Bitcoin fell below 30 thousand yuan for the first time since 2017, the breakdown of the cost price, mill into scrap metal!

Speaking of the recent bitcoin market, since October 2017, the devaluation of the most serious period. Recently, following the value of bitcoin fell to 30 thousand yuan for the first time, this situation leads to the emergence of a large number of selling on the market, widely sold in a large number of opaque encryption currency market. The 13 months of decline, the basic breakdown of the machine cost, once the mill into scrap metal, make you jittery.

According to the Coinbase digital exchange, according to data compiled by the price, the world’s most popular virtual currency fell from 12.5% on Friday evening, reached $4914.21, about 34 thousand yuan.

The defeat of bitcoin is starting on Wednesday, and this defeat, not just virtual currency is affected, also affect other widely traded currencies encryption. According to the story, bitcoin opened on Wednesday, the transaction price of 44 thousand yuan, then its value in more than a year for the first time since dropped to less than $5 thousand (about 35 thousand RMB).

For this matter, because now bitcoin is still in the beginning stage of the industry, is not completely transparent, so we cannot understand it for the crash, and professional analysts have been trying to understand what is causing it to fall.

But at present, some encryption operators control the smaller said at least some of the reasons attributed to the cash for bitcoin battle. As we all know, now the currency has been divided into two parts: traders called “hard fork”, but in the end is who owns it, but no one can say clearly.

This confusion highlights the analysts have warned for years: the contents of encrypted transaction too unregulated, the risk is very big, can not be regarded as investment in public security. Bitcoin is at the highest point of the history of the 2017 year 12 month 19511 dollars (about 135451 yuan), but after that, bitcoin has been declining, in a very embarrassing process. Now, bitcoin cash has dropped by about 20%.

Some people said: now bitcoin fell, of which there are some problems due to its business model.

After all, bitcoin is through a process called “mining” created by computer. This involves the use of a large number of interconnected processors to solve complex mathematical problems. The calculation is more and more difficult to crack on the market more bitcoin. Therefore, the cost of electricity to increase, so bitcoin began to face the crisis.

It is reported that a market made last month estimated cost of mining a transfer of $7000 bitcoin (about 49 thousand yuan). This means that the market participants are currently at a loss to create new coins.

So, the United States began to sit still, to approve bitcoin exchange traded funds, traders have been hoping to get a big boost. Thus, investment tool basically as a stock operation, everyone is closely tracking each bitcoin market value. You may not know ETF, in fact, ETF is one of the most popular trading mechanism. While the United States shot, the U.S. Securities and Exchange Commission, the green light will bring a lot of cash to the external bitcoin market.

Of course, this is not the final destination, bitcoin according to reports, only a week, the total market value of the crypto currency bitcoin market overall has evaporated 4000 billion dollars. The technical analysts said that the current bitcoin prices have not bottomed out, probably after a period of time, it will continue to fall, there may even fall to around $1500! So that the capital market is to remind you, amidst the winds of change, investment risks, the market need to be cautious!

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