Bitcoin Flash crashes again! More than 310,000 people finished their work in 24 hours, the rate drops by 40% depending on their height, and there are still many singing moguls.

European and US stock markets fell sharply last week, with some organizations stating that "US S&P stocks will drop 45%. The cryptocurrency market is in a strong downtrend, and Bitcoin has suffered a decline over the past two days, causing great damage to investors.

Bitcoin drops 40% from highs

On the evening of January 22, 2022, Bitcoin fell below $36,000 per share during the day, with the biggest drop of 12.8%. According to the press release, the price of BTC has increased slightly from the previous day, and the current price is said to be around US$35,123 apiece, or about 226,872 yuan apiece. Ethereum also fell, with the last reported price of $2,434, or around 15,723 yuan.

It should be noted that Bitcoin fell sharply after hitting a new high of $60,002 in November 2021, up 40%.

The flash cryptocurrency crash has once again caused investors to face the market. According to data from BTC123.fans, more than 310,000 people are "bleeding" on the network in the last 24 hours and more than 6.6 billion in total revenue.

The last "crypto winter" happened in late 2017/early 2018, when Bitcoin fell from nearly $20,000 a coin to under $4,000 and stayed below $4,000 a coin for more than 20 years. year, embarrassing cryptocurrency investors. I did. The values ​​of faith have been lost. Global wealth management firm Invesco also noted in its forecast its top 10 events for 2022, announcing last week that the Bitcoin bubble is likely to burst quickly and below $3,000.

Bitcoin is still bullish by the giants.

When it comes to bitcoin expectations, many big offshore internet companies sing even more. Musk, the founder of Tesla, once announced that he could pay for some of the company's products in Bitcoin, but eventually quit, but that still hasn't affected his interest in cryptocurrencies. . Just a week ago, Musk announced in a press release that Tesla products were starting to be accepted by Dogecoin.

Musk isn't the only one hoping for cryptocurrencies. Michael Thaler, founder and CEO of MicroStrategy, the world's largest public bitcoin company, reiterated on Thursday that it will not sell its bitcoin wallet, even as the cryptocurrency's price has risen since November 2019. height is less than 40%. The Bitcoin bull market has stated that it is unwilling to sell its crypto assets despite the long bear market.

In 2020, MicroStrategy became the first US company to buy and hold Bitcoin on its balance sheet. Since then, the smart software industry has amassed around 124,391 bitcoins, which equates to $5.2 billion in current value. MicroStrategy has been raising its Bitcoin capital since August 2020 and delivering on its promise to buy more cryptocurrencies.

After announcing that it would invest thousands of dollars in Bitcoin, the company's stock price jumped over 900%. However, the recent reluctance to continue buying Bitcoin, largely backed by loans, has raised concerns among investors. Shares of the company have fallen 16% in the past 12 months, compared to a 35% rise in Bitcoin. This suggests that Thaler would have opted for a dangerous plan. Additionally, MicroStrategy has been buying Bitcoin at a higher average price than the current market price since late February last year.

Seljian said in a recent interview, "We're not selling. We're just buying and holding Bitcoin. That's our strategy."

or facing international governance issues

The cryptocurrency market is facing increasing international standards. According to the Financial Times, the European Union's top finance official has asked the EU to limit the growth of bitcoin mining. Erik Thedéen, vice-president of the European Securities and Markets Authority, said bitcoin mining has become a “national problem” in Sweden and that cryptocurrencies pose a risk according to the Paris Charter.

Diana Biggs, managing director of Canada-listed digital real estate brokerage DeFi Technologies, said there would be new threats from the government to limit cryptocurrency interference. However, he said, "As we have seen in the past, the implications that characterize Bitcoin itself are incredible and exist outside of building a sovereign state, and its lending is not granted by the sovereign state. Personally, I think this is one of the most interesting."

On Thursday, Russia's Central Bank, the world's third-largest cryptocurrency miner, called for a ban on cryptocurrency mining and tourism. The cryptocurrency has a pyramid structure, which undermines the independence of financial management, poses a threat to the Russian financial system and leads to problems such as poor electricity consumption.