I just now looked at coinmarketcap.com again and the current market cap is listed as $489 Billion. This is a large chunk of money pulled out of cryptos across the board.
Is that money pulled out, or lost value?
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As far as I know loss of value can only occur by the currency moving around. So it would need to be pulled out.
Agreed. Price goes down when everyone is selling. So that is real money that has left the market. But fear not, it will be back and this is an amazing time to buy this correction.