AlphaBTC's sudden downfallAll that goes up, must eventually comes dowm. Though a well known fact, it is always difficult to know why.
Apha Homora, a roaring DeFi platform that has witnessed meteoric rise for the past few months is taking a nose dive all of the sudden.
Following an exploit on Alpha V2 which let attackers utillizes flash load exploit to get away with large sum of money on CREAM.
A few days later, an article calling Alpha a downright scam because 96% of the tokens are still held by the development team.
In Alpha's defense, the tokens were held to be later release following a release schedule published earlier, but that does not stop the public from dumping the token to FUDs.
Technically speaking the Alpha/BTC is at an impasse, if the coin pumps up from here to make a new high then we could expect a super bullish wave 3 ahead.
If prices fall any lower then we could expect a few months of calm as price continues to move sideways down before hitting the W2 target.
On the long term, I am still bullish, but we'll have to wait and see
