Enormous $670 Million Destroyed on Market in 24 Hours as Bitcoin (BTC) Lost $55,000

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The enormous selling volume we are currently seeing is beyond the capacity of the market's liquidity. Due to the lack of liquidity, even modest sales volumes may have a significant effect on the price. It will be a difficult journey to recovery. It is unlikely that there will be a rapid recovery because of the large liquidations, large sell-offs from institutional and governmental sources and negative market sentiment overall. Preparing for a midterm bearish market might be a wise decision here.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.

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