Source: wind
Niuniu knocks on the blackboard:
Historically, every fall in Bitcoin has been rewarded as long as it has lasted for a long time. The rise of Bitcoin has been accompanied by skepticism and ridicule, and this time is no exception.
Hong Kong's Wande News Agency reported that under the agitation of Musk, the price of Bitcoin has fluctuated greatly and has fallen by more than 35% from its all-time high. looking back at the short 10-year history of Bitcoin, it will reach a new high after halving each time. The only difference is the length of time. Will history repeat itself this time?
In the early hours of Monday, Beijing time, Tesla CEO Musk's response was interpreted as "Tesla may have sold his Bitcoin", causing Bitcoin to fall by more than $6000 to reach the 43000 mark and EtFang by more than 14% to lose $3300. Mr Musk later clarified that Tesla did not sell any bitcoin and that bitcoin had returned to $45000 at one point.
According to Bitcoin Home, a total of 234000 people have burst positions in the cryptocurrency market in the past 24 hours, with a total amount of 14 billion yuan and a maximum of US $90 million.
Bitcoin has been on the market for more than a decade, although it has seen a huge increase now, but its road to rise has never been smooth. It has been halved many times and even close to liquidation. The magic is that the final trend is upward, so some people say that as long as you can endure, there is no loss of money.
In the early days of the listing, Bitcoin fluctuated so much that it was easy to halve and even cut the ankle. In September and October 2010, the decline was as high as 94%, as low as $0.01, almost equivalent to liquidation.
In 2011, it fell by as much as 94%, falling as much as $32 to $1.99 in five months.
As the price of bitcoin gets higher, each decline becomes smaller, but it pulls back more than 30% almost every year or two. Bitcoin experienced a year-long decline from the end of 2017 to the end of 2018, falling as much as 84 per cent from $19783 to $3122.
Historically, every fall in Bitcoin has been rewarded as long as it has lasted for a long time. The rise of Bitcoin has been accompanied by skepticism and ridicule, and this time is no exception.
Nicholas Johnson, commodities portfolio manager at Pimco, said the idea that digital cryptocurrencies were inflation-fighting assets was "strange" and was just a "reason" for digital currencies to continue to rise at a time when digital cryptocurrencies are soaring and anti-inflationary assets such as gold are underperforming. Jeffrey Gundlach, the new creditor, also believes that Bitcoin and other cryptocurrencies are typical of market speculation with frothy valuations.
So, is there a bubble in Bitcoin? Will the bubble burst this time? Or will it continue to reach a new high after falling? We'll see.
Edit / Phoebe