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$64 Billion Has Been Wiped Out From The Crypto Market, Traders Think “This Is Only The Beginning”

The past seven days are days crypto traders never wished to see in their lifetime again, having tested how the bear market looks like in the previous years. The tragedy took everyone by surprise, but what are we gonn do about it? Nothing!!! We are all in for the technology I guess so we have to let nature take its course.

It all started like a film trick seeing Bitcoin and almost all Altcoins depreciating massively in price last week only to discover that this week’s decline in price is even worse than last week’s. Last week the lowest Bitcoin could go was around $5,270 but this week it is currently sitting on $4,673 shaking off an additional 14%  from its last week price since the bear began.

Twitter is recently filled with comments from sentimental traders, you can call that bad vibes!!! These are people who got in because of the money forgetting totally what they knew about crypto (a high risk investment opportunity) before they finally joined the train. Some even threatened to commit suicide while others disclosed that they are and out for good. At first, why would one put all he has in something he knows fully well is considered a risk?

Total market cap according to CMC is currently $151 Billion, the lowest we have seen for the past 365 days. Other Altcoins also saw significant losses ranging from 10-20% in addition to one we saw last week, but XRP still remains the best performer in this bear ride, its loss could only account for 0.33% trading at $0.47.

In the midst of all these confusions, I think I will leave you guys with this wonderful quote from @iamjosephyoung and @officialmcafee

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