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ELON MUSK AND JEFF BEZOS LOSE TENS OF BILLIONS IN THE CRYPTO CRASH

 In the last few weeks, the crypto market seems to know only one direction - down. Now there was a violent crypto crash, which caused the prices of many crypto currencies to collapse sharply in a short time. As a result of these fluctuations, Elon Musk and Jeff Bezos collectively lost tens of billions of dollars to cryptocurrencies and other tech assets. 


Elon Musk is considered the richest person in the world. With a fortune of around 250 billion, he was able to overtake the founder of Amazon, Jeff Bezos, a few years ago. Musk's influence continued to grow, mainly due to his affinity for technology.




The crypto market was also able to feel this influence a few months ago, when a few Twitter posts by Musk meme coins such as Dogecoin or Shiba Inu briefly experienced an enormous price boost. Jeff Bezos currently has a fortune of around $170 billion, which he achieved through his success story with Amazon.


Well, a few months after the hype surrounding meme coins, which have no real use case, there is a downward trend in many cryptocurrencies. A few days ago, an enormous amount of capital was withdrawn from the market, which is why many are talking about a crypto crash. Let's look at the market capitalization of all cryptocurrencies together, it is noticeable that the downward trend has increased enormously in the last few days.



Due to their high positions in tech stocks and cryptocurrencies, the crypto crash also hit Elon Musk and Jeff Besos hard. The Tesla founder lost about $25 billion and Besos about $20 billion. For most people, these are buzzes that many can only dream of.


In this context, if we look at the Bitcoin chart, the strong fluctuation in the largest and oldest cryptocurrency becomes clear. Within two months, the price of a bitcoin fell from 58,000 euros to 30,000 euros. Since the downward trend has been evident, the entire cryptocurrency market has also been falling. Therefore, the crypto crash could be due to a decline in Bitcoin.



Although the profits from Altcoins can be significantly higher, they also bleed more when Bitcoin as the leading currency falls. Many beginners are not aware of this connection. There could also be a bear market due to the euphoric past year. Although the price of all cryptocurrencies drops sharply in this market phase, there are always the best options for entry at this time.

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