Now Loading

THE CRYPTO MARKET COLLAPSED BY NEARLY $2.7 T WEAKENING EVANGELISTS POSITION

THE CRYPTO MARKET COLLAPSED BY NEARLY $2.7 T WEAKENING EVANGELISTS POSITION

The crypto crash, and especially Bitcoin, has given voice to critics of digital currencies.


Despite the controversy over the fact that the secret money is a scam, critics and skeptics follow the coin and the token evangelists.


In many cases their attacks, many on social media, have led to past statements of supporters of crypto currencies and especially Bitcoin. So they challenged them with a simple question: What now?



The question is based on the fact that the cryptocurrency market has seen nearly $ 2.7 billion deleted since hitting the $ 3 trillion high last November, according to data company CoinGecko.


Bitcoin has dropped by more than 70% since November

Bitcoin, the king of cryptocurrensets, has lost more than 70% of its value since November 10, the day of its total high of $ 69,077.44. The most popular cryptocurrency currently trades for about $ 20,657.77.




Ether, the second-largest digital currency in the market, fell 77.6% from November 10 when prices reached $ 4,878.26. Ether is currently at $ 1,094.06.


After silence about the crash, the evangelists now respond. Sometimes with jokes, sometimes as a reminder that the industry has already gone through hard times and gone.


The biggest promoter in the crypto industry is undoubtedly Elon Musk, CEO of Tesla (TSLA) - Discover Tesla Inc. Report, its tweet about cryptocurrency could affect its price. When Tesla announced on February 8, 2021 that it would invest $ 1.5 billion in Bitcoin, digital currency increased. This was a great sign of trust from the newly acquired Bitcoin company.


Musk also changed the fate of Dogecoin, a meme coin created as a joke. Dogecoin owes most of its current value in support of the world's richest man, industry sources say.


Tesla and SpaceX - a rocket company founded by Musk - accept Dogecoin as payment for their products.



A few days later, the serial entrepreneur did not comment on the crypto crash despite requests from his fans. But he has just come out of his park.


On June 15, Dogecoin co-ordinator Billy Markus posted the following message on Twitter accompanied by a popular cartoon on social media.


"🎵 end of the world as we know it 🎵


🎵 and I feel good 🎵, "Markus wrote.


“True,” notes Musk.


It was the only word he had.



The millionaire did not respond to comments from his fans who wanted to know more.


'Play a long game'

Tesla’s $ 43,200 Bitcoins total $ 903.493 million, compared to the $ 1.5 billion originally invested. The manufacturer of electric vehicles has lost about $ 600 million.



As for Cameron Winklevoss, he and his brother Tyler are on tour with their rock band Mars Junction. So far, the two brothers have not commented on the rise and fall of the crypto market, but Cameron broke that silence by stating:


"The 2022 bitcoin lows are the 2017 bitcoin highs," the billionaire said on June 15. He then advised investors to "Play the long game."



According to the record, 2017 has been the latest controversy for Bitcoin maximalists, in other words supporters who are convinced that Bitcoin is the future of money.


Veterans of the Crypto industry recall that in 2017 considering the crypto gold era before 2021, Bitcoin had reached a high of $ 19,511 by the end of the year. This record was the culmination of an unprecedented bull race. Bitcoin is currently at $ 20,657.77, more than the record set in 2017.


Billionaire Michael Saylor, one of the most talked about Bitcoin publishers, continued to tweet his short tweets despite his software company MicroStrategy (MSTR) - Get MicroStrategy Incorporated Report seeing its investment in the king of cryptocurrencies melt. His latest tweet responds to critics:



"#B Bitcoin is a solution to the crisis," Saylor wrote on June 16.


Basically, the crash does not change his belief in Bitcoin.



MicroStrategy holds 129,218 Bitcoins in its total purchase balance of $ 3.965 billion. This investment is worth only $ 2.654 billion at the time of writing, according to Bitcoin Treasuries. Basically, the value loss is $ 1.3 billion.

Source: yahoo




How do you feel about this blog?

0 Comments

Leave a Reply