Reasons for the recent collapse of virtual currency in August

1. The value of virtual currency is reflected in "more people recognize it". At the beginning of any instry, there will be savage growth. Take bitcoin as an example, the peak price of bitcoin is close to $2W, and the current price is only about $6500
in the current situation, blockchain is not a mature technology. What the market values is the so-called prospect, and it will take time to improve and excavate it slowly. However, the collapse of virtual currency is just a return to its own value
in short, I think bitcoin will continue to grow slowly after falling below a certain price. The current slump is just that the funds attracted by the previous heat have discovered the characteristics of virtual currency (hacker attack, dealer trading, these two situations will probably only appear in the newly issued currency, which is determined by the characteristics of blockchain, in other words, Hackers may also attack bitcoin in the early stage, but the more people and nodes bitcoin enters, the lower the probability of this situation, and the more difficult it is to generate)
in addition, I think that a large number of people in China even don't know what bitcoin is, so they are ready to make a fortune with money.

2.

Stupid tax

reason 1: the volatility of virtual currency is too large to become a trading means. The huge volatility problem is structural e to its fixed supply and unstable demand. The flaws in this design mean that it will not be a winner in the cryptocurrency war

reason 2: the energy consumption of virtual currency mining is a waste

reason 3: the security of virtual currency is weak, and quantum computing may make it worse

reason 4: the rise of virtual currency promotes illegal activities and redistributes wealth from the formal economy to the shadow economy. It's only a matter of time before the government gets involved

partial topic

My IQ ensures the safety of my basic property; My appearance further ensures the safety of my trip

3. In winter, don't come in, especially Shanzhai coin. 90% of the so-called good projects went crazy in June. Bitcoin, Ethereum and other real virtual currencies can be bought for speculation, which has gone crazy in the last half month.

4. There are many reasons for the rise, the most important is the team hype, keep up with the trend of trading, do not greedy high; The second is the degree of recognition from the outside world. The higher the degree of recognition, the more stable the price is. There may be slight fluctuations in the short term, but there will not be much loss in the long term. The main reason for the decline is that the currency market recognition is not high, or there are new projects outside to attract players to throw money and transfer to the external platform. Pure hand play, hope to adopt.

5. Maybe everyone has a dream of "getting rich overnight", but no one has ever thought about "going bankrupt overnight"
in fact, this does not mean much to us. After all, we have never experienced "sudden wealth". How can we talk about "bankruptcy"
bitcoin can be regarded as an imperial presence in virtual currency, and the price of each one is amazing
after bitcoin plummeted some time ago, I saw a very interesting passage:
a friend in the coin circle was still talking about buying a house in the second ring of the imperial capital last year. When I met him today, he said to me: Hello, this is your take out
people who once relied on bitcoin and were worth billions of dollars have fallen to this point in just a few days. How can we not let people sigh
12% in a day, 42% in a month, 77% in a year, and 1.6 trillion in evaporation, no less than the magnitude 10 earthquake
bitcoin, which has doubled 25 million times in the past eight years, has now become a boundless hell struggling to survive
at the end of 2017, the high price of US $20000 was amazing,
10 bitcoins can buy a Mercedes Benz S500,
100 bitcoins can buy a three bedroom apartment in Shenzhen. It doesn't look like much, does it
but in 2009, one dollar could buy 1309 bitcoins. Do you think you missed dozens of billions
however, as we approach the end of the year, bitcoin has become a sad and helpless topic
at the beginning of bitcoin's decline, most people scrambled to get the bottom, but did not think that it was like jumping into an endless abyss, the bottom was broken again and again, and it was just between your thoughts that you lost everything
for the sadness of currency speculation, those who don't will regret it even more
in the past 11 years, I knew that someone had asked for 6800 financial procts on hand
but in the end, instead of buying bitcoin, she spent it traveling
if you buy it, it will be worth about 100 million at the end of 17! Even if it's 4000 dollars, there's 20 million
it turns out that most of the time, we just miss hundreds of millions of properties, but we don't know it
if we want to make money, the stock market and real estate market are all weak, where can we compare with the bitcoin market
of course, some people have studied that every sharp fall of bitcoin will predict the next sharp rise:
in November 2011, US $30 fell to US $2, a 93% drop
in December 2013, it dropped from $1166 to $170, a drop of 85%
since 2017, it has fallen below $4000, a 77% decline
it means that every fall will be followed by a more violent rise
however, many people will suffer from Stockholm syndrome after being locked up. The more they are locked up, the more convinced they are of the scarcity of bitcoin, and then they will surely usher in a ten thousand times soaring future
after all, most of the time, people who rely on bitcoin to make a fortune are not willing to believe that they will lose money
stock god Warren Buffett once warned us: bitcoin is a mirage, a way to transfer funds, and the quadratic power of rat poison. Cryptocurrency has no bottom. What you can do is to stay as far away as possible
we don't know whether bitcoin will continue to fall or soar overnight in the near future. All we can do is wait and see
admission? It depends on your own choice. After all, every financial management has its own risks
be cautious when entering the market. This sentence is not only applicable to the stock market, but also to the bitcoin circle
but as the saying goes: if you are brave enough, if you are hungry enough, you can decide for yourself! Mi Xiaoli, a new way of life.

