Crypto Exodus

In the midst of the Turkish turmoil Bitcoin has continued the retracement lower post the summer rally we saw in July.

Bitcoin is down 70% from ATH and is once again down to big support levels from where the Crypto has bounced off before.

For some perspective of the Crypto exodus the below chart includes Ethereum (orange) as well, down 70% in 6 months.

Total market cap at highs for Cryptos was standing at 835 billion USD and is now down to 193 billion USD.

Cheap or expensive is something we don’t feel is applicable to the Crypto space, but the aggregate psychology surely provides great trading opportunity. People’s greed and fear never changes.

Source: charts by Bloomberg