Summary
- Analyst Jacob King warned that the cryptocurrency market could collapse quickly after a rapid upward trend.
- He stated that the market capitalization of FartCoin with the fart theme has surpassed $900 million, exceeding the value of many companies in the stock market.
- He pointed out that one should not approach Bitcoin and other cryptocurrencies with greed and naivety.
As the cryptocurrency market has recently shown a rapid upward trend, there are claims that the market could collapse as quickly as it has risen.
On the 17th (local time), Jacob King, an analyst at WhaleWire, stated on X (Twitter), "The current cryptocurrency market is like a casino. Everything has risen sharply, and it will collapse just as quickly."
He continued, "The market capitalization of FartCoin with the fart theme has surpassed $900 million, exceeding the value of most companies listed on the stock market. Maximalists believe that the price of cryptocurrencies, including Bitcoin, rises based on actual value, but that's not true. One should not think greedily and naively," he pointed out.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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