6. Yes, it can always be invested.

7.

The qualification license of game text includes the issuance of virtual currency. The issuance of virtual currency is within the business scope of the text. At present, the approval of game text has been suspended. If enterprises want to use this certificate to operate, they need to buy shell companies

certificate case

8.

the central bank operates in the foreign exchange market and provides foreign exchange liquidity to the market

a spokesman for the central bank said that China's foreign exchange reserves fell sharply in August, which was the result of multiple factors. According to the data released by the central bank earlier, China's foreign exchange reserves decreased by 93.9 billion US dollars in August, a record monthly decrease

from the change of foreign exchange reserves in August, there are three main influencing factors: the central bank operates in the foreign exchange market and provides foreign exchange liquidity to the market; The foreign exchange reserve entrusted loan project made some capital withdrawals in August; In August, the prices of some major financial assets in the international market recovered to varying degrees

Further information:

related information of RMB exchange rate:

1. China's economy will continue to maintain medium and high speed growth, current account will maintain surplus, and foreign direct investment and foreign investment will continue to grow. China's foreign exchange reserves are abundant. With the continuous improvement of RMB exchange rate formation mechanism and the promotion of RMB internationalization, it is normal for China's foreign exchange reserves to increase or decrease in the future

2. When the foreign reserves decrease to a certain extent, the central bank will no longer have room to intervene in the foreign exchange market by consuming the foreign reserves, and it is expected that the central bank will allow the graal and orderly depreciation of RMB in the future

Due to the strong expectation of the Federal Reserve to raise interest rates, the pressure of RMB devaluation continues to increase. Many institutions predict that with the further release of RMB devaluation pressure, the central bank will continue to take action to control the exchange rate, and the stock of foreign exchange reserves will be reced in the future

9. Two things have happened recently. One is the rection of US dollar interest rate, which brings about the rection of global interest rate and may lead to global inflation. Another thing is that the United States has increased taxes on Chinese goods, which has led many countries around the world to increase taxes on Chinese goods, and China's foreign exchange income has decreased. These are two external causes. In addition, China has been issuing additional currencies, resulting in the devaluation of the RMB to 7. Before that, the RMB has been hovering around breaking 7. However, since the US dollar raised interest rates at that time, the tariff on China was still in the stage of negotiation. Trump also sent a signal that there were some talks. As a result, trump has turned back and explicitly increased the tax on China. In addition, some countries have followed the example of the United States in increasing the tax on Chinese procts. As a result, Chinese procts are not easy to sell. These two events have only recently erupted. It is not surprising that the RMB broke 7, but it is expected. It is possible to break 7.5, 8 or even 9 in the future
if the state forcibly intervenes, it is OK to control it within 7. But at present, it seems that maintaining the exchange rate is of little value, so the country did not intervene this time, and simply let the exchange rate break 7
the devaluation of RMB against the US dollar is good for China, because China is a creditor of the US, and the depreciation of US dollar interest rate means that the US has less money to return to China. On the contrary, with the devaluation of RMB, the United States has to pay more money back to China. The timing of RMB devaluation coincides with the change of Trump's attitude towards China. It's hard not to let people daydream about the cause and effect of the two
2019 is an unprecedented and wonderful year for China. Let's see how China can break the game.