Cryptocurrency 'Market Crash': Nearly 20 Billion USD Evaporated, Drop Comparable to '312'
This time the cryptocurrency market has plummeted particularly hard; calling it a 'historic decline' is not an exaggeration. The evaporated funds are close to 20 billion USD, with a severity that can be compared to the previous '312 crash'.
The main cryptocurrencies have seen declines beyond imagination:
• Bitcoin dropped over 17%
• Ethereum dropped over 22%
• SOL (Solana) dropped over 37%
• Dogecoin dropped over 68%
• UNI (Uniswap) dropped over 80%
Almost all cryptocurrencies have maximum declines exceeding 50%, with the market filled with 'panic selling'. This wave of 'black swan' events is the most severe in recent years.
Worse still, the decline has just begun, and many exchanges have collapsed, making it impossible for market makers to provide liquidity; those wanting to sell cannot do so.
However, there is no need to panic completely; there are a few points to consider:
1. The current panic has not yet dissipated; once emotions stabilize, the market may have a chance to rise.
2. Altcoins are unlikely to drop to lower prices, but mainstream coins like Bitcoin may still experience a further drop.
3. The market may undergo a 'second bottoming'; after this bottoming is completed, it may be a good opportunity to enter boldly, perhaps a chance for a turnaround.
Remember, 'opportunities are born from despair.' As long as you still have principal, don't lose heart; there will be opportunities ahead!
