Bitcoin is the market benchmark in the cryptocurrency world . Since last year 5 month 19 Japan COVID Since the outbreak driven collapse , The cryptocurrency market has seen its worst decline .One day slump 33%, At one point it fell to 29,000 The low point of the dollar . meanwhile ,ETH And other important cryptocurrencies lost before they hit the bottom 60% Above value .
On Black Wednesday , The derivatives exchange cleared the value 86.1 Billion dollar position , Last year 3 month 12 Four times the daily lightning crash . This figure is still lower than this year 4 month 18 Created by the sun 97.95 An all-time high of $billion .
Due to the sharp decline , Include Coinbase、Binance and Huobi Several cryptocurrency exchanges, including, suffered disruptions . result , It is difficult for leveraged traders to provide collateral for their unstable positions , Resulting in an alarming number of liquidations .
Bitcoin will not return in the next three weeks 65,000 The dollar is not impossible . There are many factors at work , Including regulatory and upcoming Ethereum upgrades （8 month 4 Japan ）, This could drive price volatility
GBTC Negative premium ： since 2 Since the month , Largest bitcoin fund —— Gray bitcoin trust (GBTC) Our shares have been trading at a discount . With a large number of shares in the trust unlocking , This is unlikely to change . Even though GBTC Can't redeem , But some investors who should have bought bitcoin on the spot market may continue to sell by taking advantage of the price decline caused by current market conditions .
Computing power is unstable ： Miners are closing their operations across China , Resulting in a large number of idle mining equipment . Bitcoin mining is not suitable for people who are guilty or short of cash , But it does provide investors with the opportunity to buy bitcoin at a price lower than the current market price . Whether China's idle machines can be used in North American operations or other emerging mining centers is uncertain . If there is , There may be insufficient managed space .
What do you think of the future of bitcoin ？
The market intermission may indicate a short decline between bull cycles . Because cryptocurrency is currently one of the biggest outlets in the financial market , The number of applications with digital asset options is growing .
Investment and banking applications will continue to roll out encryption enabled features , Make it easier for people to diversify their portfolios . This will provide a way for people to start participating in the crypto ecosystem , Whether by sending bitcoin or Ethereum to friends and family 、 Buy NFT Or participate in DeFi. Fintech companies and traditional banks will begin to provide more encryption products to remain competitive , And bring efficiency to its business . Credit card points will be replaced by encrypted rewards , Add real and exciting value to customers .
With the improvement of mechanism adoption rate , All encryption projects need to run at a higher level , To compete and meet the needs of a growing customer base . We've seen PayPal、Venmo and Cash App When payment applications begin to support top-level encrypted assets , This is a step in the right direction to make encryption ubiquitous around the world .
without doubt , COVID-19 accelerates the trend of Digitalization —— Shift from to remote work , To NFT Adoption and fluctuating encryption prices . More specifically , The popularity of encrypted property has increased dramatically . People want to use transaction cards 、 Domain name and digital currency, etc NFT Take ownership of . The past since the outbreak began 18 months , As people use and participate in digital technology, it becomes more comfortable , The trajectory of cryptocurrency has permanently shifted upward , There is no turning back in the current bull market .
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