As we enter the tenth month of the year, the cryptocurrency market continues to struggle, having already lost over $213 billion in total capitalization since the start of the week. Most of this decline is of course due to the market’s flagship Bitcoin failing to break through a key dynamic resistance level at $66,000.
The negative price development was accompanied by panic among market participants due to the deterioration of the geopolitical situation in the world.
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As a result, the prices of 99% of cryptocurrencies plunged into the red and continue to do so for the fourth day in a row, causing disappointment and testing the nerves of crypto enthusiasts.
Memes to collapse
One of the prominent representatives of the crypto space is Billy Markusknown by the nickname Shibetoshi Nakamoto, who participated in the creation of the major cryptocurrency Dogecoin (DOGE), could not escape the current situation and provided a pretty epic comment.
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Markus-Nakamoto, in a recent post on the social network of unstoppable madness, the market responds with a famous Captain America “post-age” meme phrase from the film “Avengers: Endgame” (2019).
Markus’ disappointment is understandable, as it is shared by other traders and investors who believed in Uptober. There was no festival of green candles on the charts, and it appears that this disappointment is only pushing Bitcoin and other digital assets lower.
