More exchanges from China will be closing, total market cap will reach $100B

[cryptopreacher]

These days, including next week, I believe the rest of the exchanges from China will be announcing their closure, thus driving the whole cryptocurrency coins down even more. Currently, the total market cap is $119 billion. I expect it to dip to a bottom of $100 B, even lower.
What is your opinion?

[1715319842]

1715319842

[1715319842]

1715319842

[1715319842]

1715319842

[Doell]

These days, including next week, I believe the rest of the exchanges from China will be announcing their closure, thus driving the whole cryptocurrency coins down even more. Currently, the total market cap is $119 billion. I expect it to dip to a bottom of $100 B, even lower.
What is your opinion?

my opinion will not dip the $100 there that I'm fear if the market cannot be pulled out , because I'm not believe the market they could be deceiving because I'm not a person in that country I'm mean if the lid is where they might pay.

[aplistir]

I think the worst "shock" is already over.  That is the news, that they will be closing.

I predict, that the price will go a bit more down, and then stay there until some good news come, and people notice, that China is not that important to Bitcoin.

[cryptopreacher]

These days, including next week, I believe the rest of the exchanges from China will be announcing their closure, thus driving the whole cryptocurrency coins down even more. Currently, the total market cap is $119 billion. I expect it to dip to a bottom of $100 B, even lower.
What is your opinion?

my opinion will not dip the $100 there that I'm fear if the market cannot be pulled out , because I'm not believe the market they could be deceiving because I'm not a person in that country I'm mean if the lid is where they might pay.

6 days ago the total market cap was $164 billion, now it's $119 B

https://coinmarketcap.com/charts/

[coinzoid]

Obviously the news from China had an effect on price. But my thinking shows that a lot of people still try to convince themselves not to sell.

[cryptopreacher]

Obviously the news from China had an effect on price. But my thinking shows that a lot of people still try to convince themselves not to sell.

Well, as bitcoin and the cryptocurrency coins in general have spread these days, thus reflect in the huge volume/market cap, I believe the price is more news-driven which makes it more sensitive, therefore my initial assumption in the first place.