This downturn will have two main scenarios

One scenario — a continuous decline to around 1K, very unlikely
The other scenario — a bounce near 1700
which is happening right now
And also this year, due to the implementation of regulatory bills
there will be another very strong decline
and probably another one
But before actual implementation
there is usually a wave of recovery first
This is market inertia
as well as emotional recovery
The real test
will come after clear rules are established
If the bill is officially enacted
centralized exchanges
will face regulatory pressure
The future standards
will only focus on Coinbase
The capital market requires
transparency, auditing, custody, segregation, and compliance with regulatory requirements
If standards are not met
or need to be corrected
or exit the market
Then
many altcoins
will not fall
but will lose trading scenarios
If liquidity disappears
the price will naturally drop to zero
Centralized exchanges
will undergo structural reorganization
Private coins
under strict regulation
will face even greater survival challenges
This is not an emotional assessment
but regulatory logic
A bull market can be supported by liquidity
but for long-term stability
rules are necessary
#ETH