This morning, Bitcoin and other mainstream currencies fell sharply, and the market crash was unique. Many fans asked if there was any bad news. Since everyone asked, I looked for news at home and abroad to see if there were any unfavorable factors for the currency circle. Let's take a look together.

I said, this bastard has no ethics! I was careless! I didn't dodge. Such a big dealer is trying to trick a 69-year-old leek like me, is this okay? This is not good! Traditional cryptocurrency speculation emphasizes everyone getting rich! One big order smashed it down, and then three big orders continued to smash it down, very quickly! ! It seems that they came prepared! I was careless and didn't dodge.

It has to be said that this wave was really fierce. The method of smashing thousands of dollars is rare in the cryptocurrency circle, not to mention the contract. Even triple the amount is a panic. According to statistics, in just a few hours, the amount of liquidation reached 1 billion US dollars, and it was wiped out in an instant.

Every time there is a sharp drop, everyone will look for the reason. So what is the reason for this sharp drop? I looked up the domestic and foreign news and saw a more important one: 1) Musk's company SpaceX wrote down the value of its Bitcoin holdings by $373 million last year and in 2021 and sold the cryptocurrency. Tesla previously took a similar approach to its Bitcoin holdings. But it is not certain when Musk's company sold it.

In fact, this matter has been reported by the media for a long time, but it was reported again this time. I don’t know if it is because of the news of large-scale unknown wallet transfers to exchanges in recent days. Maybe Musk is shipping the multi-person task.

2) UK Financial Conduct Authority: Travel rules will be implemented on crypto asset transfers from September 1st.

3) For the first time, the U.S. Federal Deposit Insurance Corporation listed Bitcoin and cryptocurrencies as major risks to financial stability.

In addition, the market environment is not good, there is a lack of funds, and there is a tendency for interest rates to rise. In addition, institutional short sellers have shorted US stocks for $1.6 billion.

There is also good news just now. According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) is preparing to allow the first Ethereum futures-based trading platform exchange-traded fund (ETF) to be listed, causing Ethereum to pull back.

Today, an investor said: After working hard for half a year, today it's all gone. Although 200,000 yuan is not worth mentioning to many people, it is all my hard-earned money. 200,000 yuan is not much in the cryptocurrency world, but in the real world, it can buy a good car and pay a down payment in the county. It is because it is easy to make money in the cryptocurrency world that many people don't regard money as money! !

Many people will ask, what will happen next, will it be a bear market next? At present, the bear market has not arrived yet, anyway, the big bear spot is still held, and some bottoms were bought today. Everyone has different ideas, but I want to tell you that you should cash out when the market is constantly reaching new highs, not when it is constantly falling.

There is news, and everyone can tell which one has the greater impact at a glance.

Don’t spread rumors or believe in them; verify any news based on facts!

It is not a big deal if the spot price drops by 10%, but if you play a contract, a 10% drop may mean zero. So you can invest in the cryptocurrency market, but you cannot speculate at will. The last sentence is, if you don’t have the ability to bear risks, stay away from contracts and leverage!!!