As a 24/7 non-stop trading market, it is dominated by market sentiment. Any negative or positive news will be directly reflected in the market. There is no time difference, no buffer, and no price limit!
Therefore, when the "Seven Swords from the Tianshan Mountains" came out from the East, panic spread across the entire Bitcoin market instantly, and a large number of retail investors and investors from China responded to the call, almost without hesitation.
After all, the vast majority of investors from China have more or less enjoyed the dividends brought by favorable policies. Even their first pot of gold, or the process of primitive accumulation, all benefited from the policy tilt.
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Therefore, it is natural to develop a strategic thinking inertia. If you follow the policy, you will have food, but if you go against the policy, you will often get nothing. In the end, you may end up with both people and money.
As the old saying goes, "Those who follow nature will prosper, and those who go against nature will perish."
In this bull market, Chinese investors already play an indispensable role in the market, and the three major exchanges from China have benefited a lot from it.
However, along with this paper ban came a notice ordering the three major exchanges to shut down their domestic operations within ten days. The so-called notice generally meant that there was no room for negotiation.
Even the heads of the three major exchanges have been asked not to leave the country without authorization in the short term. Such an autumn wind sweeping away fallen leaves is enough to show the determination of the authorities to rectify virtual currencies.
At the same time, decisive and quick actions like this are often planned for a long time. As for when the plan started, or why the decision was made...
This kind of thing is naturally unknown, and the market does not care about it. Once such a major negative news spreads, the market's reaction is always immediate.
Bitcoin, which had once reached US$4,591, fell immediately. A deep hole was created on the market, and it dived directly towards the mark of US$4,000, plummeting -12.97% in an instant!
There is no trading suspension, and there is no talk of a lower limit. When a large number of Chinese investors make the same decision to sell in the face of the policy, the intensity of this kind of selling is no less than that of bookmakers in ordinary market openings.
Even worse!
In addition, in this market that allows short selling, many short sellers even heard the news and aggressively shorted Bitcoin. If the market is in danger, short sellers have never shied away from wanting to be the one that breaks the camel's back.
straw.
In fact, they will unceremoniously intensify their efforts and will only give up if they squeeze every last drop of blood out of the market.
However, even though such a major bad news once severely reduced the market value of Bitcoin, the battle between the long and short parties has always been the main theme that dominates the market.
Although the policy changes from China have led to the departure of the main force of Chinese investors, naturally there cannot be only one main force in such a huge market.
In particular, there will never be a shortage of speculators who go against the current in the market. They are well versed in reverse thinking and regard the famous sayings of the stock god as their guide.
"When others are greedy, I am fearful; when others are fearful, I am greedy; when others clear their positions, I increase their positions; when others suffer small losses, I profit with my blood!"
Adhering to such a simple and crude principle, if someone sells, someone will buy. For a time, he turned into many parties and bought and bought like crazy, which somewhat stopped the market's overwhelming emotions.
When the long and short sides were in a confrontation, the panic in the market also dissipated a little, so that some belated investors no longer rushed to sell their chips, but chose to sit back and wait and see.
What if there is a turning point?
At the same time, Lu Sifang, who was far away on the other side of the ocean, had just gone to bed, but when the fluctuating price of Bitcoin hit the warning line, not only the software would give feedback, but even the notifications from the hardware would not go too far.
The duty personnel arranged by Lu Sifang to monitor the market naturally reported the market situation to Lu Sifang immediately.
Upon hearing this news, Lu Sifang was not even a little sleepy, and his whole body suddenly became excited. This silently, his hometown actually took a dose of powerful medicine.
The big one is coming!
As one of the vested interests, the first thought in Lu Sifang's mind was whether to profit immediately and leave the market. After all, his profits so far have been considerable enough, and there is no need to take the risk of a sharp retracement...
After all, the floating profits on the books are just fictitious. Only the moment when the money is truly settled is the real profit. It is impossible for Lu Sifang not to know this truth.
