Observing that the US stock market fell sharply, gold rose, BTC fell below 10,000 US dollars, saying good hedge?

After failing to break the pressure of $12,300 for five consecutive days, BTC is still on the road to callback. In the early hours of the morning, BTC fell below the support level of $10,500 and then smashed at $10,200. However, at 7 o'clock in the morning, the BTC's decline continued, all the way down, the short-term break below the important psychological barrier of 10,000 US dollars, the lowest reported at $ 9,992.58. After the plunge, the BTC rebounded slightly, temporarily reporting $10,132, with a 24-hour drop of 6.52%.


The double fall of the BTC is the blood wash of the mainstream currency. ETH fell below $200 and returned to the price of May this year, temporarily reporting 188.78 US dollars, down 9.73%. The XRP, which has been weak for a while, has plunged 10 points. The price has directly reached the price of last September, setting a new low for the year and temporarily reporting $0.267. EOS also flowed into the river, once approaching the low point of this year, temporarily reported 3.7 US dollars, a daily decline of 8.80%.


In the futures contract market, the bulls are even more terrible. According to the coin coin data, in the first round of the morning crash, the OKEx futures contract reached a price of 22.99 million USDT in half an hour, BTC broke out of 8.71 million USDT, and ETH exploded 5.49 million USDT. In the second round of diving in the morning, OKEx's half-hour burst amount exceeded 46 million USDT, BTC was 17.53 million USDT, and ETH was 15.91 million USDT.

After the plunge, investors are also thinking about why BTC fell so badly? Some people think that the "first money in the currency circle" PlusToken sells BTC is the main reason. PlusToken can be said to be China's largest cryptocurrency Ponzi scheme. It has defrauded more than 70,000 BTCs and 800,000 ETHs. After running, it has been diversifying its assets for money laundering. It is reported that on August 13, the PlusToken wallet transferred 22,922 BTCs. Large-scale, cost-free selling seems to be in line with PlusToken's rush to cash out, but it is still not the "real murderer" of this plunge.

Of course, some investors believe that this is only a normal callback for BTC. Looking back at the price trend of BTC, after hitting this year's high of $13,968 on June 26, BTC continued to fall and bottomed out at $9,725. Similarly, after breaking through $12,000 on July 10, the BTC pulled back again, and it once fell below the $9000 mark. The BTC has not broken the pressure of $12,300 for several consecutive times, and the callback is also a good move. Perhaps, psychologically, everyone's expectations for BTC's new high this year are too high, and it is a bit disappointing and annoying.

While the encryption market has plummeted, US stocks are also a mourning. The Dow Jones Industrial Average fell 800 points on August 14th, down 3.05%. The Nasdaq Composite Index also fell by 242.42 points, a decrease of 3.02%. US stocks rebounded after the US government delayed the tariff on some Chinese goods yesterday, but the good times did not last long. The US bond yields were upside down and triggered risk aversion. Investors’ concerns about the economic recession still caused US stocks to plummet.


Strong risk aversion directly reflects the price of gold. London gold (spot) prices rose 0.34%, temporarily reported 1521.32 US dollars / ounce. Shanghai gold main (futures) rose 1.36%, temporarily reported 349.60 yuan / gram. In fact, US stocks rose yesterday and gold immediately fell.

In contrast, Bitcoin has maintained a high correlation with gold in the near future, but this time it has not been linked to gold because of increased risk aversion. US stocks rose yesterday and BTC fell. Today, US stocks plummeted and BTC fell. Despite the increasing call for bitcoin as digital gold, this week, it is clear that there is no negative correlation between Bitcoin and US stocks, and the nature of safe-haven assets remains to be proven.

Interestingly, when the BTC first began to fall, the more people fell, the more they smashed the bottom. Only after experiencing falling and washing, most investors panic to dare to go to the bottom, which was the real bottom. "I am greedy when others are afraid, others are greedy and fearful." Buffett's famous words really deserve investors to understand.