Black Pipper

Forex Dreamers

1 million traders lost their funds due to bitcoin crash.

Well, at the time of this writing, Bitcoin continues to lose value. If we take into account not only today’s drop in quotations (-10,000 $), but also the fall of previous days from the last maximum, then the total “digital gold” has already lost $ 14,000 (if we count to today’s minimum). Thus, at the moment the “cue ball” became cheaper by $ 14,000, which is approximately 20% of its maximum value. Minus 20% in a couple of days because in one of the provinces of China there were several accidents at coal mines, which caused power outages. Nearly $ 10 billion in transactions have been liquidated in the last 24 hours, according to data from the largest cryptocurrency exchanges. It is not hard to guess what these deals were (for the purchase, – author’s note). The largest forced closed deal was $ 69 million. After today’s collapse of the entire cryptocurrency market (which has not yet been completed), the bitcoin dominance index is 50.6%. Recall that a week ago this figure was 54%. This suggests that bitcoin is losing its attractiveness in the eyes of investors, and other cryptocurrencies are gaining it. This is exactly what we talked about earlier. Bitcoin has risen in price too much and already few want to buy it. Especially against the background of the development of other cryptocurrencies.

Also read  The rise in oil prices deprived US oil and gas companies of the title of the most problematic sector

Meanwhile, the head of the Binance cryptocurrency exchange, Changpeng Zhao, said at a conference that the cryptocurrency industry needs government regulation. “If I were a regulator, I would definitely transfer the rules from the world of finance to the cryptocurrency sphere,” he said. Zhao also said that the crypto community needs protection and, in his opinion, only regulation at the level of legislation and the state can provide it.

At the same time, it is the states that can not only protect the crypto community, but also bury it. At least, the Turkish authorities are also blamed for today’s drop in cue ball quotes, which have decided to completely ban the ability to pay for goods and services with cryptocurrencies on their territory. Some experts fear that if other countries follow Turkey’s example, this may negatively affect the rate of the number one cryptocurrency. The problem is that, as we said earlier, it is not profitable for almost any state to have such a cryptocurrency on its territory, the turnover of which cannot be tracked. Accordingly, there is no doubt that most countries in the world will struggle with cryptocurrencies. Someone with taxes, someone with bans, someone with tough regulation.

Also read  Dollar weakens, the Pound is correcting

In the meantime, bitcoin is “aiming” for a new collapse, experts have calculated that the alleged state of the alleged creator of bitcoin Satoshi Nakamoto could be more than $ 50 billion, even taking into account the latest drop in the cue ball rate. According to various sources, the mysterious Nakamoto can own from 750 thousand to 1.1 million bitcoin coins, which at the current exchange rate are estimated at more than $ 50 billion. Thus, the unknown Mr. Nakamoto may now be included in the list of the 20 richest people on the planet. And that’s without taking into account the Bitcoin Cash, Bitcoin SV and Bitcoin Gold coins, which were formed as a result of the forks.

Also read  General analysis and forecast of USD/CAD for today, April 9, 2021

Leave a Reply

Your email address will not be published. Required fields are marked *