On Monday, before the US stock market opened 10 minute, mainstream crypto digital currency accelerated its diving. Bitcoin fell below $3,000 in five minutes, below $48,000 after breaking the $50,000 mark, and the decline expanded to more than 17% within 24 hours. The intraday decline of Ethereum expanded to 20% to $65,438 +0.547.77.
Earlier, US Treasury Secretary Yellen said: "Bitcoin is often used for illegal financing and its application efficiency is low; Bitcoin is highly speculative and people should be aware of this. "
Yellen also said that digital currency may be a faster and cheaper payment method, but there are many issues to be studied, including consumer protection and anti-money laundering; For the Federal Reserve, it is very meaningful to study the digital dollar currency.
However, half an hour later, Bitcoin quickly rebounded. According to the data of Coindesk, the mainstream trading platform, its price has rebounded above $54,000, and the intraday decline has narrowed to below 6%. The previous low point rebounded sharply by more than $6,000.
Bitcoin has risen rapidly this year. In the past six months, the price of bitcoin has increased by about 350%. Last Friday, the market value of Bitcoin exceeded 1 trillion dollars, which became an important milestone in the price breakthrough of the world's most popular cryptocurrency.
Last Sunday, Bitcoin hit a record high, and the price once soared to the highest level of $58,350 per piece. The price of 1 bitcoin exceeded the price of 1 kg of gold for the first time in history.
But JPMorgan Chase strategist Nikolaos Panigirtzoglou warned that although Bitcoin has tripled in the past three months, the liquidity of the market has deteriorated.
Panigirtzoglou said that the daily trading volume of bitcoin spot and futures markets totaled about $654.38+00 billion, while the daily trading volume of gold was $654.38+00 billion. "At present, the liquidity of the bitcoin market is much lower than that of gold or the Standard & Poor's 500 Index, which means that even a small capital flow will have a significant impact on prices."
This makes it possible for Bitcoin to rise and fall, depending on the market's enthusiasm for digital currency.
The recent rapid rise of Bitcoin has also made Tesla CEO Musk, who has invested heavily in Bitcoin, feel uneasy.
When replying to cryptocurrency skeptic and gold fan Peter Schiff on Twitter, he publicly stated that gold is better than bitcoin and legal tender. "Money is just data, which saves us the inconvenience of barter." This data is the same as all data. There are delays and errors. ""So, Bitcoin and Ethereum really look high. "
Tesla's disclosure documents on February 8 show that the company has purchased $654.38+0.5 billion in bitcoin. If the number of bitcoins held by the company has not changed, according to the calculation of $57,000/piece, the book profit of Tesla's investment in bitcoin 1 month is about $990 million, which is 37% higher than the company's net profit of $72 1 billion last year.
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