At one time, the price of Bitcoin, US $ 18,000, or further declined

As of June 20, of Bitcoin, of the 10 major flow addresses in the past 7 days, the total net outflow of 4 addresses and a total of 56,000 Bitcoin was calculated at a price of 20,000 US dollars.

Bitcoin is experiencing a crisis of trust.

The price of Bitcoin fell below $ 18,000 on June 19, a new low in the past two years. On June 20, the price of Bitcoin rose slightly to $ 20,000. Even so, this is still a small gap compared with the historical highest price of nearly 69,000 US dollars in November last year.

At the same time, in the past week, many virtual currency lending platforms and trading platforms such as CELSIUS announced the suspension of Bitcoin withdrawal, which exacerbated market panic, a large number of investors sold them, and the "stepping effect" appeared.

As an emerging alternative asset, Bitcoin has been held by many overseas investment institutions for a long time. Whether the Bitcoin crisis will further transmit risks to the global economic system, which has attracted much attention from the market.

Bitcoin price still has a downlink space

For Bitcoin, which surge, the recent decline is not large, and the weekly decline is about 11%. The industry believes that the reason why this wave is regarded as "extreme market" is mainly because it breaks through the psychological defense of investors' psychological defense of Bitcoin prices -$ 200,000.

In mid -December 2020, the price of Bitcoin, which exceeded $ 20,000 for the first time, completely ignited the enthusiasm of investors, which opened a one -year soaring model. In November 2021, it approached $ 69,000 Essence Entering 2022, the market turned sharply, and the price of Bitcoin fell all the way and fell below $ 20,000 on June 18. It broke the investor's psychological defense line. A large number of selling prompted Bitcoin prices to fall below $ 18,000 on June 19.

In response to the reasons for the decline in the price of Bitcoin, Yu Jianing, the co -chairman of the Blockchain Special Committee of the China Communications Industry Association and the president of Hua Da Education, believes that it is mainly closely related to the global financial market. He told a reporter from the Securities Daily that the market is currently in the bottom of the Federal Reserve ’s interest rate hike. The US CPI is high, which means that the Fed’ s previous interest rate hike policy does not effectively alleviate domestic inflation pressure. Essence The Federal Reserve ’s subsequent interest rate hikes, benchmark interest rate adjustment, and scale of shrinkage are still very unknown. The global financial market is challenged, and Bitcoin is also affected.

"Many mainstream encrypted asset prices are still reflected by the stable coins of the anchored US dollar. They are greatly affected by the US dollar policy and the US market. To some extent, it can be regarded as a secondary market in the mainstream trading market such as US stocks. Affected by the risk of economic recession in the United States, it is transmitted to the encryption asset market. "Zhao Wei, a senior researcher at the Ouyi Research Institute, told the Securities Daily reporter.

"Affected by the Federal Reserve's interest rate hike, as a cryptococumerous asset with a large volatility, virtual currency such as Bitcoin is easily affected by market panic and is sold." Chen Xiaohua, executive director of the center, told the "Securities Daily" reporter that from the perspective of the overall market tone of the global investment market, Bitcoin did not have a clear recovery signal, price or further exploration.

The virtual currency market software non -trumpet app shows that as of 5 pm on June 20, the latest price of Bitcoin has risen slightly to US $ 21,000, with a market value of 393.7 billion US dollars and a 24 -hour transaction value of $ 23 billion. "Bitcoin is in a state of super decline in a short period of time, and a shock rebound is a normal market fluctuation." Zhao Wei said.

Yu Jianing believes that Bitcoin's current rebound is a repair of repair after the plunge, but it does not mean that the market trend has reversed.

Institutional selling tide up

Lawyer Ding Feipeng, partner of Beijing Langong Law Firm, told the Securities Daily that the market performance since this year has confirmed that Bitcoin has always been not so -called "digital gold" or risk aversion assets. As a specific virtual product, virtual currency represented by Bitcoin has always been high risk.

At present, the weakening Bitcoin is being sold by more and more investors, and the capital flow of large coins has accelerated. The non -trumpet app shows that as of June 20, in the last 7 days, of the top 10 mobile addresses in Bitcoin, the net outflow of 4 addresses and a total of 56,000 Bitcoin, which was calculated at a price of 20,000 US dollars, the outflow amount exceeded 1.1 billion Dollar.

"As the price gradually decreases, some institutional investors have entered the stage of stop loss." Yu Jianing told reporters that the proportion of institutional investors in an encrypted asset market has increased and has become an important participant. At the same time, the cost of holding the positions in many institutions is not low, such as NEXON and other institutions that enter the market to hold nearly $ 50,000.

The industry believes that the plunge of the virtual currency market represented by Bitcoin will not have a impact on global economic development. Yu Jianing said that on the one hand, the total market value of the crypto asset market is less than trillions of dollars, and the volume is relatively small, which is difficult to affect the global economic development. On the other hand, the encrypted asset market and the traditional financial market are relatively weak, and the possibility of fluctuations spread to the real economy.

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