20 17 years is bound to be the issuance of various new coins and the collection of various funds. Then after the first week of 20 18, the bull market began to turn into a bear market, and the bull market of bitcoin came slowly and quickly. 20 18, the funds in the whole currency circle fell by more than 90%, and the bear market began to adjust for a long time.1866717
This year's decline has brought investors back to rationality, which is actually conducive to the standardized development of the currency circle. Now, regardless of the actual value of digital currency, this capital gain makes investors further understand the importance of risk management. In addition to this year's currency circle, there is also P2P. When investors see that it is profitable, they will speculate without thinking, and ultimately they will suffer. Whether this bear market can make investors understand the nature of the currency circle is still unknown. However, the future development of the currency circle still needs government supervision and the normal operation of platforms and projects. Of course, only with the support of capital can the currency circle develop healthily.
Therefore, capital outflow is the biggest reason for Bitcoin's sharp drop.
The reason for the plunge was the manipulation of the banker. Anyone who has had investment experience and can understand K-line data knows that the cryptocurrency market has always been controlled by big institutions and big bookmakers, and there are often inexplicable ups and downs. There is no warning for long and short battles. Even the occasional good news and bad news is an excuse for the dealer to start operating.
Because there is no supervision, the trace of artificial manipulation in this market is obvious, and only some restrictions can be made through the exchange. However, if both the exchange and the bookmaker join the ranks of harvesting leeks, it doesn't matter who comes in unless they have the strength to resist Taiwan.
Last year, Bitcoin should not have risen to the height of $20,000, but with the help of the crazy issuance of various cottage coins last year, a large amount of funds poured into the currency circle. At the beginning of the issue, various air currency pyramid schemes used Bitcoin and Ethereum to raise the prices of these two currencies. Since then, a large number of counterfeit money has ushered in a bull market and eventually poured into Bitcoin, which also made the historical peak price of Bitcoin close to $20,000.
Since then, a large number of profit-taking discs have started to flee, from the obvious selling pressure of $20,000 in February this year to $6,000, and then rebounded to $9,700 after oversold. This is an endless bear market trip. Judging from the acceleration of the recent decline from 165438+ 10/5, it will take two to three months for bitcoin to be repaired, and $365438 +000 is not the final bottom.
Therefore, the bitcoin crash itself is the end of the bull market and the opening of the bear market. After the fund disk has no funds to operate, it is necessary to exchange its own space for time. This is the biggest reason.
In this bear market, digital currency, led by Bitcoin, plunged sharply. The essential reason is that there are too many bubbles in the market, and the decline of currency price is the process of repairing real value.
The reason for the last bull market has a lot to do with 1C0. 1C0 makes it easy to issue money and raise funds with almost no cost. In addition, the lack of market supervision has led to rampant fraudsters and the proliferation of air projects. The "fiery" of the industry has driven the soaring price of money. At the same time, the chaos in the industry has also attracted the supervision of various countries. Under the supervision, 1C0 has gone to death, and it is gradually difficult to issue coins and raise funds, and the enthusiasm for speculating in coins has gradually faded.
The bubble was punctured by the sword of supervision, and a large number of projects could not be applied. It is natural for the whole industry to support such a high price, and it is also natural for the currency price to plummet.
In the short-term, the sharp drop in currency prices has brought the whole industry into a cold winter, but in the long run, the industry will gradually return to rationality, which is more conducive to the benign development of the industry. Only by truly using blockchain technology can the industry usher in a real "bull market"!
Bitcoin, something calculated by blockchain algorithm. Some people call it virtual currency, but please note that this thing has nothing to do with money.
First of all, there must be national coercion. Without this foundation, it is impossible to call it money. This is national credit.
Second, it must be proof that it is compatible with the existing economic system, that is, there must be reference objects, generally speaking, gold and foreign exchange. It's not printed casually. It needs an equivalent to hedge it.
Bitcoin mining has always been a virtual currency, and no country has given it coercion and credit. There is no equivalent to determine its value. So, you can't call money. Only one blockchain algorithm can virtually create a xx coin.
Another example is Q coins. Q coins are money? Of course not. It's just a virtual commodity bought with money. This product can buy virtual materials in Tencent's virtual world.
Since it is not money, why is there a market and popularity?
First, people are unfamiliar with new things and don't know the roots. Second, the algorithm is complex, and the so-called mining is difficult, which requires a lot of energy and costs. Third, some people like it, while others are greedy for money and want to possess more.
There are four main reasons:
The bifurcation of 1.BCH caused the price roller coaster of BCH and ruined the trend of the whole bitcoin series. In addition, a large number of computing power has been transferred from BTC to BCH, which leads to the slow transaction of BTC and aggravates the insecurity of holders.
2.USDT suffered a run, resulting in a serious lack of stable currency in the market.
3. The development of secondary market derivatives such as 3.STO reduces the strategic significance of digital currency such as Bitcoin.
