Just now! Bitcoin has collapsed!At around 17:55 Beijing time, Bitcoin suddenly fell, directly from $7500 to below $7100, with a short-term decline of over $400. As of press release, Bitcoin fell to $7020, once below the $7000 threshold
Just now! Bitcoin has collapsed!
At around 17:55 Beijing time, Bitcoin suddenly fell, directly from $7500 to below $7100, with a short-term decline of over $400. As of press release, Bitcoin fell to $7020, once below the $7000 threshold.
Last night, Bitcoin just fell below the $8000 mark and directly fell near $7500. Now it once fell below the 7000 mark, with a cumulative decline of over 13%. Compared to the mid year high of $13880, it is almost halved.
This may mean that the Bitcoin market, which started racing on October 25th, has come to an end.
8000!7500! 7000! Bitcoin plummets again and again!
Over ten minutes of diarrhea for $400
At around 17:55 Beijing time, Bitcoin suddenly fell, directly from $7500 to $7000, with a short-term decline of over $400. As of the press release, Bitcoin fell to $7007, once below the 7000 level.
If the time is extended to 24 hours, in the past 24 hours, Bitcoin has been running down like a record: last night, Bitcoin suddenly experienced a sharp decline, quickly falling below the $8000 level, and even falling below the $7500 level. According to data, the lowest price of Bitcoin is only $6993. Accumulated decline exceeding 13%.
Bitcoin has nearly halved since mid year
The entire coin circle evaporates 23 billion US dollars
According to the data, the latest price of Bitcoin is $7007, which has not only dropped the increase since October 24, but also hit a new low since May this year. Compared with the high point of $13880 in June this year when Facebook tried to launch the Cryptocurrency Libra, Bitcoin has almost halved.
At the same time, other Cryptocurrency ranked in the top 10 by market value also fell by more than 9%.
Investors can only describe this in four words: shocking.
This may mean that the Bitcoin market, which started racing on October 24th, has come to an end.
And this comes from a piece of news from the Politburo.
According to the report of CCTV News on October 25, the Political Bureau of the CPC Central Committee conducted the 18th collective learning on the current situation and trend of blockchain State of the art on the afternoon of October 24. Afterwards, the public and local governments' attention to blockchain has greatly increased, and the concept of blockchain has become unprecedentedly active.
The price of Bitcoin has also risen, directly from $7300 to nearly $10000.
Until early November, Bitcoin prices began to consolidate and decline. From October 28th to November 7th, Bitcoin prices were roughly within the range of $9000 to $9500.
On November 6th during this period, the National Development and Reform Commission released the "Guiding Catalogue for Industrial Structure Adjustment (2019 Edition)" (hereinafter referred to as the "Official Draft"), which deleted the "virtual currency mining activities" originally included in the eliminated industries. The "Official Draft" is consistent with the previous "Draft for Soliciting Opinions" and includes "blockchain information services within the scope allowed by the state" in the encouraged industries.
The Shanghai headquarters of the central bank has just released a message
Special investigation and rectification of virtual currency business activities
And the recent surge in Bitcoin may be related to a message from the central bank.
This afternoon, the Shanghai headquarters of the People's Bank of China announced that the Shanghai Financial Stability Joint Conference Office and the Shanghai headquarters of the People's Bank of China, in conjunction with relevant departments at the two levels of the Shanghai urban area, will carry out a special rectification of virtual currency related activities in the Shanghai region, ordering enterprises found during the investigation to provide publicity, drainage and other services for virtual currency trading platforms registered overseas to immediately rectify and withdraw.
Next, the Office of the Shanghai Joint Conference on Financial Stability and the Shanghai headquarters of the People's Bank of China will continue to implement the requirements of the Announcement, continuously monitor the virtual currency business activities within their jurisdiction, and immediately dispose of any discovered cases, cracking down early and preventing potential problems. Investors should be careful not to confuse blockchain technology with virtual currency. There are multiple risks involved in the financing and trading of virtual currency issuance, including false asset risks, business failure risks, investment speculation risks, etc. Investors should enhance their risk prevention awareness and be wary of being deceived. If investors discover various forms of virtual currency business activities, as well as organizations or individuals that continue to carry out ICO and virtual currency trading business for domestic residents through the deployment of overseas servers, they can report to regulatory authorities. For suspected illegal and criminal activities, they can report to the public security organs.
Shenzhen also takes action
Strengthen the supervision of virtual currency
On November 21st, the Office of the Leading Group for the Special Rectification of Internet Financial Risks and Other Risks in Shenzhen issued a risk warning on preventing illegal activities of "virtual currency". Virtual currency speculation will be included in the focus of local financial supervision in Shenzhen.
For example, some enterprises organize virtual currency transactions domestically under the name of "blockchain innovation"; Issue "xx coin", "xx chain" and other forms of virtual currency, issue white papers, fabricate the use of ecology, raise funds or bitcoin, Ethereum and other virtual currency assets on the basis of "blockchain application scenario landing"; Provide promotion, diversion, and agency buying and selling services for ICO projects and virtual currency trading platforms registered overseas.
The Municipal Mutual Fund Rectification Office will investigate illegal activities of virtual currency within its jurisdiction through various channels. Once discovered, it will be dealt with seriously in accordance with the requirements of the Announcement on Preventing the Risks of Token Issuance and Financing. Investors should remain vigilant against illegal financial activities related to virtual currency, report relevant illegal and irregular clues in a timely manner, and be wary of being deceived.
The latest information shows that the Shenzhen Local Financial Supervision Bureau has identified 39 illegal enterprises suspected of carrying out virtual currency activities through the Lingkun system.
In addition, on November 15th, the Shanghai Mutual Fund Rectification Office took the lead, and the Municipal Financial Stability Joint Office and the Shanghai headquarters of the Central Bank jointly issued the "Notice on Conducting Rectification of Virtual Currency Trading Places" to carry out rectification of virtual currency exchanges within their jurisdiction.
On November 18, the Office of the Inter ministerial Joint Conference on the Disposal of Illegal Fund Raising issued a notice requiring all regions to make full use of online monitoring, Big data screening, offline mapping and other means to increase the monitoring and early warning of illegal fund raising risks such as "money speculation" and "chain speculation". Once any signs of non complicity are discovered, they should be dealt with promptly and decisively.
Bitcoin mining machine broke down just after its launch
Coincidentally, last night, Jianan Technology, the "first stock of Bitcoin mining machines," went public in the United States and broke on its first day.
On November 21st, on the first day of listing, the stock price of Jianan Technology was like riding a roller coaster, experiencing a sharp rise and fall before finally closing and breaking. The issuance price of Jianan was $9, with an opening price of $12.6, a 40% increase from the issuance price, and gradually declined thereafter. As of the closing, Canaan Creative had fallen below its offering price to US $8.99, down 0.11%, with a total market value of US $1.42 billion.
Previously, many analysts attributed the sharp rise in Bitcoin to the halving of Bitcoin production next year, but this may be a mistake.
Statistician Willy Woo said that the price action of Bitcoin will not repeat the past half, so in the short term, the price of Cryptocurrency will continue to remain bearish.
Bernzon of Zenith said that the correlation between the price trend of Bitcoin and traders' expectations is an "interesting Game theory problem", because one problem will affect each other. He said, "Only the expectation of a price increase after halving will drive prices up before the actual event occurs." "If you look at the data, it indicates that the event with the largest increase is the 12 months after the halving event
This article is sourced from China Fund News
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