The Central Bank reiterates that Bitcoin is in danger! Bitcoin nearly 10,000 yuan, 800 million yuan of broken funds.

Bitcoin, which was recently blocked by the entire network, has crossed the $ 50,000 mark and is on the verge of rebirth.

This wave of Bitcoin gains seems to make traders forget the stress of past gains. Previously, the value of Bitcoin was reduced by $ 64,900 per month. The story of exporting a mining machine, selling a mining machine, and exiting the cryptocurrency market continues.

Central bank executives reiterated this week that virtual currencies such as Bitcoin are not fiat currencies and do not support actual prices.

Risks of the central bank Rov ua dua Bitcoin

August 27, 2021, during the press release of "Financial Literacy Popularity Month, Financial Literacy Over 10 Million," the recovery of the virtual economy. The Hype and Financial Firms of China's Financial Institutions Yin Youping, vice president of Law Enforcement Corporation, has been working with China's financial institutions since the start of the year. Here, the department said it has taken important steps to monitor and track foreign trade and domestic traders. Blocking and Destroying Websites and Apps, Blocking Payments, and Promoting Advertising Policies The reputation of exchange rates has collapsed.

He also pointed out that in the next phase, the Company will be responsible for establishing the normal operational responsibilities, handling the high-risk situation and continuing to intervene in order to create hype in the industry.

“Bitcoin and other virtual currencies are not fiat currencies and have no real value. The effects in the market are only speculative. You need to increase risk awareness, remember Stay away and protect your “purse.” Report financial crimes. Going to the temple may be appropriate, ”he said.

Yin Youping said that as a member of the "Cooperation within the Association of Illegal Finance Trade Unions", the People's Financial Corporation of China has conducted illegal fundraising operations under the name of "blockchain. ".

800 million yuan of funds missing.

August is a very busy month for the world exchange rate. Bitcoin, which has been around for a long time, rebounded and its value hit $ 50,514, a new three-month high.

On the morning of August 29, the price of Bitcoin fell further, falling more than 26% from its annual high of $ 64,901 to its temporary value of $ 48,254, which had already fallen by more than $ 1,500. .

Image source: OKEx

This means that if a trader buys 1 Bitcoin in April of this year, the loss has reached 107,000 RMB.

Pan Helin, director of the Digital Economy Lab at Zhongnan University of Economics and Politics, pointed out that a key factor in the rise of cryptocurrencies is the continued expansion of the Fed market. Profit growth, the weak US dollar, and virtual gains were impressive as the technology progressed.

Bitcoin is currently the chart's uptrend blocked by the 13-day moving average, according to market analysts, creating a short-term bullish pattern, so he believes it will take some time to address this. If the 200-day moving average falls below the 200-day moving average in the future, it looks like the market outlook will be revised further, meaning the recovery is generally over. The key protection level above Bitcoin is $ 50,000 and the support level below is $ 46,000. According to the chain's data, the number of business addresses continues to decline, the exchange rate volatility is low, and the short-term market strength has increased, increasing the strength of the short position.

According to Bytetree data, aggregate data on miners 'production and sales shows that miners' production fluctuates and miners as a whole are still interested in selling, which could create some resistance to the higher outlook. of the Bitcoin industry.

Photo source: Bytetree

The value of Bitcoin fluctuates rapidly, prompting many traders to complete their tasks. According to UAlCoin data as of August 29, a total of more than 800 million yuan of virtual currency contracts were generated per day, and nearly 5,000 people suffered from bleeding.

Image source: UAlCoin

Beware of cryptocurrency scams

The use of cryptocurrencies and other fraudulent and criminal activity gradually increased as performance recovered in the cryptocurrency hype industry.

According to statistics from the US Federal Reserve (FTC), according to media reports, US consumers lost nearly $ 82 million in cryptocurrency scams last year in the six months of Q4 2020 and Q1. 2021. The weather is the same. Among them, the groups most at risk for the cryptocurrency market are Americans between the ages of 20 and 49.

According to statistics, since December of last year, the world collapsed due to cryptocurrency fraud reached $ 4 billion, and the fraud includes "public currency" fraud, fraud on social networks, cryptocurrency theft and illegal use.

Zhongzheng Jun uses "Bitcoin" as a keyword to search for authentication information on the China Order Information Network. To date, there are 1,165 criminal cases, 1,265 civil cases, 8 administrative cases and various “wind pieces”. -When the "currency market level", the cost involved in the deal is a total of 10,000.

Dong Ximiao, chief analyst at China Financial Union, said the uncertainty and negative development of virtual currencies is affecting the country's monetary regulation, disrupting economic and financial conditions and undermining national financial security. Without proper supervision, the distribution and anonymity of virtual resources can lead to financial border crossings and terrorist attacks. A rise or fall in a business can cause the financial system to slow down or lead to financial risk.

Dong Ximiao said the public should understand the dangers and risks of Bitcoin and other virtual currencies, prevent temptation, protect their wallet, and avoid participating in any form of market or forecast fraud. The central bank reiterates that Bitcoin is a problem! Bitcoin nearly 10,000 yuan, 800 million yuan of broken funds.