Original title: the biggest bubble collapse in history? Bitcoin in less than a year down nearly 80% evaporation 1 trillion
Bitcoin finally collapse.
To see the day of the fire a screenshot.
Bitcoin plummeted over 70%
Remember that 2017 is the most beautiful bitcoin year than money from less than $1000 at the special price all the way up, the highest peak in December 17, 2017 rose to $19891.99.
From 2009 the first announced bitcoin exchange rate of $1 in exchange for 1309.03 bitcoin, rose to the highest point in 2017 prices, the price doubled 20 million times, is the world’s largest bubble.
In 2017, bitcoin fired to the highest price in Shenzhen, a set of three rooms is not worth 100 coins, a Mercedes S500 top is not worth 10 coins.
2017 years is the most beautiful coin circle of people a year, inspired the rich mythology of countless newcomers, stampede in various funds. The coin ring made rich fast, easy to make money, in the human well documented commercial financial history, are no isolated cases with no predecessors after.
And in these days, investors heard bitcoin split voice.
The afternoon of November 20th, bitcoin price breakdown $4300 line of defense, the RMB price below 30000 yuan, a new low.
Over the past 24 hours, fell over 17%.
Over the past month, fell over 30%.
Over the past year, fell 77%.
Bitcoin’s market value from 2017 highs evaporation 1 trillion and 600 billion yuan.
If you don’t know what this is called collapse, collapse.
Perhaps the panic has just begun, according to Bloomberg said that with the virtual currency collapse began to ferment, bitcoin prices will fall further. Bloomberg information said, bitcoin prices may fall to $1500, 70% of the market capitalization will evaporate.
There are investors in micro-blog, which belongs to our generation super bubble – bitcoin, finally began ended, this is a footnote to the global liquidity inflection point. Without the experience of the South China Sea, such as tulips, dot.com shares of the super bubble, today finally have the luck of seeing life may be a case of the super bubble, feel good.
Micro-blog, WeChat in the circle of friends, bitcoin forum platform, in recent days, losing a lot of speculators are but a “Starving people fill the land”. Even a senior game player said their circle of currency assets have a loss of more than 85%, “declared bankruptcy”.
To know that in 2010, a $25 pizza buyers spent 10 thousand bitcoins, the equivalent of a bitcoin worth 0.25 cents. Seven years have skyrocketed 4 million times, making bitcoin over Holland “tulip mania” and “British South Sea Co hoax”, become one of the largest in the history of human asset bubble.
The red line represents bitcoin prices
The red line represents bitcoin prices
From last week, accompanied by a relatively quiet break bitcoin began to fall, and other mainstream digital currencies pudie. Over the past 24 hours, reboxetine currency fell over 9%, the etheric coins fell over 10%, most of the market value of the top ten digital currency fell nearly two digit. The whole digital currency market value has than the January record of $700 billion.
Why bitcoin crash?
According to reports, bitcoin slump, largely bitcoin cash (BCH) there are differences caused by the community.
BCH hard bifurcation is considered to be an important reason bitcoin prices fell, the hard fork has been officially implemented in 11 June 16 zero 40.
Why bifurcation will cause the market and investors so concerned about this?
BCH is one of the bitcoin currency bifurcation, in August 2017, in order to solve the problem of small capacity block bitcoin bitcoin — a block of the capacity of 1MB, which is thought to lead to low efficiency of bitcoin trading is an important cause in a large number of miners, bitcoin holders and technical personnel under the support of BCH came into being as a branch of bitcoin currency. There are a lot of strong support, BCH has gradually become the mainstream in the digital currency after the birth, the price was $500.
The birth of BCH staff members are both worthy of special attention, one is Craig Steven Wright, the Australian businessman claimed bitcoin is the founder of the Cong himself, has a certain influence in the bitcoin community, dubbed the Macao Cong; another is Wu Jihan, founder of the bit, the company has a large number of bitcoin mining machine, force.
According to media reports, the “hard BCH bifurcation” was initiated by claiming to be “Macao the Cong long Australian Craig Steven Wright, BCH, BCH and loyal defenders within the community” struggle between the CEO bit, Wu Jihan”. The two sides play “battle”, hope to influence each other encryption currency stable operation and transaction by force.
Under this background, the “hard BCH bifurcation” under the “war” need to consume a large amount of its work force, causing periodic stress fluctuation, to cast a shadow on the stock market, bitcoin holders worried about attacking each other in the BCH will spread to bitcoin, rising risk aversion, the sell-off intensified, making the already there has been a digital currency market atrophy of the blow.
The Macao Cong 15 day tweets said, if he will support the miners Jihan Wu, with lots of dollars to sell bitcoins, he believes bitcoin market there is no space, bitcoin will drop to below $1000. O the Cong bitcoin ravings, caused by heavy selling prices.
