Bitcoin has lost 20%: digital money has been completely lost.

On December 4, Beijing time, Bitcoin fell 20.59% to $ 42,587.8. He has since returned, but he also lost more than 10% in the same day.

According to the press release, the price of Bitcoin was around $ 49,176, down almost 30% from its previous high of $ 6,899.6 on November 10.

Ethereum posted around US $ 4,079.2 per coin, down 16% in the session. In addition, to date, EOS has fallen over 18%, Cardano has fallen over 8%, FIL has fallen over 17.45%, Monero has fallen over 8%, Dogecoin has fallen over by 10%.

According to the data, as of 8:00 p.m. on December 4, a total of 417,000 people were employed in the past 24 hours, and the total digital contract completion network revenue reached $ 2.584 billion. Of these, Bitcoin's 24-hour liquidation alone exceeded $ 1 billion.

trong/ppBitcoin prices have continued to decline since their peak on November 10. Especially in December, Bitcoin prices rose sharply./ppOn December 3, Bitcoin fell more than 5% to a low of $ 52,008.9, and on December 4, Bitcoin continued its decline, for a time falling below $ 50,000. or 42,587 USD. September 30-day low price with 10,000 USD./ppSome domestic analysts believe over-trading could be the main reason for Bitcoin's crash. According to data tracked by Coinglass, nearly $ 600 million in open Bitcoin futures positions began to liquidate within an hour of the fall in Bitcoin's value. A recent report from Aoshu Research Corporation indicated that open interest in Bitcoin futures has remained above 365,000 lots for more than a month. The market is overexploited./ppThe Huobi cryptocurrency trading platform recently published an internal notice warning users in China to withdraw their financial assets, deposits for users in China will be closed until December 14 and in mainland China on December 15. Markets for consumer benefits will be closed to OTC negotiations on December 31./ppstrong pingfang sc "," hiragino sans gb noto microsoft yahei "> Munger praised China's decision to ban cryptocurrencies.

As bitcoin prices plummeted, Warren Buffett's longtime partner and Berkshire Hathaway vice president Charlie Munger also criticized the cryptocurrency.

“The global business environment is now 'crazier' than the dot-com bubble of the '90s,” Munger said at a recent trade conference.

“I think China made the right decision,” Munger said.

Already in 2013, five agencies and regulators, including the People's Bank of China, issued a "Bitcoin Risk Protection Notice," Bitcoin said There is no one-size-fits-all rule about money and cannot and should not be spent in the market. hours. , financial and payment companies "do not use Bitcoin as the price of a product or service, do not buy or sell Bitcoin as an intermediary partner, do not subscribe to the industry. insurance of assets linked to Bitcoin or do not include Bitcoin in the area of ​​insurance coverage. Provide other "Bitcoin intervention services" to consumers, directly or indirectly, without affecting the trading of financial risks .

In 2017, the People's Financial Corporation of China, together with Cyber ​​Headquarters and 7 other institutions, announced the "Financial Institutions Protection Notice", which suspects virtual currency trading platforms and ICOs (Initial Coin Offerings) of illegal financial activities. We have worked on maintenance and refinement to avoid the impact of virtualization on our country.

From 2021, the People's Bank of China will question some banks and payment companies about the hype in the virtual currency market, provide all banks and payment sites with "Bitcoin Risk Protection Notice" and "Notice security protection in financial institutions. Declaration of tokens “require strict regulation.” Other regulations prohibit the provision of goods or services, such as openings, registrations, transactions, withdrawals, contracts, etc. for open accounts, registration, marketing, trading, marketing, payments, etc. are linked.

On September 24, 10 departments, including the Joint Venture Corporation, jointly announced the "Notice on the Prevention and Operation of Criminal Proceedings in" Financial "Transformation. In the "Report", it is stated that all transactions affecting the virtual marketplace are illegal, and foreign exchange services providing services to Chinese people on the Internet are also illegal financial transactions.

On the same day, the National Development and Reform Commission and 11 other organizations convened a "Virtual Currency Innovation Notice" Mining "Operation", describing the monitoring and modification of virtual profits "Mining" and create the following operations . Adjust the chain throughout, including the "method speculation" model.

“There is no hope for either party to join this crazy success. It seems to be going well, everyone wants relief, and my emotions, I want to make money selling their good products, I think of myself.