Coindesk data shows that the value of bitcoin was around $32,000 on Jan. 24, already down 20 percent from its $40,000 high in early January. in one day on Jan. 22, bitcoin fell below the $30,000 mark to a low of $28,845, down 17.83 percent from its intra-day high. And on January 20, bitcoin was still holding at a high of around $37,000.
Also according to bitcoinhome.com data, a total of 40,000 people blew their positions in the last 24 hours, and 1.690 billion in funds went up in smoke.
In response to the recent plunge, some analysts say that the bitcoin market has entered the panic phase of the asset bubble cycle, which has both internal causes of speculation leading to excessive price bubbles and external policy and regulatory change factors.
Also according to the Huaxia Times, a founder of mining capital in the crypto industry, Dan Dan (a pseudonym), recently broke the news to them that “COCOS coins were forcibly exchanged 1,000:1, and this handful lost 60 million.”
COCOS was originally expected to issue 100 billion pieces, but now it has been scaled down to 1/1000, only 100 million pieces. Theoretically, the price should be 1000 times higher than before, but Dan Dan said that as of now, the price has not risen 1000 times, and he is still 98% away from getting his capital back.
Cocos-BCX is a game digital economy project launched in 2018, mainly to provide blockchain technology application solutions in the game field and game development tools, etc., calling itself the next-generation game digital economy platform.
According to incomplete statistics, there are more than 8,000 types of “cottage coins” in the crypto industry, and many cottage coins are carrying out network marketing crimes in the name of “innovation” to make money by internal and external operations, while the current “pseudo-innovation” projects, which are full of speculation, gambling and fraud, are also full of speculation, gambling and fraud. The “pseudo-innovation” projects are also difficult for investors to distinguish.
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