Data: early August crypto market drop not one of the worst market pullbacks of the past decade
CoinGecko said in a post on the X platform that although the last four days of declines have caused the total cryptocurrency market capitalization to fall from $2.44 trillion on August 2 to $1.99 trillion on August 6, this drop is not one of the worst market pullbacks of the past decade as the daily decline is less than 10%.
Historical data shows that the worst pullback in the global cryptocurrency market occurred on March 13, 2020, when the crypto market plummeted 39.6% due to the New Crown epidemic scare. The total cryptocurrency market capitalization plummeted from $223.74 billion to $135.14 billion (DoD), compared to this year's biggest sell-off, which occurred in March and was down 8.4%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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