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In the fell below $6000 mark only five days later, bitcoin again collapse, breakdown of the $5000 mark.
According to the fire coins network market, the current bitcoin price $4909, 24 hours or up to 12.07%, the lowest since October of last year.
The digital currency plummeted, only a few survived. According to small data show that the market value of the top one hundred digital coins and currency stable only reboxetine currency TUSD did not fall, the rest 24 hours or more than 10% currency. By the fall, the total market value of the global digital currency market fell below $170 billion.
11 months ago, the highest point of bitcoin rose to $19229 in December 18, 2017, the total market value of digital currency market also hit a record $800 billion. In January 1st this year, bitcoin prices reached $13354, after 11 months, bitcoin back to $5000.
This means that if an investor at the beginning of this year to buy 10 bitcoin positions and so far, it will suffer a loss of about 580 thousand yuan rmb. If the number of buying bitcoin is 20 or 50, then the amount of the loss will reach 1 million 160 thousand yuan and 2 million 900 thousand yuan.
If the highest point in December 18, 2017 to buy 50 coins, the amount of loss will reach 4 million 960 thousand yuan.
With the development of digital currency market panic spread, many coin circle chiefs also gradually disappeared.
In 11 months, bitcoin prices plummeted and through countless times. Now, the bubble is gradually broken. As Chen Weixing said: “the industry chain to block the time to admit their mistakes”.
337 tokens only 4 survived break
According to CoinDesk data show that in the early morning of November 20th, bitcoin fell to the lowest point of $4883 last week fell more than 22%, the market value of the evaporation of more than $26 billion.
Digital currency market in general fell
At present, this year is the highest point of bitcoin has fallen by 65%. According to coinmarketcap data, in November 20th the total market value of digital currency market fell to $168 billion 175 million, the lowest level since last October 24th, the total market value of digital currency market was $168 billion 542 million.
In 2017, bitcoin prices soared to the highest point in history, was close to $20000, the total market value of digital currency market also hit a record $800 billion. Bubble than most people think more slowly, after 11 months, bitcoin fell below $5000 mark, and the total market value of the entire digital currency market also fell below $170 billion mark.
This year, bitcoin through countless times rise and fall.
The coin ring is a boom, already can be traced back to the year at WeChat group hot. At that time, the coin ring bosses all night about the future of the industry chain blocks in the community, everyone is gone with the wind, not afraid not afraid of money project. Even though the 9 / 4 ban on a piece of paper, ICO activity is still like a raging fire in china.
However, there is no sign of the bear market. ICO of heat loss, then block chain project written in the white paper on the vision also did not realize, investors get only hand falls again, almost to zero digital currency.
According to the rhythm of block statistics show that in the first half of 2018, coins, coins, fire OKEx and Kucoin 4 337 on currency exchange. This 337 a currency break rate reached 98.8%. This means that 337 tokens, only 4 did not touch the break line. The 96 items of currency prices have dropped 90%, the air gradually turned into coins.
The protracted concussion in the continued killing investors bitcoin blockchain and confidence.
7 4, a Li Xiaolai private conversation recording spread in the network. In the more than 50 minute conversation, Li Xiaolai with vulgar tone are on coins in the circle of famous people and block chain project, currently the largest digital currency exchange said Ann is a liar money exchange, sharp wave Sun Yuchen is “flicker”. And the winner is describing his investment practices.
The coin rings bear the last fig leaf is therefore tiaola. Since the digital currency market began months sideways.
Sideways a few months later, the digital currency market did not usher in a bull market. Wu Jihan and Macao Satoshi is down again let bitcoin a war.
“The bigwigs are only thinking about doing their own thing, consensus has collapsed. The market may be worse than we thought. “Most currency circles like Chen Weixing, the digital currency market is not optimistic about the future.
5000 dollars is not the worst?
It seems that in most currency circles, plunged coins and other digital currency seems to be a predictable disaster.
In November 20th, pan city capital chairman Chen Weixing said in his speech, the bear market has been very serious, but he believes that bitcoin will likely be fell 50%, then 70% of the projects are “dead”. Chen Weixing said that the field of the blockchain staff wages may fall 20%, block chain would not like before, you can easily earn money.
Chen Weixing (left)
Chen Weixing believes that the block chain industry has to admit it. Some time ago the project crazy fund-raising, there are those who claim to take the money out of the circle. What to do after the fund-raising? It should be audited, wealth should be transparent, and the formation of industry management method. We do not have to make this industry more standardized, we have to admit it.” He said.
Cash is the initiator of battle and bit Macao Satoshi had before the war in tweets said he believes bitcoin market has no space. Bitcoin will fall to $1000.
At present, digital currency market has been in a panic, only a small number of practitioners still maintain an optimistic attitude.
Early LBank investor Zhang Hua said publicly: bitcoin below $5000 is not the worst thing I’ve ever seen.
He believes that compared to the absolute gains, the volatility of the market and industry infrastructure progress, is the basis for the increased liquidity and a new round of the bull market, the price increase is only the catalyst.
“13 years 14 years of market, more difficult than now, some inevitable test so now experienced only coins ring change.” He said.
Coin circle chiefs dispersed
Along with the continued currency circle bear market, more and more money bigwigs have to leave the circle.
8 month, the media reported that Xue Manzi turns 90 disciple “zhupan blasting is suspected of using ZJLT (Ultimate Books) project cut chives. Subsequently, zhupan declared: “the permanent withdrawal from the currency, not shirk any responsibility, I am sorry, I have a clear conscience all along!”
Almost at the same time, because of its currency reform project QOS regulatory touch the red line, FCoin founder Zhang Jian in condemning the disappeared.
“Bitcoin’s Li Xiaolai”
In September 30th, once known as the “bitcoin richest man” Li Xiaolai announced at the micro-blog withdraw money ring, said he is no longer a project investment, ready to switch.
In October, the etheric Fang founder V God said on twitter, without me, Ethernet network also Fang “absolutely will survive”. When asked whether he would take a back seat from the etheric Fang on the future, V and God said, “had been carried out, most of the work is now completed by the partners.”
But shortly thereafter, he said in a statement on twitter in tone, “and did not intend to leave the etheric Fang in the short term”. The original “I wrote a statement, I just said is not how the etheric Fang I need the participation, for a short period of time to leave the etheric square community there have been no actual plan”.
A part of the coin circle chiefs to choose to leave, the rest of the people into a bear market quagmire.
Wu Jihan and Macao Satoshi is war continues, but the dispute continued every day will burn tens of millions of yuan; Xu Mingxing OKCoin from the beginning of September has been exposed by investors besieged the scandal; while the previous block chain project crazy bitcoin platform that will rise to $1 million treasure putting today has been to the United States no longer participate in the project.