Analyst: Cryptocurrency Collapse Is Final Shake Out Before Moon

Last week, the cryptocurrency market valuation was cut in half in less than 48 hours, wiping out over $100 billion value.

The catastrophic collapse, however, could be the final shakeout before “moon,” according to one crypto analyst who bases the theory on the fall acting as a retest of downtrend line support – support that has held strong.

Cryptocurrency Market Loses Half Its Value in 48 Hours

The cryptocurrency market, along with traditional markets, was a complete and utter bloodbath last week.

The Dow Jones set a record for its largest drop since 1987, and the total cryptocurrency market cap was cut in half in under 48 hours. Bitcoin itself fell from $7,200 to under $4,000 during this historic selloff.

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Investors are in a panic over the potential implications the coronavirus will have on daily activities, the economy, and possibly their health.

But any investors selling now, according…