Preface:Do you still remember that night in April this year, when Bitcoin (BTC)When it broke the historical high of $68000 and made countless cryptocurrency investors cheer?Do you still remember that morning in June this year,When Bitcoin fell below the important support level of $30000, causing countless cryptocurrency investors to panic?Do you still remember that moment in the early morning of today, when Bitcoin plummeted again,At one point, it broke through the $26000 barrier, leaving countless cryptocurrency investors with no return?If you are someone who follows Bitcoin, then you will never forget these moments.Because these moments are all the profound impressions that Bitcoin left on us in 2023
Preface:
Do you still remember that night in April this year, when Bitcoin (BTC)When it broke the historical high of $68000 and made countless cryptocurrency investors cheer?
Do you still remember that morning in June this year,When Bitcoin fell below the important support level of $30000, causing countless cryptocurrency investors to panic?
Do you still remember that moment in the early morning of today, when Bitcoin plummeted again,At one point, it broke through the $26000 barrier, leaving countless cryptocurrency investors with no return?
If you are someone who follows Bitcoin, then you will never forget these moments.Because these moments are all the profound impressions that Bitcoin left on us in 2023.
Why is Bitcoin, a cryptocurrency known as digital gold, decentralized currency, and future payment method, experiencing such drastic fluctuations?Why are so many people making or losing money in it? Why are so many people full of confidence or doubt about it?
This article will reveal the truth behind the early morning crash of Bitcoin,And where it may go in the future.
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According to data surveys, Bitcoin began a significant decline around 3am Beijing time on September 28th,From approximately $27000 to approximately $26000, a decrease of over 3.7%, reaching a new low in nearly two months.
In the previous day, Bitcoin had already fallen by nearly 5%, from about $28500 to about $27000. In this way,Bitcoin has accumulated a decline of nearly 8.8% within 24 hours, with its market value shrinking by nearly $50 billion.
So,What caused Bitcoin to plummet so dramatically?According to multiple analyses and reports, there are several main reasons.
The United States plans to impose stricter regulations on cryptocurrencies. According to the Wall Street Journal, US Treasury Secretary Janet Yellen stated on Monday that,She will collaborate with other regulatory agencies to develop a "comprehensive" framework to regulate the cryptocurrency market.
She said:We need to ensure that we have a strong and sound regulatory framework to prevent abuse and protect investors
She also stated that,Cryptocurrency carries risks such as money laundering and tax evasion, and its price fluctuations are "very unstable". These comments have raised concerns in the market that the United States may introduce stricter measures to crack down on the cryptocurrency industry.
China continues to suppress cryptocurrency activity. According to the Financial Times,The People's Bank of China announced on Monday that it will continue to crack down on cryptocurrency trading and mining activities, treating them as illegal financial activities.
The People's Bank of China also stated that,We will strengthen the supervision of overseas cryptocurrency trading platforms to prevent them from providing services to Chinese residents through the internet.
The People's Bank of China also stated that,.China's attitude towards cryptocurrencies remains strong and will not relax its crackdown on them.
There has been a significant correction in global stock markets. According to Bloomberg, on Monday, there was a "bloody" wave of selling in global stock markets,The stock indices of major markets such as the United States, Europe, and Asia have all experienced varying degrees of decline.
The market is concerned,The re outbreak of the COVID-19, the soaring energy prices, the tension in the supply chain, the intensification of inflation and other factors,It may lead to a slowdown in global economic growth or a recession.
These negative factors have also affected the sentiment of the cryptocurrency market,This has led investors to sell off risky assets in search of safety.
In summary,The reasons for Bitcoin's early morning crash are multifaceted,There are both policy and regulatory pressures, as well as market and economic uncertainties.These factors work together, leading to significant fluctuations in Bitcoin prices.
The early morning crash of Bitcoin not only had a huge impact on its own prices,It has also had a profound impact on the entire cryptocurrency market and investors.
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.CoinMarketCap9928101.12246.8%.
.Ethereum (ETH) fell 5.4% to $1520;
Ripple, also known as XRP, fell 7.2% to $0.51; The pomelo coin (EOS) fell 8.3% to $1.93TetherUSDT0.1%0.999.
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On the one hand, the cryptocurrency industry needs to cope with pressure from countries and regulatory agencies.
On the other hand, the cryptocurrency industry also has the opportunity to leverage technological innovation and community strength,Enhance the value, functionality, and impact of cryptocurrencies,.
For example, Bitcoin's Lightning Network is a two-layer payment protocol based on the Bitcoin blockchain,.
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Among them, the amount of short positions sold out was RMB 4.6 billion, accounting for 76.7%;1423.3%.
Binance700...
.Can Bitcoin regain its position at $30000 or even higher? Will it continue to decline or even return to zero?
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The market demand for Bitcoin will continue to grow,.
The market supply of Bitcoin will continue to decrease, as the total amount of Bitcoin is a fixed 21 million pieces,50%.
In this way, the price of Bitcoin will be determined by the supply and demand relationship,.
Representative figures for this prediction include the founder of MicrosoftBill Gates(BillGates), founder of PayPalPeter Thiel (Peter Thiel), CEO of ARK Investment CompanyCatherine Wood Cathie Wood.
Bitcoin will continue to fluctuate, staying between $20000 and $30000..
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Representative figures for this prediction include:Jamie Dimon, CEO of JPMorgan Chase Bank(Jamie Dimon), MeiFederal Reserve Board Jerome Powell(Jerome Powell)Bitcoin founder Satoshi NakamotoSatoshi Nakamoto.
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Representative figures for this prediction include:Nobel laureate in economics, Paul Krugman(Paul Krugman)US Treasury Secretary Stephen Mnuqin(Steven Mnuchin), FacebookFounder Mark ZuckerbergMark Zuckerberg.
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Bitcoin has no practical use,Just a tool for speculation...
Conclusion:
.There are both policy and regulatory pressures, as well as market and economic uncertainties.
The impact of the Bitcoin crash is profound,.
The predictions for the future direction of Bitcoin are inconsistent, and some believe that Bitcoin will continue to rise,.
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