In November 20th Australia Satoshi tweeted that:
If you want to exchange encrypted currency, also can actually look forward to the price soaring HODL (Chibidaigou), I will be your worst nightmare.
Everything is over, bitcoin is a kind of commodity classification, eventually return to money.
Don’t have what “digital assets”, only fraud and sound cash, make a choice.
Bitcoin below cost price many mill has been used as a garbage disposal machine
Bitcoin prices fall, affecting not only the two secondary market investors, the industrial chain upstream “mine circle”, the profit has been greatly swallowed, some small mines may have benefits and costs do not match and closed, if there is close the tide, the computational difficulty will decrease, the bitcoin price it is one disaster after another.
According to the Tencent “frontline” reports, bitcoin prices have more than one machine breakdown cost, namely the mining income is insufficient to pay the fee and management fee. According to one of the largest mineral pool pond data, including the S7, T9, A741 and M3 of Avalon, what is the old mill type, had arrived off the price.
Continued to fall, the miners have already sold second-hand vehicle will be winding up. One in Xinjiang has more than two thousand sets of machine of Tencent “frontline” miner said in the stock market these days, he had dug more than 30 coins, according to the current price, income 2 million 600 thousand yuan, but at the same electricity up to 2 million 800 thousand, “this is Yu Yue to dig more pay, simply close machine.”
But the shutdown does not mean to stop. Another has more than twenty thousand sets of M3 ore miners said that these mills more than 10000 yuan in more than a year before the market price, “asked a lot, plus my purchase amount is relatively large, so the price of 6000 yuan to buy.” But in today’s currency price and force, the ore price has been reached because of the shutdown, so second-hand monopoly was basically equivalent to “No one shows any interest in, a pile of junk-heap, single is more than 20000 mill, is equivalent to the loss of more than 1 hundred million.
Buffett denounced Gates called short rat medicine
Before the Boxill Buffett meeting, Warren again express their bitcoin is not optimistic about the attitude: “encryption currency the final result is very bad, because there is no correlation with the value of the asset they produce.” The value of these assets depends on more people to play, then the holder is higher than the purchase price of the price to sell one disc.
When bitcoin at $more than 100, Buffett said bitcoin is rat poison, the reporter asked him, bitcoin rose from $more than 100 to $more than 9000, what are the views on this, Buffett answered: “may be the square of the rat poison.”
When a reporter asked Buffett about the virtual currency, he said, just because of the scarcity of such assets is precious, encryption assets did not produce any relevant value, can only wait for someone with a higher price to offer.
Bill Gate said in an interview with CNBC. “If there is a simple method, I will sell (bitcoin).” “As an asset class, (it) did not produce anything, so you should not expect it will rise. It is purely a “greater fool theory” that kind of investment.”
Gates said, someone once gave him bitcoin as a birthday gift, a few years after he dumped all. “I totally believe that belong to the kind of crazy speculative things bitcoin and ICO.”
9 2017 12 CEO Jamie Dimon, JPMorgan denounced the bitcoin “hoax”, “worse” than the tulip bubble, “digital currency transaction will not have good results, some people will accompany with life”. He also said that any employee involved in bitcoin transactions should be dismissed because of stupid.
NVIDIA shares fell
It is reported that, at present by the encryption currency market plummeted, the world famous manufacturer NVIDIA graphics also presents the recent price slump trend.
In the past month, as artificial intelligence stocks on the U.S. stock market the most dazzling – Ying Weida (NVDA), the stock price falls continuously, the highest since October 1, 2018 292.76 dollars, fell to the lowest in November 20, 2018 a minimum of $133.31, the share price retracement rate over 50%.
NVIDIA released the 2019 fiscal year Q3 quarter earnings last week, although revenue, net profit increased by 21% and 47%, but did not meet market expectations. While NVIDIA also will be fourth quarter revenue forecast to $2 billion 700 million, far below the market analysis agency gives the expected $3 billion 400 million.
Investors gave high growth expectations and the valuation for the company nvidia. This poor performance is expected to forecast, will give investors a hammer.
In NVIDIA’s earnings, the management of the cause of slowing revenue growth, mainly due to the backlog of mid-range Pascal products GPU channel inventory. The deep cause of channel inventory, but digital currency fell.
Need to dig bitcoin mining machine, mining machine running hash algorithm need to calculate the force, stress from purchasing the NVIDIA GPU. The hot digital currency market to NVIDIA GPU retail business of huge market demand, but once the digital currency market fell, a large number of ore mining cost is higher than the price of digital money, will put these mills out. These were eliminated GPU into the secondary market, not only led to GPU prices continued to fall, is to let the short-term market demand is completely saturated, have a negative impact on the upstream of NVIDIA’s capacity.
“NVIDIA shares fell, reflecting the monetary boost demand in the future encryption has been shattered,” Creative Planning’s president and co chief investment officer Peter Ma Luke (Peter Mallouk) said in an e-mail.