On March 12th, Bitcoin rallied, and its price once rose to $58,139, approaching the historical high set in February.

according to AssetDash's prediction, the market value of bitcoin may soon surpass that of Google's parent company, Alphabet, and even exceed the money supply of Korean won. However, Bitcoin suddenly crashed that night, and it plunged over $3, in two hours, which stunned many investors. "Safe haven assets" have become "high risk" assets.

Du Jun, co-founder of Huobi, said that although the recent high price of Huobi has boosted market confidence and the industry is generally optimistic, it cannot be ignored that the US inflation index CPI is in line with expectations, and the rise of the three major indexes in the US stock market also has an impact on the mood of the virtual currency market. The recent rise of Bitcoin has something to do with the massive purchase of Bitcoin by many traditional companies.

Extended information:

A well-known trading platform was investigated

Bitcoin fell sharply on the evening of 12th, or it was related to the news that a well-known trading platform was investigated.

On the evening of March 12th, it was reported by the media that the Commodity Futures Trading Commission (CFTC) of the United States was conducting an investigation into the virtual currency trading platform, namely, whether the company allowed American residents to illegally trade its regulated derivatives.

According to informed sources, Qian 'an is not registered in CFTC. However, Qian 'an has not been accused of misconduct, and the investigation may not lead to any law enforcement action. CFTC regards virtual currencies such as Bitcoin and Ethereum as commodities, and has jurisdiction over its futures and other derivatives. This means that if Americans trade on the virtual currency platform, the platform will face strict customer protection and supervision requirements no matter where the exchange is located.

A person close to the trading platform told the china securities journal reporter that there was no major accident in Bi 'an, and it strictly abides by the rules and is only under investigation at present.

Some people in the encryption industry said that the survey showed that American regulators may prevent virtual currency investment from becoming the mainstream investment mode in the United States, and are stepping up efforts to crack down on violations of virtual currency.