Bitcoin fell below the $34,000 mark: Musk's net worth has evaporated by nearly 80 billion

Recently, due to Musk's repeated jumps and the country's statement on cracking down on Bitcoin mining and trading, Bitcoin has now been reduced to a state of "everyone shouting and beating", and the price has plummeted all the way. As of press time, the price of Bitcoin It has fallen by 12% to 33,583.97 US dollars, or about 210,000 yuan per piece, and the market fluctuates greatly.

JPMorgan Chase Analyst: More Institutions Are Buying Bitcoin: Jinse Finance reported that JP Morgan analysts said in the "Flow and Liquidity" report that institutional investment in Bitcoin was faster this quarter than in the third quarter , and probably played a bigger role than Commodity Trading Advisors (CTAs). According to the authors of the report, institutional investors are viewing Bitcoin as a long-term investment. [2020/11/24 21:51:33]

On the whole, the cryptocurrency market plummeted this week, and the market value once evaporated by nearly one trillion U.S. dollars. Since Musk's recent negative remarks were regarded as one of the triggers for selling, he also suffered a lot of public opinion pressure.

Voice | Jimmy Song: Getting into Bitcoin is the hardest part: Bitcoin core developer Jimmy Song tweeted that getting into Bitcoin is the hardest part, there are so many ways to get lost that lead you astray. Once you've been down the Bitcoin path for a few years, the rest is much easier. [2019/7/26]

Although Musk himself indicated on social platforms that he would not sell Bitcoin, many investors who suffered huge losses did not buy it.

Dynamic | The number of Bitcoin Lightning Network nodes has reached 6288 and the channel has risen to 26939: According to 1ml data, the current number of Bitcoin Lightning Network nodes is 6288, an increase of 14.60% compared to a month ago; the channel transmission volume is 26939, which is equivalent to An increase of 30.02% from a month ago; the network capacity reached 690.07 BTC, an increase of 30% from a month ago. [2019/2/16]

And because of the plunge of Bitcoin, Tesla's share price, which holds a large amount of Bitcoin, has also been dragged down.

On the other hand, recently exposed regulatory documents show that the prototype of the movie "The Big Short", Michael Burry, who once accurately predicted the subprime mortgage crisis and profited from it, is aggressively bearish on Tesla, which further puts pressure on Tesla's stock price.

According to data, Musk's personal net worth has decreased by about US$12.3 billion (about 79.1 billion yuan) this year, making him the richest man in the Bloomberg Billionaires Index.

At the same time, Musk's ranking on the billionaire list this week also fell to third, losing the throne of the world's second richest man.

It should be noted that the China Internet Finance Association, the China Banking Association, and the China Payment and Clearing Association have also jointly issued a notice on preventing the risk of speculation in virtual currency transactions.

It is foreseeable that the cryptocurrency market will continue to experience large fluctuations in the future, and investors must be cautious.

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