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The public channel had more than 109,000 subscribers, Judge Hui said. Ng had the power to remove or amend the messages in the channel, but he “allowed them to exist.” Just as the Bitcoin turmoil continues, crypto traders have taken to Telegram to voice their feelings. Crypto investors can reduce their anxiety about losses by joining the “Bear Market Screaming Therapy Group” on Telegram. The court said the defendant had also incited people to commit public nuisance, with messages calling on them to take part in rallies and demonstrations including at Hong Kong International Airport, to block roads and to paralyse the public transportation system. Various forms of protest promoted on the messaging platform included general strikes, lunchtime protests and silent sit-ins. So far, more than a dozen different members have contributed to the group, posting voice notes of themselves screaming, yelling, groaning, and wailing in various pitches and rhythms. Just at this time, Bitcoin and the broader crypto market have dropped to new 2022 lows. The Bitcoin price has tanked 10 percent dropping to $20,000. On the other hand, the altcoin space is witnessing even more brutal correction. Bitcoin has dropped nearly 60 percent year-to-date and more than 70 percent since its all-time high in November 2021.
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