What happened? Bitcoin fell 70% a year when catty sell scrap mill

21 am Beijing time, bitcoin prices fell below $4100 this week, the cumulative decline has reached about 30%, the price dropping to the lowest level since September of last year.

Bitcoin fell over 70% years “hard branching into collapse push

COO Yu Yang: now the sea mine assets or shrink faster, more powerful, recently many large institutions have a warehouse explosion.

Bitcoin plummeted, many analysts believe that bitcoin cash and “hard branch”.

Bitcoin is one of the bitcoin currency cash bifurcation, it is used to solve the resulting transaction and the problem of low efficiency because bitcoin block smaller capacity.

Last week, bitcoin cash made second “hard bifurcation”.

Peking University Guanghua School of Management financial department director Liu Xiaolei: for example, originally a WeChat group, everyone in the group chat, suddenly divided into two groups, in the process of the split is a war, this time very large fluctuations.

Investors are worried that the bitcoin bifurcation will lead to the scarcity of variation, existing bitcoin value will be diluted. Compared with the beginning of this year, it involved the high dollar, bitcoin year decline has reached 76%. A calculation of the website reflect the bitcoin investment confidence index has reached the “very scared”, close to the lowest value for a year.

Renmin University of China International Monetary Institute researcher Li Hong: with digital currency itself now, this did not produce social profit creation, more from a speculation, selling confidence will inevitably lead to the weakening of the retail market, the digital currency could continue to decline.

Data show that the current global total market value of encryption currency for 820 billion dollars, compared with last year 12 month compared with the highest value has dropped to 75%.

Miners stop off

Bitcoin mining machine with currency price languishing and suffered mine: some small and medium-sized mines but mine resale liquidation.

One has more than 2000 Taiwan ore miners said that in the stock market these days, he has dug 30 coins, according to the current price is not high electricity. “This is Yu Yue to dig more pay, just off the phone.”

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, 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 mills that is equivalent to the loss of more than 1 hundred million.”

According to the information display, after some small bitcoin mine mill hill of general waste heap in the yard, even being in accordance with the price of catty to sell scrap metal.

Original title: what happened? Bitcoin fell to 70% a year, said the pounds sold as scrap mill…

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