How many dollars did bitcoin crash

Yes , January 22 , the price of bitcoin continued to decline in the previous two days. According to the price of coindesk, the bitcoin price once fell to $28845 , 17.83% lower than the highest price of $35102 in 24 hours

as of 10:10, the price of bitcoin was about US $29918, with a decrease of 13.94% in 24 hours. The turnover of bitcoin in 24 hours was US $70.71 billion, with a market value of US $556.66 billion. This is the third consecutive day that the price of bitcoin has fallen. On January 20, the price of bitcoin fell from more than $37000 to less than $35000, and then fell below $32000 on January 21

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the dispute over the price of bitcoin continues:

in the past seven days, bitcoin has experienced a roller coaster like correction, falling for three consecutive days and piercing the 10 day moving average downward. Compared with the historical high of nearly 42000 US dollars in the first ten days of this month, it has dropped to more than 10000 US dollars in just a few days

at present, the dispute over the price of bitcoin continues: those who believe that bitcoin will continue to rise believe that institutions' understanding of the digital currency is graally maturing and use it as a hedge against inflation; Opponents argue that this is just another bubble after the collapse of the bitcoin in 2017. p>

John Normand and Federico manicaldi, strategists of JPMorgan Chase, wrote in a report on Thursday that bitcoin has set the fastest price appreciation record in the history of major assets, and the current price is far higher than its mining cost, which means that the decline of bitcoin's return rate will be inevitable

the price of bitcoin once plummeted to US $48000. There are many reasons for the rise and fall of bitcoin, one of which is the recent capital investment and speculation with the rapid development of Internet economy and network technology, bitcoin, a new open source currency, is born, which is different from traditional virtual currency. Bitcoin has initially formed a relatively complete instrial chain and market, and has become a popular financial investment proct. At the same time, it provides new ideas for the reform of e-commerce payment methods. But the price of bitcoin fluctuates a lot< since its birth, its price has experienced several sharp rises and falls. The main reasons for bitcoin's ups and downs are as follows bitcoin can be easily used in transnational money laundering activities, which has aroused the attention of financial regulators. In theory, if you want to transfer funds from China to the United States, you only need to convert RMB into bitcoin in the exchanges supporting Chinese accounts, and then sell bitcoin in the exchanges supporting U.S. bank accounts and withdraw it< transnational capital transfer is usually subject to strict supervision, and the cost of illegal underground transfer is very high. Bitcoin, as an intermediary, can transfer funds quickly at low cost

On April 18, it was reported that the price of bitcoin had soared for a time, once exceeding US $64000. Today, bitcoin suddenly plummeted, once falling by more than 15%, the price fell below US $52000 / piece

for the sudden collapse of bitcoin, some analysts in the instry believe that it may be affected by the latest news that the US Treasury Department has accused several financial institutions of using cryptocurrency to launder money

affected by the sharp fall of bitcoin, other digital currencies have declined to varying degrees. Ethereum plummeted 20%, coin an plummeted 17%, reborn plummeted 26%, and even Musk's favorite dog coin plummeted 19%

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experts said that the slump is a normal phenomenon:

"in fact, the slump of bitcoin is just a normal phenomenon in the market." First of all, bitcoin itself is a kind of high-risk emerging asset, and its daily price fluctuates a lot, and it is often prone to sudden rise and fall, Li William, chief researcher of Ouyi okex Research Institute, told reporters. Secondly, from an empirical point of view, the withdrawal in the bitcoin bull market is about 33% - 66% of the basic trend direction, lasting for a week or several weeks

according to him, even though bitcoin has entered a bull market since January 2021, with a cumulative increase of nearly 2 times, it often falls sharply, with the biggest daily drop of more than $5000 for at least 7 days, and the biggest daily drop of more than $10000 for two consecutive days on February 22 and February 23

William Lee further said, "from the fundamental point of view, this round of bitcoin slump also has regulatory impact. On Friday, Turkey's central bank banned the use of cryptocurrency and cryptoassets for payments, citing possible "irreparable" damage and trading risks. Shortly after the news, bitcoin fell about 4%. For investors who have entered the market early and hold a large number of bitcoin chips, they have made a lot of profits at this time. In the case of unclear supervision in the future, it may be the best time to choose to sell bitcoin and leave the market, which triggered a subsequent slump. "

some people say that this is the result of other people's manipulation, but in my opinion, few people can directly control the bitcoin market