4. At present, it is a technical bear market, and it may plummet at the slightest sign of trouble.
Some people say that it is caused by bch bifurcation.
Some people say that it is caused by the futures market.
Some people say yes. . . . !
I don't agree!
I think bulls are traders of bitfinex and bulls are controlled by usdt.
Why do you say that?
Let's talk about the entry channels of currency in the currency circle. The biggest way for legal tender to enter the market is OTC, usdt, or some legal tender exchanges.
And the dollar is the biggest stable currency. From the circulating market value of 2.8 billion to1700 million.
USDT circulation market value change chart
Now let's find out what happened in the middle.
On June 10 and June 15, it was rumored that USDT collapsed. The lowest price of USD against RMB fell to 0.86 USD. Then bitfinex repurchased USD T 654.38+0 billion. The average repurchase price is about $0.9. Regardless of whether there is a real additional issue in usdt. The profit from this mismatch alone is $654.38 billion. The market will stabilize in the coming month. The spread of BTC between the anchored usdt trading platform and the anchored USDT trading platform exceeds 10% from the initial price and gradually returns to within 1%. The price range of BTC is around USD /USDT. More than half a month sideways. The volume of transactions has shrunk dramatically. The market is depressed.
Is it possible that bitfinex has repurchased 1 100 million USD of ust and put this 1 100 million USD in the dollar-anchored market to wait for opportunities? It is a coincidence that Bitfinex has introduced a new cash withdrawal policy. I have to think about it.
Effective immediately, Bitfinex will charge 3.0% for all external withdrawal requests exceeding the following frequency and/or size limits:
1. More than two legal withdrawals in any thirty days; And/or,
2. In any 30 days, the total amount of legal withdrawal exceeds1000000 USD.
At present, more than 99% of customers require regular withdrawals, and this change will not affect regular withdrawals.
Now resume last night's trading, and start to break the position near 1 1, because the trading market is different in size and depth. Usdt market and usd market, the rate of decline is obviously different The biggest difference is 14%. Usdt quoted 6000, usd market quoted 5280. At this time, the aforementioned $654.38 billion has been put into the dollar market, and the hunter's opportunity has come. Buy coins from the dollar market and sell coins in the dollar market. Who can do this? Master bitfinex, this is a barrier-free exchange between usdt and usd. You may say that it is caused by the depreciation of usdt or the market downturn. But what about the off-site crazy premium?
Coincidentally, we must establish contact with bitfinex. Bitfinex can then buy coins from the usd market and sell them in the usdt market when other funds are prevented from entering the market. Gradually eliminate the price difference. Deadline for publication. The difference between usdt market and usd market is 3%. Off-site usdt temporarily reported USD 1.0 1, and premium 1%.
The talent who controls the stable fund pool is the biggest village. Single liquidity restriction. It is enough to kill many institutions.
Someone asked, if it is not broken, it will not stand. Is the cow coming?
I don't think so either. Think about it, the biggest problem in the currency circle is not the understanding of * * * *, but the access to legal tender funds. And now usdt is the only one who grabs everyone by the throat.
With the rise of other stable currencies and the diversification of access channels, perhaps cattle will come.
I suddenly realized that what is lacking is not the funds, but the channels for the funds to enter.
There are four main reasons:
The bifurcation of 1.BCH caused the price roller coaster of BCH and ruined the trend of the whole bitcoin series. In addition, a large number of computing power has been transferred from BTC to BCH, which leads to the slow transaction of BTC and aggravates the insecurity of holders.
2.USDT suffered a run, resulting in a serious lack of stable currency in the market.
3. The development of secondary market derivatives such as 3.STO reduces the strategic significance of digital currency such as Bitcoin.
At present, it is a technical bear market, and the slightest sign of trouble may plummet.
The dollar is the dollar from the beginning, and the US government and gold guarantee it.
Who guarantees bitcoin?
Mining?
Mining?
Mining?
Steal the concept.
Gold, gold is extracted by mining gold mines. Gold.
What can bitcoin dig up?
The little grandson worked at home for a long time, and grandpa rewarded him with ten dollars.
What do you do with many computers?
Ridiculous.
What is a blockchain?
It should be, for example, a cigarette in a cigarette factory corresponds to a coin, which can be exchanged for this cigarette at any time. You can use this coin to buy things in the supermarket, and the supermarket can exchange it for cigarettes. Farmers can exchange it for fertilizer.
Bullshit. Why are you doing this?
Yes, banknotes will do.
I want to hand it in in a few days. Isn't it accepted?
Don't you have a credit card to use money in advance?
Bullshit bitcoin.
useless
Bitcoin plummeted for three reasons:
1, the controversial bitcoin cash hard fork (BCH)
2. Strict supervision of Bitcoin and digital currency by national regulators.
The continuous decline has caused panic among global investors.