The flash crash in the price of Bitcoin was entirely caused by the emotional decline of the market itself. A large amount of selling pressure was suddenly released in a concentrated manner, and the market did not have major funds to take over, so it collapsed.
This is also inseparable from the recent contributions of mining bosses. In the past few months, since Bitcoin has gone through three main rising waves and super market conditions, the craze for cross-mining has also been rising day by day like the price trend of Bitcoin.
Moreover, more than a month ago, Bitcoin was hovering at the top, always maintaining a price above 800 US dollars. At the same time, driven by the mining boom, Bitcoin was constantly being produced, although the output was higher than the previous one.
The round has been halved, but the stimulus from the bullish price has triggered more people to join the mining craze.
This causes the actual number of Bitcoins in the market to increase, and the Bitcoins mined by mine bosses are like the gradual lifting of banned stocks.
Previously, the price of Bitcoin remained high, and mine bosses were reluctant to sell.
It can be seen that the actual situation is completely opposite to what many people think. It is not that when prices are high, it causes people to sell. Instead, they choose to be reluctant to sell.
This is similar to the fact that the oil price rises sharply but the output does not increase. When the oil price rises sharply, you choose not to sell because you can make more money if the oil price continues to rise sharply. As a result, the higher the price, the tighter the oil supply, and the tighter the price, the higher the price.
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When oil prices plummeted, everyone was in a hurry to take action because they had to maintain the operation of the mines.
The recent situation of Bitcoin is somewhat similar. Because the total amount is constant and the price remains high, mine bosses are not in a hurry to sell. Anyway, the cost is low enough. When the price rises, they can earn more.
Before the news broke that Stellan Capital was using Bitcoin to harvest Merrill Lynch, many people were still optimistic that Bitcoin would reach new highs.
As a result, we never expected such a big bad news. The market was afraid that Merrill Lynch would cut its losses and the market would definitely not be able to withstand the selling pressure of millions of Bitcoins. Therefore, other small retail players rushed to run away, and some people turned back.
Go short.
A large amount of selling pressure gathered in the entire market. Without Fang Hong taking the initiative to ask the trading team to suppress the market, the market collapsed on its own. At this time, the mine boss could not sit still and quickly sold to cash out.
The collapse of dozens of percentage points in one day was really unbearable, and the mine bosses were eager to settle down.
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At the same time, people from Merrill Lynch are continuing to negotiate with Stars Capital. Today, even Charlie Alexander flew directly from North America and went to the Stars Capital headquarters to meet with Hua Yu in person to discuss the matter.
Merrill Lynch is still very tough, insisting that Stellar Capital manipulates the cryptocurrency market, pushing illusory things like Bitcoin to sky-high prices, and letting Merrill Lynch take over.
Charlie Alexander still demanded withdrawal of capital and had to make up for Merrill Lynch's $3 billion loss. The specific measure was for Stellar Capital itself to repurchase the more than four million Bitcoins at the price at which Merrill Lynch took over.
There is no doubt that it is impossible for Star Capital to agree.
Hua Yu's attitude was also very clear. During the interview, he was very calm and kind. It was no problem to ask for divestment, as long as it was done according to the agreement. However, the terms of the agreement did not stipulate that Qunxing Capital would cover investment losses.
Then, as expected, the conversation fell apart, and the first meeting ended on bad terms. This matter was a bit of a stretch.
Merrill Lynch is really angry, and the pain is really painful. After all, billions of dollars are really not a small sum.
But it is true that Merrill Lynch is bluffing, because those Angsa people did not sincerely ask Star Capital to do the asset management plan, but wanted to make directional explosions.
Therefore, threatening to withdraw capital is one thing but it will not actually withdraw capital. After learning that Star Capital was not afraid of threats and acted as if it was impossible to lose money, the people at Merrill Lynch felt relieved and started to scream even more fiercely about the withdrawal of capital and compensation.
Because I knew Qunxing was unwilling to pay out, of course I screamed even more fiercely. It was really hard to predict before. In fact, I was worried that Qunxing Capital would be really frightened if I screamed too fiercely, and then I would obediently pay the money.
The loss is coming back late, but the real plan before may be ruined, which is not good.
It would be easier to handle if you know that Qun Xing is unwilling to pay compensation, but you just have to be fierce and act very excited and angry.
Otherwise, it may arouse the suspicion of Qunxing Capital. After all, it would be very abnormal for the company to be cheerful and unconcerned about being cut.
It's only reasonable to act angry.
They are all top acting players, each with their own plans.
…
In the following days, Charlie Alexander and Hua Yu met with Hua Yu two more times for negotiation, but still failed to reach an agreement. Then he also returned to North America, and the matter continued to be negotiated.
From the perspective of outsiders who are watching the show, Stella Capital and Merrill Lynch are having a falling out, and the cooperative relationship is probably about to break up.
Anyway, people watching the excitement don’t think it’s a big deal.
The price trend of Bitcoin also rebounded for two days after two consecutive days of flash crashes, rising by +11.77% and +8.79% respectively. However, after rebounding for two days, it plummeted again by -21.02%, and continued to fall on the next trading day.
-7.89%, hit a new intraday low of $316.59, and finally closed at $333.73, with its nominal market value shrinking to $7.008 billion.
The price of Bitcoin has plummeted, but the craze for mining has not faded, and many new players have even entered the field to mine.
Although it collapsed and more than 15 billion US dollars have been evaporated from the highest price in history, the nominal market value of Bitcoin still has a market value of 7 billion US dollars, which is not a small amount.
One Bitcoin mined is still worth more than 300 US dollars. Not only can it fully cover the electricity bill and computing resources, but it also still has a very considerable profit.
It’s just that people are not as profitable as before.
Naturally, keep digging.
Mining bosses know how to settle accounts. Many bosses have bought machines a long time ago and will definitely continue to mine. Moreover, even if the price of Bitcoin drops to 100 US dollars each, they will still make money. If they no longer make money by then, the mining card mining machine will still be able to make money.
You can throw it into the second-hand market and get some money back.
At the current price of Bitcoin, you can make money by mining it.
However, as the price of Bitcoin shows a downward trend, mine bosses no longer dare to hoard the coins and sell them as soon as they are mined. This actually further causes the price to fall.
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At the same time, in the A-share market, on Tuesday, September 13th, Big A ushered in its first trading day after the Mid-Autumn Festival.
The Mid-Autumn Festival staged a "Mid-Autumn Tribulation" market, and Big A experienced another gap and fell. It once fell to 2453 points, a drop of -1.75%, and the two or three percentage points that had finally rebounded before the holiday were lost.
, and hit a new low.
The market finally closed down -1.06%, closing at 2471.30 points.
Since September, the market conditions of the two major cities are hard to describe.
But when it comes to Big A's most beautiful kid in recent times, there is no doubt that it is Tianzhou Online who has taken advantage of Yixing Media.
Since this ticket left the first board on August 29, it has recorded its 11th consecutive daily limit today and the 10th consecutive one-word daily limit.
The share price of Tianzhou Online also rose to 26.94 yuan, and the total market value rose to 5.037 billion yuan, officially breaking through the 5 billion mark, and also surpassing the 2009 sub-high of 25.25 yuan in one fell swoop.
