From the past month, the crypto market has shown different sentiments. Where people started willing to invest, bear market thrashing all the hopes.
A sunny day with some clouds overhead and cold breeze all over the town as monsoon hits July. But wait, not only monsoon but bear market too hit hard on investors.
Bitcoin, the world’s most popular cryptocurrency, triggered a technical sell signal over the weekend, signalling further decline.
When the 50-day moving average falls below the longer-term 200-day moving average, Bitcoin experiences a bearish “death cross.” Technical researchers and traders pay close attention to this signal.
While technicality is in its place, social media is gazing over the downfall for a longer time and can’t resist themselves to post their opinions.
After the glorious bull market witnessed by everyone, now people are watching their portfolios going down by more than 70%.What they gain during the uptrend, now losing all the money on the downtrend and people are going crazy about it.
People started selling their cryptos and bitcoins in fear of losing all the money after the china mining crackdown and ransomware alerts.
Meanwhile, HodL Community started posting memes hilariously on panic sellers.
While everyone is trying to pull their money off, some are still waiting for the market to recover and it’s funny and saddening simultaneously to see them in pieces.
Why Crypto Market Is Going Down so Vigorously?
There are many reasons but some of the recent reasons are:
• China’s crackdown on Bitcoin Mining.
• All the altcoins are directly affected by bitcoin’s movement. As bitcoin rises, the market rises and vice-versa.
• Due to the recent bull run, now the market started rectification by adjusting the real value of the coins.
Well, god knows what will be going to happen in future but, we will be there to serve you hot Twitter Talks and News.
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