Bitcoin lost 7% in one go, over 200,000 people exhausted the entire network in 24 hours and $ 5.3 billion was lost!

A few days ago, Bitcoin started to fall. The downtrend deepened after the publication of the Fed’s last-minute meeting on Thursday morning, with the Bitcoin index once falling 7% to at least $ 42,535 a coin.

It should be noted that on December 4, 2021, the Bitcoin index suddenly fell, dropping 20% ​​at a time, with a value of at least $ 42,587 per coin.

According to the press release, the Bitcoin index was reported at $ 43,077 per coin.

According to data from the Bitcoin Home Network, in the past 24 hours, a total of 206,109 employees worked across the entire network, and $ 840 million (about 5.335 billion yuan) in income to work. .

FRNT Financial Inc. cryptocurrency platform “The meeting at the Fed was hawkish,” said company CEO and co-founder Stéphane Ouelette. “Despite the long-term trend around inflation and cost savings, the unconscious reaction of cryptocurrency investors often sees them as downright dangerous.” Coins The situation can be worse than it looks. The weakness of the packaging industry, the collapse of future interests and the number of permanent establishments are all affected.

David Donabedian, Chief Investment Officer of CIBC Private Wealth Management, said: “This is a desirable and unreliable investment that will be important.

Jim Greco, director of crypto trading firm Radkl, said:

“Prior to May and November of last year there was a lot of physical activity. Maybe a lot of it was phased out and need to be replaced with new capital.”

Interest in investing in Bitcoin is waning and trading is slow. According to Kaiko data compiled by Messari, the exchange rate was only $ 4.8 billion on Tuesday after several months of decline. This is down from $ 13.1 billion the previous year and the annual average of $ 9.2 billion.

On December 4, 2021, the value of Bitcoin fell more than 20% per minute, and Bitcoin’s trading volume has not exceeded $ 10 billion since. According to data from Coinglass.com, investors liquidated around $ 2.4 billion in short-term and long-term crypto exposures during the fall.

In the case of Bitcoin’s slow pace, growth in active address (a measure of market activity) has also stagnated.

Kantorovich, director of advertising agency FalconX, believes this could be the basis of a short-term, debilitating, collision-like nature of the month of the Twelve Apostles.

Kantorovich also wrote: “Less space, more assets can be stored in a“ cold store. ”The less bitcoin you can trade, the more you can trade. As the revenue from orders dwindled. I think we’ll see very soon. And a short flash crash similar to what we saw in December of last year and closed very quickly on shopping. “

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