After two rounds after the crash, as the representative of bitcoin encrypted digital currency fell sharply again in November 25th.
According to Coinmarketcap (BTC), bitcoin prices since 25 am Beijing time around 5 “diving” and even break 4200 to 3700 $six mark, the lowest price was lowered to $3697.97, 24 hours or 14.72%, a new low price this year.
Bitcoin and other mainstream encryption digital currency also open again “collapse mode”, the market value of the top five digital currency in the past 24 hours or 14%, which is the largest decline bitcoin cash (BCH), was up to 17.58%, as of press press interface at $171.59.
It is worth noting that, in the first month, bitcoin has also ushered in a round of cash prices rose up to 28%, and hit a high of $630, but only after half a month, bitcoin cash was down nearly 70%. At the same time, for the entire digital encryption currency market, 25 am this slump is the third slump since this month, bitcoin as an example, compared with $6320 at the beginning of the month, the price already fell to nearly 42%.
As for the reason this month since digital currency declines, the insiders are inconclusive, but this month BCH hard and bifurcation, resulting in Craig and Wright camp, camp “bit war” or fall open fuse.
In this regard, the Xinhua news agency analysis of the causes of the crash bitcoins recently is also mentioned in the 25 journal article, is the recent trade war, objectively shaken the confidence of the people, causing some users panic and voting with their feet, due to market volatility.
In addition, the Xinhua news agency also quoted the expert opinion that the recent decline also exist in two aspects: one is the large block chain project there is a serious bubble, in block chain infrastructure are not perfect, practitioners pull high market to pre stage unrealistic height, eventually encounter the real attack, market led to a loss of confidence; two is the bitcoin market due to capital market, and the volume is relatively small, the global digital currency market but also a listed Internet giant volume, with large cash users zapan, also easy to cause sharp fluctuations in currency price.
For the encryption of digital currency, supervision countries are also increasing. 20 this month, the US Securities and Exchange Commission (SEC) — the three sector company finance, investment management and market trading department jointly issued “on the digital asset securities issuance and trading statement”, proposed by the functional regulation of digital assets. At the same time, SEC also announced the first token (ICO) for financing decision of civil penalties. While in Europe, according to foreign media reports, the European central bank executive director Benoit Coeure said in his speech directly bitcoin is the combination of foam, Ponzi scheme and environmental disaster “, is the product of evil after the financial crisis.
The concern is that as the representative of bitcoin encryption digital currency slump has had no small impact on related industries. Earlier, according to media reports, bitcoin prices plunged directly lead to mining industry “winter night”, many of the miners shut down production groups stop, even when the machine is called Jin sell scrap metal.
With the digital currency mining boom faded, on the market, its producers and relevant enterprises will inevitably be affected. The interface has also been mentioned in previous reports, according to the website of Hongkong Stock Exchange on 15 August 11, as the first two large ore producer, Jia Nan Yun Chi IPO application has been submitted after the failure in 6 months, and the Hong Kong Stock Exchange did not apply for a listing hearing, which means that Jia Nan Yun Chi in the year to complete the IPO fear to cool”. In addition, the well-known chip maker NVIDIA also by the mining industry depression involved, on Friday the stock fell 19%, the market value has shrunk to $23 billion a day.
Many plunge under the coin to dark circle in time, but what the future way, many in the industry view, the current seems to draw a conclusion.