Opinion: 3.12 plunge may be related to PlusToken scammers "covering" and selling BTC with new crown epidemic

Multicoin Capital managing partner Kyle Samani analyzed in the latest issue of the Unchained podcast many variables that caused the price of Bitcoin to plummet between March 12 and 13. He emphasized that at this point, there are two possible theories that are believed to be the reason behind the price crash. Samani said: "First, some people are eliminating risk because they are a bit worried about the impact of the new crown epidemic on the global macro economy. Second, last summer's PlusToken scammers sold bitcoin. They are likely to want to To a certain extent, the "cover" operation of the new crown epidemic was used. "Samani also detailed the nature of the crypto market and its fundamental differences from other financial markets. He emphasized: "The most unique thing about crypto is that people trade in many trading venues, they all trade the same assets, such as Bitcoin, Ethereum, Ripple, etc. In general, in traditional markets, you or You can think of stocks more or less as a single exchange trading stocks on the foreign exchange market. "