Summary: Multiple empty stimulus Bitcoin prices have continued to decline sharply

Xinhua News Agency, New York, June 18th: Multiple empty stimulus Bitcoin prices have continued to decline sharply

Xinhua News Agency reporter Liu Yan

As the Federal Reserve ’s interest rate hike increasing investors' concerns about economic recession, risk aversion demand for financial markets, and the prices of cryptocurrencies such as Bitcoin have fallen sharply in the past week.

According to data from the "Bitcoin Base" of the US cryptocurrency trading platform, the price of Bitcoin and Ethereum has fallen by more than 30%in the past 7 days. Bitcoin's single price fell below $ 18,000 on the 18th, a drop of more than 70%compared with the historical high in November last year.

Due to the high rate of interest rate hikes on the 15th, the Swiss Central Bank raised interest rates on the 16th, and investors' concerns about economic recession have intensified, and the prices of risk assets such as stocks and crude oil have fallen significantly. Surprisingly.

The Federal Reserve Director Christopher Waller said on the 18th that if the subsequent data meets expectations, he supports the Federal Reserve to raise interest rates in July 75 basis points.

At the same time, a number of cryptocurrency platforms have significant lumps, the flow of funds flows to risk aversion assets, and the price of cryptocurrencies has intensified.

The "Bitcoin Base" company recently stated that cryptocurrencies may enter the "winter" and will withdraw about 1,100 full -time employees, accounting for 18%of the total number of employees.

The US cryptocurrency lending platform Celescius Networks recently said that due to the "extreme market conditions", it has suspended the withdrawal, exchange and transfer of all cryptocurrencies of the platform account. The market is concerned that the platform locks cryptocurrency assets, which may mean that it is facing the risk of repayment.

Gil Legit, co -founder and chief strategic officer of financial technology software development and blockchain company ESPRESSO Systems, believes that the price of cryptocurrencies is currently in a long -term decline.

Paul Donovan, chief economist of UBS global wealth management, said that if labor and resources are transferred from cryptocurrencies to practical economic sectors, the economy may benefit.

[Editor in charge: Shi Ge]

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