However, although his own interests were involved, which somewhat affected Lu Sifang's judgment, he was still a person who had seen strong winds and waves, so he would not panic and choose a path.
After calming down a little, the first person Lu Sifang thought of was naturally his boss. In addition to reporting to the boss immediately, he could also make subsequent strategic adjustments based on the boss's reaction.
If the boss wants to give up, then Lu Sifang will not hesitate and follow up without any thought. If not... then it proves that there may be room for improvement!
After all, in such a market with no limit on the rise and fall, if the impact of China's policies is really that big, then the drop should not be just twelve points, even if it directly drops by half of the market value, it is not incomprehensible...
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So, when it was still late at night on the other side of the ocean, Lu Sifang made a phone call to Zhou Dongsheng.
Zhou Dongsheng was not surprised when he received the call. After all, even Lu Sifang on the other side of the ocean had received the news. It was impossible for Zhou Dongsheng in China not to know about it.
Unexpectedly, eating melon felt so good for a while, but as he ate it, the fire actually burned his body. Zhou Dongsheng couldn't help but sigh in his heart.
The occurrence of such an unexpected incident completely touched Zhou Dongsheng's knowledge blind spot!
Although in his memory, it is true that Bitcoin transactions will be prohibited in the country in the future, Zhou Dongsheng does not know when exactly this was implemented.
I didn’t even expect that this “future” would come so quickly and arrive directly?
From the perspective of "anything can be done without prohibition by law", this paper ban undoubtedly declares that Bitcoin has no place in the country and completely blocks its circulation in the country.
From a conventional perspective, this is almost the same as unilaterally declaring his death sentence.
To be honest, as one of the investors with heavy positions in Bitcoin, Zhou Dongsheng felt a little panicked when he saw the news.
It is not an exaggeration to describe it as "Tongkong Earthquake". In an instant, there was even a suffocating sense of sight.
However, after coming back to his senses, Zhou Dongsheng calmed down a little. Just like a drowning man grabbing a life-saving straw, Zhou Dongsheng also grasped the life-saving straw in his heart.
Zhou Dongshengmohu remembers...the value of Bitcoin is far more than that, and may even reach tens of thousands of dollars per coin in the future. Although I can't remember the details, I still remember this sky-high price.
After all, converted into RMB, the price of one Bitcoin was once enough to exchange for a Mercedes Benz or a BMW. This also caused a lot of heated discussions at the time and became a hot topic of discussion among the people.
It was also at this stage that Zhou Dongsheng initially established his understanding of this virtual currency, and was even more amazed by its value, thus laying a deep memory.
Just like the national liquor Moutai, even if you don't remember its specific value, you can still vaguely remember its crazy rise in the future, and even the liquor fund has become the most eye-catching chicken in the market.
This anchor-like memory point is exactly the part of the future that Zhou Dongsheng knows.
So when he realized this anchor point, Zhou Dongsheng also calmed down again. If he couldn't even overcome the current hurdle, how could Bitcoin aspire to be the highest in the future?
Even if this is the end of the Bitcoin bull market, it doesn't matter to Zhou Dongsheng. Maybe he can take this opportunity to continue to collect low-priced chips and bet on the future.
The big deal is just to take a long-term view to catch the big fish. Judging from the thinking of value investment, you will not let the value of the entire market collapse because of your own variable, right?
Then this butterfly effect is too exaggerated. Zhou Dongsheng himself is not confident that he can have such great abilities.
So after calming down and analyzing the reasons behind the policy, from his own perspective, Zhou Dongsheng felt that this might just be a move by the superiors to further tighten outflow channels?
After knocking off Yida, the virtual currency market that has been booming recently has naturally hit the target. After all, this so-called decentralized virtual currency can perfectly circumvent the regulatory system and easily complete asset transfers.
of.
And both in terms of cost and efficiency, it is undoubtedly more efficient than traditional channels. In the past, when the value was not high and the market was not so active, we could wait and see for the time being.
