Bitcoin fell 75%? The coin ring avalanche, mine sale

China Times reporter Hu Jinhua reported in Shanghai (chinatimes.net.cn)

When approaching the end of 2018, no one will think of the global capital market “black swan” will come from the encrypted digital currency market, just a week, as the representative of bitcoin virtual currency has undergone an avalanche type market value has shrunk, the market capitalization fell from $200 billion to more than $50 billion (about 350 billion yuan). The capital fled, small investors almost run out of ammunition and food supplies, “nowhere to flee, opening the road.

“China Times” reporter learned from 11 15 to 11 21, digital encryption currency market has become “Xiuluo Dojo”, bitcoin fell more than 30%, from $6500 a year fell to a minimum of about US $4100 / Ethernet; Fang decline is even worse, a week or more than 40%, in the other major currencies, one-day decline of more than 20% meet the eye everywhere.

“Market participants put round coin crash down to November 16th 00:40 bitcoin cash (BCH) protocol upgrade camp hard bifurcation contradiction, in bits and ants, led by ABC and Bitcoin mining pool in CoinGeek, led by nChain Bitcoin SV two camps for an outbreak of slobber war, power discourse; in addition, as stable than USDT recently suffered a run, resulting in the stock market funds are insufficient, two factors led to a superposition of capital duolu. Another important reason is that 11 19, the SEC for Airfox and Paragon ICO have the ICO token two enterprises registered as securities, and refund the principal investor, which means that the United States began to start ICO rectification.” 11 21, the domestic block chain industry veteran Hong Ning (a pseudonym) told reporters.

In fact, the encrypted digital currency capital fled the most crazy day in November 20th, the world’s major trading platform bitcoin outstanding single reached more than 31000 pen, and investors as soon as possible in order to cash funds at the selling price dropped below $4000. At the same time, the reporter learned that, in the currency market avalanche market, the three major domestic machine head in Hongkong this year, listed a large number of basic Mengsui, remote areas of the miners began to switch.

In November 23rd, the reporter, bitcoin day once again fell 7.17% to close at $4271 / month, the etheric Fang fell 11.12% to close at $121.69 / month, bitcoin cash (BCH) fell 14.07% to close at $203 / month.

Broken faith “”

Only a short while ago, to join the currency circles people shouting “faith” two words, that you have an unshakable faith in digital currency, this belief is a digital currency investment will make you rich overnight; digital money will come true one day to the center of the world. The result is cruel.

“Now the market is bleak, bitcoin sideways already for a long time, no new good, which makes a lot of investors’ faith is weakened greatly, gradually lost confidence in large quantities to sell, which further exacerbated the market decline.” In July this year pointed out that a choice of flesh leave Shanghai investors Liang Jie respondents.

In Liang Jie’s view, the bear, a feather. At the outset, jumped in bitcoin driven by various types of air penny jiquanshengtian as expansion of the bubble, everyone in the pursuit; however, with bitcoin prices fall cliff style, so many investors lose everything, bitcoin has become the eyes of their Ponzi scheme.

In this round of the winter, do not know how many people are there in the stick, there are so many people who are fleeing.

“Now the mainstream currency the total market value of only about $150 billion, in January this year, bitcoin prices at $20 thousand a vertex, down 3/4 value. From the K line chart, so far this year’s trading day, bitcoin trend representative, a slump in July, then is sideways Yindie stage all digital currency has unilateral down few rebound, fled makers retail quilt. Used to describe the current market performance and the collapse of the holder to reflect the state of mind, a little too much.” In November 20th, looked at the digital currency crash of the stock market figure, a Shanghai analyst Wang Jiaer (a pseudonym) said helplessly.

Mills to sell cabbage price

In fact, in recent years 3 encryption digital currency rising frenzy, still spawned a long industrial chain: project ICO, money from the media circle when trumpeter, mill manufacturer dagankuaishang, miners clock mining, such as bamboo shoots after a spring rain like the emergence of the exchange platform, but also a small retail bottom.

“Now it seems that the currency price fell miners has become a problem of livelihood, no longer have to switch; its giant profits, the new production of mine dust. The market also failed to attract new leek approach.” In November 23rd, a Shenzhen market to observe the “China Times” reporter said.

According to the website of Hongkong Stock Exchange on November 14th shows the world’s second largest bitcoin mining machine chip manufacturer Jia Nanyun Zhi Hong Kong listing application submitted in IPO after 6 months has expired, this is the third time for Jia Nan Yun Chi failure. At the same time, the world’s third largest bitcoin mining machine manufacturers Ebang international IPO cannot be completed this year; and bitcoin mining giant, bit still in the Hong Kong Stock Exchange and the SFC inquiry, due to alleged financial fraud, is expected this year will be not on the market.

In southern Shenzhen the largest electronic products market in Huaqiang North, pushed up to 3 in the early stage of ant S9 machine is now sold only 1200 yuan, if the power supply with the price of 1900 yuan. While the ant V9 price is now 160 yuan, white card machine B when the craziest one sold for 130 thousand yuan, now the second-hand price is only 1000 yuan. By including bitcoin, virtual currency prices fell sharply, some mines have begun under the frame of mine, mine off a large area.

“Due to a slump in the currency, mining income reduced, ore prices fell, and by a large number of clearance. Mine clearing vehicle is in accordance with the price of scrap metal pile up like a mountain hand, or even sell. We all laugh the next outlet is recycling business.” 11 22, a miner said the reporter.

It will drop to 75%?

The industry winter has just begun.

See chairman Liu Yang in the currency of view, investor confidence has collapsed, currency speculation is the most important person in one exit, but now are selling, currently bitcoin prices will continue downward, far in the end. Finance columnist Xiao Lei pointed out that bitcoin in the bear market, not good to support the current price, because bitcoin itself can not generate revenue, if there is no successor, selling stock market is almost a doomed behavior.

“We don’t advise the hunters, I think bitcoin will continue to drop, is now a clear consensus on the destruction of those who entered the early period, profit is also normal.” In November 21st, pan city capital founder Chen Weixing said.

Bocom international research director of Hong Hao in micro-blog said, bubble price curve bitcoin price curve and the classic interpretation of the path is unanimous from institutions involved, to experience the harvest of leek, a classic liquidity fuelled liquidity tightening with modern tulips, withered.

If someone tells you that bitcoin also fell 75%, do you believe? May not believe, just like 3 years ago, you wouldn’t believe bitcoin will rise to $20 thousand, while 10 years ago it is only a dollar. If bitcoin fell 75% is $1500.

Overseas investment research firm Intelligence analyst recently believes that overseas encryption digital currency market mainstream opinion that the global currency market has entered the winter, bitcoin will be dropped to $1500, other coins prices also have 70% space.

“This week from the outflow of the encrypted digital money market funds, bitcoin for example, zapan kinetic energy is very small, more is the digital currency assets in exchange currency and leave, resulting in the sharp surge in cash currency. So you can determine, these tens of billions of dollars of cash has not played, as these funds will flow to where it can make nothing of it, but you can be sure that the short term they will not play again.” Wang Jiaer said.

Leave a Reply

Your email address will not be published. Required fields are marked *