The crypto market goes down for many reasons, and most of them are connected to fear, money flow, and global events. Crypto is still a young market, so price moves are often fast and emotional.
One big reason is high interest rates. When banks offer better returns on savings and bonds, many investors move their money out of risky assets like crypto. Less money coming in means prices fall. Another reason is profit taking. After a strong rise, many traders sell to lock their gains. When selling increases, prices drop. This is normal and happens in every market. Global uncertainty also plays a role. Wars, political tension, inflation, and economic slowdown make people nervous. In such times, investors prefer cash or safer assets instead of crypto. Regulation news can push the market down as well. When governments talk about stricter rules, taxes, or bans, fear spreads quickly. Even rumors can cause panic selling. Sometimes the market falls due to liquidations. Many traders use leverage. When prices drop, their positions are forced to close. This creates more selling and pushes prices even lower. Lastly, crypto often follows the stock market. If stocks are falling, crypto usually follows because big investors are active in both markets. Market drops are painful, but they are part of the cycle. Crypto has always moved in ups and downs. Smart investors focus on risk control, patience, and long term thinking instead of panic.
I am sharing details about a recent scam that happened to me. Please be careful.
I did P2P on Bitget and sent a payment of 99,000 PKR. First, the seller kept calling me many times on WhatsApp and asked me to send the payment through JazzCash. Then he said to send it through Upaisa. I had selected Easypaisa, but I still sent the payment through JazzCash.
After that, when I went back to the app, I received a notification that the order was cancelled. I got very worried. This happened today, the date is clearly visible. He said that after 12 o'clock the date changes, so there was some issue, and told me not to worry and that I would receive the payment within 20 minutes.
I kept waiting, but one hour passed. I called him many times, but he did not answer. Then I messaged him on the app. After that, he called me and said he had a customer with him. At that point, I understood that I had been scammed.
Then he said, “Wait 5 minutes.” I went to the Bitget portal and submitted a complaint because I had already sent the money, and it was not a small amount.
Later, I received a call and an email saying that Bitget had blocked his 2,000 dollar merchant account. He then told me to send him 98,000 PKR more. I told him, “Are you crazy? Get money from someone else or take a loan.” He kept insisting. I told him to do his job and release my payment.
He said, “This amount is small for me, my 2,000 dollars are stuck, what should I do?” I told him clearly that I did P2P, I made the payment, and I need my USDT. After that, he cut the call.
Since then, there has been no response from him at all. I have already sent many proofs to the Bitget exchange, including video proofs and everything, but I still have not received any good response. The number shown there is my Easypaisa number.
I am extremely worried and stressed. I do not even know how I will get through tonight.
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