History: the main tokens evaporate hundreds of billions of dollars of wealth

The currency circle is zero, the scale is hundreds of billions, or the US dollar.

This speculative feast, which has been vigorously staged on a global scale, is shocking when it comes to the end of its life. The scale and influence of its disillusionment of wealth can already be among the most famous cases of bubble burst in human history.

The round of cryptocurrency market adjustments that began in 2018 caused the total market value of Bitcoin to evaporate by $222 billion, and its price dropped from $19,343 on December 16, 2017 to $6,270 on August 15, 2018. . In addition to Bitcoin, the main cryptocurrencies such as Ethereum and Litecoin have also suffered heavy losses. The total market value of the global cryptocurrency market has evaporated by about $600 billion this year.

Along with the decline in the price of the main cryptocurrency, there is also a large amount of air currency. The "Daily Economic News" reporter conducted statistics on the cryptographic currency market website non-small August 15th data. In the 2041 cryptocurrency, there are 1150 prices below one hair, and 447 ones below one point.

"The bubble is too big, the market is self-adjusting, there are too many bad projects, and many of them are mass production." A cryptocurrency industry insider spoke to reporters.

Main cryptocurrency plummeted

According to data from the cryptocurrency website coindesk, the price of bitcoin has fallen from $19,343 on December 16, 2017 to $6,270 on August 15, 2018, a drop of 68%. Ethereum fell from a high of $1316 in January this year to $296 on August 16, a drop of 78%. Litecoin is also in a decline, falling from the highest of $340 in December last year to $57 on August 16, a drop of 83%.

This year's market is like the situation from the end of 2013 to 2014. Bitcoin entered a plunge after a short period of skyrocketing. According to coindesk data, in November 2013, the price of bitcoin soared from around $200 to $1,125 in just a few days, and then began to fall. By the end of 2014, the price of bitcoin was around $300. In 2014 and 2015, the price of Bitcoin has been around $300. From 2016 to the first half of 2017, it started to rise slowly. It will start a new round of inflation in the second half of 2017, and it will go straight to 20,000 US dollars.

Despite this round of declines and a decline that began in late 2013, the decline was around 70%, but the total market value of Bitcoin is not the same. At present, the market value of Bitcoin is about 108.9 billion US dollars. This round of decline since the end of 2017 has caused the market value of Bitcoin to evaporate by 222 billion US dollars.

In fact, it is not just the above-mentioned several main cryptocurrencies, the entire cryptocurrency market is almost full-line decline. According to the data of the shared financial number chain, among the top 100 cryptocurrencies in the total market capitalization, only 15 have risen in the last 7 days, and the rest have all fallen, and the decline is more than 30%. According to data from non-small platforms, the total market value of global cryptocurrencies has fallen from a maximum of 800 billion US dollars to about 200 billion US dollars this year.

Xiao Lei, a cryptocurrency analyst, pointed out to the reporter of "Daily Economic News" that the current total market value of Bitcoin is more than 100 billion US dollars compared with before 2013. The attracting investment groups are different. The fluctuation of the US dollar and the global economy Both growth and inflation expectations have an impact on cryptocurrency prices. In addition, he also said that the launch of Bitcoin futures last year also gave the bearers ample opportunity to express themselves.

"The cryptocurrency has a certain bubble component. From the application level, there is no large-scale application. The pricing of cryptocurrency is still very vague. The biggest application of cryptocurrency is speculation. If the price does not continue to rise for a while. Everyone's confidence will be more sloppy. From the beginning of the year, everyone can't find a breakthrough." Xiao Lei analyzed, "In addition, the decline of cryptocurrency is related to the economic environment, the Fed raises interest rates, and the global economic growth shrinks. Many countries have begun to pay attention to the protection of their sovereign credit. There are good concepts before cryptocurrency, such as decentralization, which can fight inflation, but as the dollar rises, as countries begin to save the credit system, the big concept will not work. It is."

Over a thousand cryptocurrency prices tend to zero

Along with the decline in the price of the main cryptocurrency, there is also a large amount of cryptocurrency. The "Daily Economic News" reporter conducted statistics on the cryptographic currency market website non-small August 15th data. In the 2041 cryptocurrency, there are 1150 prices below one hair, and 447 ones below one point.

In terms of volume, there are currently 2,401 cryptocurrencies. The total volume of the top ten cryptocurrencies in the 24-hour turnover accounted for 85.34% of the total volume, and the rest of all cryptocurrencies accounted for less than 15%.

"The bubble is too big, the market is spontaneously adjusted, there are too many bad projects, and many of them are mass production." An industry insider spoke to reporters. A large number of air coins are flooding the cryptocurrency market, and Baidu Encyclopedia has even had a new entry for “returning to zero coins” – they can only make money with a blueprint or a white paper, some even need only one With PPT, you can circle hundreds of millions of funds, commonly known as PPT. Many of these coins with no real value are now on the blacklist of the currency, and the price falls to the bottom of the foot.

The zero-dollars of fraudulent money are too numerous to enumerate. In April 2018, the US Securities and Exchange Commission accused two co-founders of Centra (CTR) of using cryptocurrencies for fraud, raising $32 million in funds, and subsequently removing CTRs from multiple exchanges. The Superstar (MXCC), which claims to be able to solve the difficulties in the film industry with blockchain technology, completed the entire process from initiation to running and returning to zero within six weeks from January to February 2018.

"Most of the securities attributes will be zeroed." Xiao Lei said, "The underlying technology of the cryptocurrency market is blockchain, but using this technology does not mean that this thing is valuable. Now many coins issued by the public chain are Based on blockchain technology, but everyone's demand for it is first of all the price demand. To find a good person, it is not that we can see that the future chain can generate cash flow and can be used by some people."

"In 2014 and 2015, many cryptocurrencies were returned to zero. Except for the decentralization of Bitcoin and Litecoin, there is no return to zero." Xiao Lei further stated that "the cryptocurrency of securities attributes may survive 1%. 99% will die."