Bitcoin's recent slump
according to the Japan finance agency, all virtual currency exchanges in Japan will be investigated to prevent capital outflow. Because of the hacking of coincheck trading system of Japan's cryptocurrency exchange in the early morning of the 26th, Kyodo News Agency reported that coincheck had seen capital outflow
the financial department intends to make all exchanges implement security measures to prevent the outflow caused by illegal network intrusion. It can be said that the whole financial market is closely monitoring bitcoin recently, and these moves are bound to cause great chaos to bitcoin and the whole virtual money market.
On April 18, it was reported that the price of bitcoin had soared for a time, once exceeding US $64000. Today, bitcoin suddenly plummeted, once falling by more than 15%, the price fell below US $52000 / piece
for the sudden collapse of bitcoin, some analysts in the instry believe that it may be affected by the latest news that the US Treasury Department has accused several financial institutions of using cryptocurrency to launder money
affected by the sharp fall of bitcoin, other digital currencies have declined to varying degrees. Ethereum plummeted 20%, coin an plummeted 17%, reborn plummeted 26%, and even Musk's favorite dog coin plummeted 19%
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experts said that the slump is a normal phenomenon:
"in fact, the slump of bitcoin is just a normal phenomenon in the market." First of all, bitcoin itself is a kind of high-risk emerging asset, and its daily price fluctuates a lot, and it is often prone to sudden rise and fall, Li William, chief researcher of Ouyi okex Research Institute, told reporters. Secondly, from an empirical point of view, the withdrawal in the bitcoin bull market is about 33% - 66% of the basic trend direction, lasting for a week or several weeks
according to him, even though bitcoin has entered a bull market since January 2021, with a cumulative increase of nearly 2 times, it often falls sharply, with the biggest daily drop of more than $5000 for at least 7 days, and the biggest daily drop of more than $10000 for two consecutive days on February 22 and February 23
William Lee further said, "from the fundamental point of view, this round of bitcoin slump also has regulatory impact. On Friday, Turkey's central bank banned the use of cryptocurrency and cryptoassets for payments, citing possible "irreparable" damage and trading risks. Shortly after the news, bitcoin fell about 4%. For investors who have entered the market early and hold a large number of bitcoin chips, they have made a lot of profits at this time. In the case of unclear supervision in the future, it may be the best time to choose to sell bitcoin and leave the market, which triggered a subsequent slump. "
some people say that this is the result of other people's manipulation, but in my opinion, few people can directly control the bitcoin market
for those small partners who like to invest, they should often hear conspiracy theories. For example, a slump is the result of someone else's manipulation, and every surge is the result of someone else's pull-up. I think this idea is untenable, because the market of bitcoin can't be controlled by an indivial, This is a comprehensive reflection of the global economy
bitcoin plummeted $8000 an hour US $8000 is not a small number, because we know that bitcoin's current market is about US $50000. For those small partners who take over bitcoin at a high level, US $8000 means a withdrawal of almost 20%. This range is hard for many normal investors to accept, and many small partners with poor psychological quality are very scared{ RRRRR}
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In fact, this is a totally wrong way of thinking. If the price of bitcoin falls, it means it's not far from cool. Then I am in this world all commodity prices fall, is this instry basically finished? We can't judge the form of an instry simply by the rise and fall of prices. Now let's talk about the impact of bitcoin's price decline? What causes it to fall{ RRRRR}
Third, how to look at the future trend of bitcoin
bitcoin will definitely experience several big falls in the future, and return to a more rational level. After all, its price rise was too high before. And most importantly, other countries have already started to develop their own digital currencies. Once these digital currencies are implemented, the status of virtual currency will be shaken
Bitcoin has plummeted by nearly 20%. It can be said that the prices of virtual currencies are falling rapidly overnight. Not only bitcoin, but also dogcoin Ethereum are falling rapidly, because there are more and more virtual currencies. And so on burst positions, the bulk traders continue to withdraw from the outside{ RRRRR}
according to the information released in the global market, governments of all countries have introced some new policies to strengthen the management of these virtual currencies and cryptocurrencies, which is not good news. Because strengthening management means monitoring these virtual currencies more and more strictly, we can't fluctuate, go up, go down or buy them at will like before, which may cause the price to fall rapidly