Bitcoin 11 days plunged 44% 486 billion dollars, evaporation, collapse and become the world’s largest scam

This time a year ago, while the most lively Carnival circle of currency, bitcoin prices hit $8000. Various Internet heavyweights plunged into the Red Sea, mouth block chain, change the world “closed” value of faith”.

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In many people’s logic, bitcoin does not account for any practical application value, which is itself a useless code. But after ten years of development, the current bitcoin market has been given special liquidity and value attributes.

The value attribute inside this is approved by a consensus, as the dollar as if there is no credit to buy large force of the U.S. economy support also is a piece of paper just. Bitcoin is currently like special dollar purchasing power behind it is endowed by the market consensus, so too its huge price volatility.

In recent months, bitcoin has dropped from the highest point before the $21000, repeatedly into two steps, three steps back, down to the current $6500 below the lowest even fell below $6000, compared with the highest point, fell more than 70%!

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From November 14th 12, bitcoin price $6417 to 18:24 on November 25th, bitcoin price of $3620, just 11 days, bitcoin has fallen 44%, $48 billion 600 million in market value. Many analysts believe that this vicious spiral of bitcoin is due to the lack of basic value”.

Bitcoin, itself has a certain historical significance, as the underlying application block chain technology, or is a revolution of the traditional technology.

However, even if its value, how to constitute a disruptive influence, still cannot do without a core value, valuation and valuation system, but bitcoin itself is not a set of standard. And stock investments, bitcoin because of its small size, more easily affected by the funds, and some groups of large sell-off, often will affect the normal operation of the order of the bitcoin market.

However, the block chain technology is still in the exploration and development process, it can not popularize commercial applications, and as the underlying application of bitcoin, but now the market was up sharply, the existence of many bubbles.

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However, for the price of bitcoin, are easy to be affected by certain investors, and they tend to occupy the market to have a say, when focus on selling pressure rapid release of the occasion, bitcoin bubble will soon burst.

From the beginning of the Holland tulip bubble, to spread fast today, all kinds of fraud still prevailed again and again the lessons of the fantasy for rich people. In fact, the real wealth is only one road, that is to go, so we can go more stable!

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