The cryptocurrency markets continued their downward trend Tuesday following yesterday’s “Monday Massacre.” The total market cap of all cryptocurrencies has fallen by more than $25 billion since peaking at $117 billion in mid-June. Once again, bitcoin and ethereum are leading the retreat, and the altcoins are marching behind, lining up in formation.
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some big players made alot of money cashing out - creates panic everyone sells - they make more money and then they buy again price goes up and they sell - creates panic and the circle continues.... classic trend
You are correct, this will panic for new traders and miners who just started and made small investments.
have a look at my blog and give me a follow if you are interested
done!
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