The worst fall of virtual currency
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.
the price of bitcoin is determined by supply and demand. When the demand for bitcoin increases, the price of bitcoin rises; As demand decreases, prices fall. At present, only a few bitcoins are in circulation, and new bitcoins are issued at a predictable rate of graal decline, which means that demand must follow this inflation level in order to maintain price stability. Compared with the market scale it may become, bitcoin is still a relatively small market at present. It does not need a lot of money to make the market price fluctuate up and down. Therefore, the price of bitcoin is still very unstable.
with the rapid rise of bitcoin, Leyte and other digital currencies, Ruitai currency has been stagnating. Is it ready to go, or is it just in a moment.
Since the advent of bitcoin, it is very likely that no quarter has performed as badly as the first quarter of this year
according to the website coinmarketcap, which tracks the price and market value of several digital currency exchanges, the trading price of bitcoin has dropped from above $14000 on January 1 to less than $6900 as of the time of issue, with a decline of more than 50%, and the market value has dropped from nearly $239 billion to about $115.5 billion
In fact, bitcoin is only the epitome of the overall performance of digital currency. After the closing of the last trading day of U.S. stocks in this quarter, an article on Wall Street on the morning of the 30th mentioned that the performance of digital currency in the first quarter was the worst in history, and bitcoin fell below the 200 day moving averagejust at 6 a.m. Beijing time on the 30th, bitcoin also fell below the $7000 level. When it fell below $7500 on the evening of the 29th, Wall Street mentioned that some analysts pointed out that bitcoin was close to the "death cross", that is, the 50 day moving average was close to lower than the 200 day moving average. From a technical point of view, this often means that the asset will go down further
in addition, negative factors such as regulation also put pressure on bitcoin and other digital currencies. For example, when bitcoin fell below $8000 two weeks ago, Wall Street heard that the media said that the US Securities Regulatory Commission issued subpoenas and concted investigations on digital currency hedge funds, and Google announced the ban on ICO and other digital currency advertisements
Coincidentally, in the early morning of the 30th, it was also reported that LinkedIn, a professional social network, will start to ban digital currency advertisements such as ICOhowever, from a technical point of view, some people say that the situation of bitcoin is not so bad
Brian Kelly, a trader atfast money, believes that if the support line can continue to play a supporting role, the upward trend since last August has not actually changed
Forbes columnist Frank Holmes said that, just like the financial assets such as the U.S. stock market, bitcoin is bound to have a strong recovery after a big drop
therefore, it is normal for someone to engage in speculation.