Do cryptocurrencies like Bitcoin signaling need to be integrated, jeopardizing the status quo of major global gains?

"Virtual Currency Collective Flash Crash" makes Baidu research famous. According to the report, a total of 417,000 people have been employed in the past 24 hours, as of this Saturday afternoon, and the total digital contract value of the entire network has reached $ 2.584 billion (approx. 16.4 billion RMB). Here, the value of Bitcoin liquidation in 24 hours alone exceeds $ 1 billion. At 9 p.m. yuan).

Image source: Internet

Image source: Internet

The "flash crash" of Bitcoin and other cryptocurrencies is not without its drawbacks.

First, the management of the domestic environment has been strengthened. In September of this year, 10 buildings, including the venture capital firm and the Central Cyber ​​Space Administration, were merged into a “Protection and Exploitation Notice” of hyper-advertising risks in online transactions. virtual currency ”. The National Development and Reform Commission immediately released the "Notice on Cryptocurrency Mining Activities" to the National Development and Reform Commission and other departments on its official website. Later, some well-known exchanges started cleaning up existing users in mainland China and not registering new users, including Binance and Huobi.

Second, the market value of cryptocurrencies such as Bitcoin has increased, posing a threat to fiat currency, so there is an urgent need to limit it. In February of this year, the Federal Reserve confirmed that Bitcoin had hit the US dollar. As of November of this year, global crypto assets had indeed reached over $ 3 trillion in total market value, exceeding the size of the UK market as a whole. A month later, "Virtual Currency Collective Flash Crash". Cryptocurrency is dropping sharply right now, but earnings are still better than the yen.

Is Bitcoin Worth It? This is an issue that has been discussed in the past. JPMorgan Chairman Chase Bank, who has repeatedly said Bitcoin is not worth it, changed his behavior in 2018, immediately feeling it was worth it. The Bank for International Settlements has also changed its behavior. The Bank for International Settlements has always asserted that Bitcoin is worthless and publicly announced that Bitcoin is expected to devalue to zero by February 2021. However, in September of this year, it is believed that Bitcoin may join other digital currencies and digital bank accounts (see statement cover and key report terms), admits to knowing their value.

The Bank for International Settlements is one of the world's most sought-after financial institutions, and even the regulator has changed its mind. It's worth considering all of the scientists who paid attention to virtualization leadership.