringing more than just gains. They’re signaling a victory for investors who weathered years of turmoil. 
When Bitcoin garnered an all time high at $89,000 following Donald Trump’s re-election, analyst Ash points that this is a ‘well earned’ rally, notwithstanding the many storms of upsets. 
Bitcoin has skyrocketed from $68,357 to $89,604 within the week, breaking records and dragging the market along. Altcoins are not left behind either, Ethereum and Solana have especially had sizable increases. 
Specifically for the week, Dogecoin has surged by 200% gaining prominence along with Bitcoin as the market cap approaches $3-Trillion. 
For Ash, this is a metaphor for the spirit of investors who challenged nine major crises. While each crisis left the market in turmoil, hope persisted. 
<h2 class="wp-block-heading" id="strong-nine-major-setbacks-that-shaped-the-market-strong">Nine Major Setbacks That Shaped the Market</h2> 
The current rise wasn’t an easy ride, and there were many disasters along the way that led to the present successes. From it’s all-time high of $69,000 to dropping to nearly $15,400 at the end of 2021 – this began a new crypto winter. 
The Terra ecosystem erased $60 billion in May 2022 and its stablecoin UST lost its dollar peg; LUNA fell from $119.8 to almost zero. 
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 If you have survived – BTC crash from $69k to $15.4k – LUNA to $0 by Do kwon – 3AC going from $18bln to $0 – Celsius and voyager bankrupt – FTX / FTT Meltdown – USDC de-peg – Binance bank run – CZ stepping down – SEC suing everyone – 2 year bear market You deserve this pump.— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1856049983197458479?ref_src=twsrc%5Etfw">November 11, 2024</a>
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Three Arrows Capital, another crypto hedge fund worth $18 billion failed leading to other selloffs affecting the lending market. 
These problems were only worsened by bankruptcies at Celsius Network and Voyager Digital, two major lenders, that shook investors. 
The FTX crisis was another big downturn as <a href="https://www.thecoinrepublic.com/2024/02/08/ftt-token-price-forecast-will-ftx-price-break-below-1-level/">FTT, their native token, plunged</a> through the floor, taking related assets such as Solana down to under $10. 
<h2 class="wp-block-heading" id="strong-surviving-sec-scrutiny-and-market-instability-strong">Surviving SEC Scrutiny and Market Instability</h2> 
After these setbacks, the U.S. regulatory spotlight intensified. Enforcement actions by the SEC against Coinbase, Binance, and other major platforms amplified market volatility. 
Further disruptions came with the brief depegging of USD Coin (USDC) during the collapse of Silicon Valley Bank, and Binance faced a massive $1 billion outflow when the U.S. government filed charges against the exchange, leading to <a href="https://www.thecoinrepublic.com/2024/09/17/binance-founder-cz-set-for-release-from-us-prison-details/">ex-CEO Changpeng Zhao’s resignation and sentencing</a>. 
These events drove a two year bear market, sapping optimism and causing significant portfolio losses. Yet, as Ash points out, the crypto community’s resilience held firm. 
<h2 class="wp-block-heading" id="strong-why-investors-deserve-every-dollar-of-this-crypto-rally-strong">Why Investors Deserve Every Dollar of This Crypto Rally</h2> 
Ash contends that today’s rally is “well deserved,” a reward for the investors who held on. Ash stated, 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The fact that anyone is still here after all this—Bitcoin’s plunge, Terra’s crash, the SEC’s crackdowns—it’s a testament to crypto’s resilience.” 
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With Bitcoin’s current highs, investors are finally reaping the benefits of their patience. For those who endured, the rally feels like more than just gains—it’s validation, marking the dawn of a more seasoned and resilient crypto market. 
The post <a href="https://www.thecoinrepublic.com/2024/11/13/crypto-rally-earned-market-hits-new-peaks-post-nine-major-setbacks/">Crypto Rally ‘Earned,’ Market Hits New Peaks Post Nine Major Setbacks</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Crypto Rally ‘Earned,’ Market Hits New Peaks Post Nine Major Setbacks

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