$6 Billion gets wiped out the cryptocurrency market

[tunapa]

This is not a new thing  . Funds are being moved in and out of the market at everytime.  Thanks one of the cause if price increment or decrement in different coins.  So this is no negative or a strange action.  It happens everytime you should be used to it. 

[Collinberg]

If there is one thing j can say with full certainty and conviction about the crypto market, it's that the market is very volatile and even if it loses a large chuck of funds in a period of 48hrs, it can turn around and regain then in 5mins.

[leetcoiner]

I heard a news about,
$6 Billion gets wiped out of the market capitalization the cryptocurrencies between November 7th and November 9th 2018( within 48 hours).The valuation of this highly volatile market fell from $220 billion to $214 billion within this period.

So, what do you know about this, and what will happen to the price of the bitcoin ?

It's just a rumor. I do not know where they come from, as he recently heard that China has legalized bitcoin and introduced its use at the state level. After a simple search revealed that this is a common fake, although the resource that reported this is very influential and serious. This also happens-check the information.

[pixie85]

It has the same impact on the price as that rumor that somebody bought a couple million tethers and people were writing articles that suggested they're getting ready to buy Bitcoin. Nothing happened nobody moved the price so the money went into many different cryptocurrencies or stayed in tether. You're worrying too much. Don't start thinking about every single market action, it's a waste of time.

[DennyPen]

I heard a news about,
$6 Billion gets wiped out of the market capitalization the cryptocurrencies between November 7th and November 9th 2018( within 48 hours).The valuation of this highly volatile market fell from $220 billion to $214 billion within this period.

So, what do you know about this, and what will happen to the price of the bitcoin ?

Not too much money needed to wipe out $6 billion, although it may seem so. That's just how capitalization is counted and works in this market. When someone sells a lot of btc, the whole market goes down and shows figures that don't reflect the actual amount of "sold money."

[mazdafunsun]

I always find it funny when people use this kind of headlines, its is like market never gained or lost 5 or more billion USD over few days.

This is nothing special, market is moving as always thats it.

[teejayrichard2]

well , i know seeing this is disturbing and frigthening but doesnt affect our stance on bitcoin. We will hold our bitcoin and wait for price to rise again.