Judging from the reasons for the plunge, Jiang Zhaosheng, research director of blockchain of Zero One think tank and researcher of Digital Assets Research Institute, told beijing business today reporter today that the recent plunge of Bitcoin was mainly influenced by external factors. First, sovereign countries represented by the United States, China and South Korea are strengthening the cryptocurrency industry. Taxation and supervision have caused investors' emotional panic to some extent;

Secondly, the global economy is gradually picking up, the amount of safe-haven funds in the traditional capital market is decreasing, the incremental funds in the bitcoin market are decreasing, and the rising market driven by institutional investors is fading.

James Li, a professor of finance at Nankai University and director and chief economist of Federal Reserve Securities, believes that the valuation of Bitcoin is still lacking sufficient evidence, and ups and downs are still the norm. When the regulatory caliber becomes stricter, its decline is inevitable, and the market demand is strong. Its high price is also normal, and it may continue to fluctuate greatly in the future.

Before the bitcoin fell, the positions of various institutions were also adjusted. The latest issue of CME Bitcoin Futures Weekly (April14 ~ April 20th) released by CFTC (American Commodity Futures Trading Commission) shows that in the latest data, the total number of bitcoin futures positions (the total number of open positions) dropped significantly from 9653 to 88 17.

Some analysts said that the value fell sharply in the context of a sharp drop in the market, hitting a new low in nearly six weeks, indicating that the market made an "emergency" response to this rapid decline.

Supervision continues to voice new risks.

According to the First Financial Report, while the price of encrypted assets such as Bitcoin fluctuates, the supervision has also voiced, suggesting that Bitcoin and blockchain have derived new financial risks.

For example, on April 23, at the working meeting of the central bank to crack down on the "capital chain" of cross-border gambling, Fan Yifei proposed to strengthen risk prevention and disposal in view of key issues such as "separate platforms" for e-commerce platforms, gambling, and new methods and problems such as using virtual currency and blockchain technology to avoid traceability.

The above content refers to Phoenix. Com- bitcoin crashed twice in ten days! In the past 24 hours, more than 1.4 million people broke positions, and 5.4 billion funds went up in smoke. Why?