November 27th 2020 - Carnages

in LeoFinance •  2 months ago 

Screenshot_20201127 CryptoCarnage  Bitcoin Is Down 500 From Overnight Highs1.png
If you happened to regularly follow Zero Hedge, you are most likely to be familiar with the phrase "Crypto Carnage". The phrase, which was, more or less adopted by mainstream media in their regular coverage of crypto markets, is describing an event that is all-too-familiar and not so seldom experienced by anyone interested in cryptocurrencies. What happened in past 48 hours, with Bitcoin price refusing to reach All Time High and instead going more than 15 perecent down, had been happening a lot during its history. And, most importantly, even during bull run periods.

Needless to say, overuse of such phrase is going to make a lot of cryptocurrency enthusiasts and, especially those of HODLing persuasion, jaded and insensitive, and the word "carnage" is going to lose a lot of its power. Unfoturnately, as this recent Leofinance post reminds us, in the economic spheres not directly related to crypto word "carnage" hasn't lost its macabre meaning. In the real world, where hundreds of millions are losing their jobs, big national economies are contracting like never in centuries before and perspectives for any sort of decent pre-COVID life seems grim, "carnage" isn't something that could be erased with couple of green hourly candles.

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