Bitcoin prices rebounded to around $ 8300 on February 9. The lowest bitcoin price closed at $ 5,215 on November 12, 2017. In recent weeks, bitcoin prices have continued to plummet, with Bitcoin at 20K The highest point of the dollar has fallen 70%, bitcoin prices within a week than the $ 10,000 price decline as high as 40%.
It is noteworthy that so far the total market value of global bitcoin has lost more than 50% to 233.3 billion US dollars.On the other hand, Ethereum created on January 13 the high price of 1432.88 US dollars, the current transaction price Has dropped to $ 577. Within weeks, the virtual currency has dropped nearly 60%. Chinese regulators are also stepping up the speculation over the virtual currency.
China's supervision to strengthen again
According to Coinmarketcap, the market value of global cryptocurrencies has dropped to 278.53 billion U.S. dollars in the morning of February 6. Compared with the platform's data of 835.69 billion U.S. dollars on January 7 this year, it has generated 557.1 billion U.S. dollars Loss.
In fact, the insider's view is that the recent sell-off has been linked to the global stepping up of regulation of cryptocurrencies, which JP Morgan Chase, Bank of America and Citibank also issued a resolution Friday that will ban customers from buying on credit cards Encrypt currency.
China's central bank also stepped up its supervision of the virtual currency and trading platform.At February 4, according to relevant media reports, with some domestic people involved in the overseas ICO as an example, the previous seven ministries jointly issued the "on the prevention of financing of tokens issuance risk Of the risks and problems identified in the "Notice" still exist, including illegal distribution, false items, fraud and even pyramid schemes, and participate in offshore platform trading, investors may find it harder to recover the losses.Next, the central bank or will take Including a series of regulatory measures including the banning of commercial activities, the banning and disposal of domestic and foreign virtual currency exchange websites, etc. to prevent financial risks and maintain financial stability, and to close one as long as one is found. In the meantime, the future will depend on the development of the situation , Does not rule out the possibility of introducing further regulatory measures.
On February 6, the Beijing Internet Finance Association released on its official website "Tips on the risks associated with the transaction of 'virtual currency', ICO, 'virtual digital assets' and 'cash loans'", saying that under the increasingly complete domestic regulatory environment in China, Part of the 'virtual currency' platform, the ICO platform, the 'virtual digital asset' trading platform and the 'cash lending' platform have shifted their business activities outside of China. Some social platforms and non-bank payment agencies provide services for these businesses in an open-ended manner Recognized individuals continue to engage in high-risk businesses, even evolving into illegal cross-border fund-raising, cross-border money laundering, cross-border financial fraud, cross-border pyramid selling, illegal transactions, privacy violations, market manipulation, illegal issuance of securities and illegal sales Tender bills and other criminal acts.
In response, Beijing Mutual Association prompts the member institutions to abide by the self-regulatory commitment of the industry, strictly abide by state laws and regulations, take the initiative to resist illegal business activities, does not support or not participate in or organize any involving the 'virtual currency', ICO, 'virtual number Assets' transactions, 'cash loans' and related business activities.
At the same time, Beijing Mutual Association also prompts the vast number of financial consumers need to recognize the 'virtual currency', ICO, 'virtual digital assets' transactions, 'cash loans' and the nature of the relevant business, enhance awareness of financial risk prevention, according to the law to avoid financial risks , Protect their legitimate rights and interests, fully understand relevant national laws, regulations and policies, and rationally assess investment risks, and shall not engage in cross-border illegal fund-raising, cross-border money laundering, cross-border financial fraud, cross-border pyramid selling, illegal trade, infringement of personal privacy and manipulation of the market , Illegal issuance of securities and the illegal sale of token coupons.
Bargain-hunting is too risky
For leeks, the bargain hunting of virtual currency may be the most dangerous thing.
'In the upward trend of the market, even temporarily quilt cover, one day can be loosening, but this may be different.Maybe the current encryption currency in the market will be the mainstream wave of blockchain abandoned in their own small On February 9, Jiang Ming (not his real name), a Shanghai-based company engaged in the development of blockchain technology, accepted an interview with a reporter from China Times.
In fact, the virtual currencies such as bitcoin did have experienced a super big bull market in the past two years. What is the future direction of the global virtual currency? As the global regulators have become more and more regulated, the virtual currency market Will not disappear or only one of the few popular, leaving the industry more attention.