One day down over 14%, sleep wake up bitcoin world changes

From: China is through train

The gods fight, suffer mortal.

Calm after a period of time, has become the focus of bitcoin.

Last year, bitcoin is crazy soaring, rose to become Chinese aunt “prey” and “crit” policy was, in the official hit ICO (first token issue) and risk warning issued by the case of virtual currency, bitcoin fell slightly to a narrow range of fluctuation.

And in these two days, bitcoin then headlines, continuous below multiple integer points, single day depreciation rate approaching 15%.

The train is drawing rain Tong Hou

Crash

A week ago, bitcoin quotes from $6261 (the price data from the bitcoin trading platform Bitstamp) to $5596.

A few days after a narrow range of fluctuation plunged again. From Beijing 19, 8 to 20, 8, bitcoin in 24 hours to fall 14.26%, down to $793, $4766. Period´╝î The highest price of $5559, the lowest price is $4694 And constantly refresh the lowest since October 2017.

Especially 20 at this time, bitcoin in just a few hours, A row below the 5000, 4900, 4800, 4700 to $four mark integer.

In other words, you sleep wake up, bitcoin world changes.

In addition, CME bitcoin futures BTC12 month contract fell $615, or about 11.28%, to $4835 a month contract closed at a record low.

Bitcoin digital currency market fell broke the calm, led the other mainstream digital currency fell. Nearly a week of time, coins, coins, etheric Gerbaud Wright currency were to fall.

The digital currency industry downturn affecting not only the price. The main GPU manufacturer NVIDIA (NVIDIA) recently announced, the quarter sales decreased significantly, the reason is For the crypto currency mining GPU sales decline, the stock has depreciated.

Pushing hands

Bitcoin plummeted, almost all the analysis will be “targeted” to bitcoin cash (BCH) “hard bifurcation”.

China News Agency, China is the train to understand, in a survey of bitcoin wallet platform letter of the user to do, A total of 82.6% users think BCH bifurcation is hard reason of current bitcoin fell.

Bloomberg quoted the hedge fund founder Travis Kling, due to the recent bitcoin hard cash markets turmoil bifurcation may give encryption, there is a very small possibility, some very bad things with bitcoin cash will occur, which may influence the whole encryption money market.

What is the BCH? BCH is one of the bifurcation currency bitcoin. In August 2017, in order to solve the problem of low efficiency in transaction because bitcoin block capacity is small, in some technical personnel, large miners and bitcoin holders under the support of BCH emerged as currency bitcoin bifurcation.

BCH why hard branch? First of all, hard bifurcation can be understood as a consensus on the original technology of digital currency differences, and points out a new chain in the chain, resulting in a new currency, like the branch formation, the conflict of interests is the technology behind the miners.

Secondly, the BCH bifurcation is actually hard by long-term self proclaimed Nakamoto Australian Craig Steven Wright launched BCH BCH and loyal defenders within the community “the struggle between bit, CEO Wu Jihan”. The two sides play “battle”, hope to influence each other encryption currency stable operation and transaction by force.

The gods fight, suffer mortal. Bitcoin cash under the “hard bifurcation battle” need to consume a large amount of its work force, causing periodic stress fluctuation, to cast a shadow on the stock market, to attack each other bitcoin holders worried that the bitcoin cash will spread to bitcoin, The rising risk aversion, the sell-off intensified, The already present digital currency market shrinking situation suffered another blow.

Future

Bloomberg intelligence analyst Mike McGlone warned that the crypto currency fell momentum may become worse. The forecast Bitcoin prices probably fell to $1500, 70% market capitalization will evaporate.

Jack is a long-term focus on the development of technology and the blockchain early admission of the virtual currency game player, he recently in the circle of friends to share a bitcoin falling news, with a line of text – and bought several. Jack told news agency in the train, he is still optimistic about bitcoin, and long-term asset allocation as an important part of the.

Bitcoin wallet platform letter CEO Wu Gang bluntly: “Bitcoin bitcoin is, no matter what others bifurcation!”

Wu Gang said, is just a part of the consensus, not all consensus. Technology innovation and customer value to the center of the store is the largest bitcoin consensus. “So the blockchain is not to the bifurcation of the consensus. Is the bifurcation block chain industry taboo.”

He believes that only the bitcoin market value of 7.8% BCH bifurcation of the war, bitcoin stress will not be too big and far from last year’s BCH hashrate crit risk. The BCH value is low, so dig BCH force involved in combat is losing money. Bitcoin is not more than 10% of bitcoin finally force effect.

From a more macro perspective, Chinese bank, former vice president of Chinese new supply side economics 50 forum members Wang Yongli believes, Bitcoin is not real money The reason is, as a kind of network currency, application scenario is less, and should play a measure of value functions of money, the most fundamental requirement is to keep the value of money is relatively stable.

Wang Yongli said that if the currency is volatile, the social economic exchanges will be a mess. Obviously, the current bitcoin in terms of currency stability, is still not satisfactory.

But Wang Yongli also stressed that bitcoin is not real money, does not mean it has no value, like gold currency exit stage, does not mean that it has no value.

China financial institute, the people’s Bank of Chinese former governor Zhou Xiaochuan recently pointed out, According to the existing concept of digital currency into digital currency and central bank private sector digital currency, digital currency can also include public-private partnership.

In the above distinction means that digital currency and the development of electronic payment may be a variety of parallel development, before the competition, but also to the regulators and the central bank presents a challenge that the future is uncertain.

Leave a Reply

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