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$200 Billion Exits Crypto Space as Markets Plunge to Support
The crypto market has witnessed a significant downturn, with over $200 billion in assets exiting the space in just 24 hours. This sudden and drastic decline is likely to send shockwaves throughout the sector.
As of February 25th, the total cryptocurrency market capitalization has plummeted by an astonishing 8%, with many investors finding themselves caught off guard by the rapid downturn. The value has fallen below $3.1 trillion for the first time since November, erasing nearly all gains made since Donald Trump’s election in 2017.
Despite this drastic decline, analysts are remaining unfazed and advising traders to stay calm amidst the chaos. In fact, similar market meltdowns have occurred numerous times before in recent months. This includes a 7.5% crash on December 9th, another 10% meltdown on December 19th, an 8% dump on January 7th, and yet another 8% drop on February 2nd.
One macro investor, Raoul Pal, pointed out that such massive pullbacks have occurred in previous cycles and are perfectly normal. He cautioned investors against panicking and emphasized the importance of learning patience during turbulent times like these.
Source: https://cryptopotato.com/200-billion-exits-crypto-space-as-markets-plunge-to-support/