Seeing that the water in this channel is getting bigger and bigger, it is natural that we can no longer sit idly by and it is not difficult to understand that we should take action to close it.
Therefore, from Zhou Dongsheng's perspective, he subconsciously associated Yida with Bitcoin, and finally came to the conclusion that it was to tighten external investment channels and be cautious about risks...
After thinking about this level, at least for Zhou Dongsheng, it was logically possible for him to do it himself.
However, if Zhou Dongsheng in his previous life had some understanding of where this incident occurred, he might not have come to this conclusion.
After all, the paper ban appeared a full three months earlier than before! The acceleration of this timeline is obviously due to the influence of certain variables.
If Zhou Dongsheng could know this, then he might have a better understanding of his abilities.
Although he is not as capable as he imagined, his ability now cannot be underestimated.
It may not have much impact on the main roads, but on other relatively narrow branch roads, it has enough weight to influence the market direction.
After Zhou Dongsheng sorted out his thoughts, he had enough confidence to reply to Lu Sifang.
"Don't panic, the problem is not big. Maybe the market will fluctuate and fall due to the crazy counterattack of the short side, but it will not affect the subsequent market trend. Although we can take this opportunity to do a wave of short-term arbitrage..."
"But now our goal is too big. If we follow it blindly, it may further collapse the market sentiment. There is no need to lose the low-priced chips in your hand just for the small profit at hand. If you throw it out, you may not be able to get it back."
"However, we can take advantage of the situation and gain some chips. I believe the market will adjust soon. I still think the market outlook is promising."
Zhou Dongsheng spoke eloquently, explaining his views concisely and concisely, and his firm tone dispelled Lu Sifang's doubts and made him feel at ease.
The boss doesn't panic even if he has a heavy position, but he is panicking!
"I understand the chairman. With the chairman's words, I already know what to do!" Lu Sifang said with high spirits.
"Well, pay close attention to the follow-up changes and let me know if there is any news." Although he felt calm in his heart, Zhou Dongsheng still added uneasily and hung up the phone.
Sure enough, after the market experienced an initial panic and sell-off, it gradually stabilized its plummeting decline and did not appear to be in an irreversible situation as imagined.
When the market calmed down a bit, some investors began to re-examine the Bitcoin project, and suddenly had a more intuitive understanding of its self-proclaimed selling point of "decentralization."
If even the ban by the world's second largest economy cannot effectively reduce the value of Bitcoin, doesn't it effectively prove that this "decentralization" is established from the side?
Vice versa, if it cannot withstand the sanctions of the world's second largest economy, then the so-called "decentralization" concept is nothing more than a castle in the air, and its value will ultimately be directly affected by the "center".
This is undoubtedly the foundation of the value of Bitcoin. As the saying goes, real gold is not afraid of fire. At this moment, whether investors who have entered the market choose to wait and see, it has also attracted the attention of some interested people outside the market.
You will know whether it is a mule or a horse, and whether it can resist this wave of sanctions head-on is undoubtedly a direct reflection of Bitcoin's ability to resist risks.
If Bitcoin proves its ability to withstand risks and that even sanctions from the world's second largest economy cannot affect its liquidity in the market, it will undoubtedly greatly enhance the confidence of outside investors.
At the same time, its own value will be further recognized. As a result, Bitcoin’s bull market will not only not end, but will once again accelerate the market after completing the adjustment!
There are also opportunities hidden in crises, maybe this is the truth.
Therefore, when the entire market was in turmoil due to this paper ban, the market value of Bitcoin, under the tug of war between the long and short parties, not only did not collapse, but even slightly restored the market sentiment, and the market value slowly recovered.
In the end, the single-day decline only closed at -7.74%. Not only did it defy market expectations, it did not fall below the $4,000 mark, but it even held on to the $4,100 mark.
Of course, this is obviously just the beginning. It is not difficult to predict that in the next period of time, the long and short sides of the market will engage in rounds of fierce confrontations.
