In addition, on Oct. 23, Facebook CEO Mark Zuckerberg attended a House Financial Services Committee hearing on the virtual currency Libra program to discuss his plan for the new encrypted currency Libra, saying that Facebook was not trying to help create a new sovereign currency and that Facebook would not launch the Libra payment system until it was approved by U.S. regulators. Prior to this, there were reports that Paypal,Visa, MasterCard, online travel company Booking,eBay and other Libra associations were created. The beginning members announced their withdrawal.
Recently, as stable currency trading volume such as USDT has increased, the speed of bitcoin trading has slowed significantly and trading has been depressed. Bitcoin trading volume has fallen to less than $200m a day on the top 10 big digital currency exchanges, compared with a maximum of $4 billion a day a few months ago, according to data from Messari, a bitcoin and encryption data company.
There are views in the industry that Facebook Chief Executive Mark Zuckerberg's testimony to the House Financial Services Committee on Wednesday was one of the reasons for the decline in Bitcoin. "Facebook's Libra is under a lot of pressure from Washington," said Matt Maley, equity strategist at Miller Tabak Co.
In the early hours of September 25 th, the collective diving of the main stream coins, led by Bitcoin, plummeted. Bitcoin tumbled 15 per cent to a low of $7944, according to CoinDesk. It was the first time since mid-June that Bitcoin had fallen below $8000, its lowest level in four months.
Bitcoin prices rose all the way since April 2019, climbing above $12000 in July, recovering from a pullback below $10, 000 at the end of August, falling below the $8000 mark in late September and floating above $8000 since then. The prices of other virtual currencies, such as Etai Fong, have also plummeted by nearly 10%.
It is worth noting that Bitcoin futures contract statistics show that in the past 24 hours, there may have been a total of 470 million USDT, or about 3.3 billion yuan of warehouse receipts. The data show that the specific contract exchange information counted by the currency Coin, is unknown, and the app has previously reported that OKEx and Huobi.DM contract trading orders have been listed.
On the evening of the 23rd, Beijing time, Bitcoin prices suddenly flashed, falling as much as $500 from $8000 to around $7500 in an hour. In the early hours of Thursday morning, Bitcoin fell below $7500, its lowest price in five months. Related A-share companies have warned of hype risks.
In fact, in the market crazy speculation concept stocks, the relevant companies have prompted risk. Zhidu shares rose sharply for three weeks in a row, rising 59.59% this month. The company said it has been concerned about the development of big data, blockchain, digital currency and other technologies, but the existing business is not directly related to blockchain and digital currency business.
Guosheng Securities also recently released a research report that because of its high return on investment, good liquidity and low correlation with other assets, Bitcoin is more like an alternative investment target than it aims to be a global currency.
Analysts in the virtual currency industry said the two blocks were born about 10 minutes apart and 50 minutes apart, with many possibilities, such as Internet congestion, during which time users could not successfully transfer virtual money from their wallets to the exchange for sale because user wallet virtual currency transfer information had to be recorded in new blocks, according to an analysis from the virtual currency industry, which means that users will not be able to successfully transfer virtual money from their wallets to the exchange for sale in nearly 50 minutes, according to an analysis by people in the virtual currency industry, which means that users will not be able to successfully transfer virtual money from their wallets to the exchange for sale. In addition, it said that the decline in Bitcoin prices is not necessarily related to the block speed.
Some related A-share listed companies are in the doldrums. Golden Crown shares in Digital currency number one are down 14.16 percent so far this month and more than 13 percent last week alone. Prior to this, the company signed a strategic cooperation framework agreement and an investment intention agreement with Mobile Internet Co., Ltd. The main purpose of its investment is to open up the block chain, digital currency, big data and AI in the orderly charging grid of new energy and the global market of the ubiquitous electricity Internet of things.
Prices fell as no new blocks were dug out of the bitcoin blockchain for nearly 50 minutes. Bitcoin.com showed that 600701-height Bitcoin blocks were dug up at 21:18 Beijing time on the 23rd, 48 minutes apart from the next height.
(picture source:搜狗图片)
Some market participants remain optimistic about Bitcoin's aftermarket performance. Industry insiders believe that the decline is more like a "short wash" operation, is the recent release of disappointment, when the short force released, will usher in a new market again.
