Song Shuangjie: Four Reasons for Demystifying Bitcoin's Flash Collapse

Today at 19:30, the second phase of the "Blockchain Finance Department Week" of Babbitt Industry Class was officially concluded. ". In response to the cause of the Bitcoin crash on March 12, Song Shuangjie pointed out that, first, due to the epidemic, the world may already be in an economic crisis, and a large amount of funds have returned to the United States from emerging markets. Second, the condition of BTC's "digital gold" is challenged. Third, liquidity has dried up and safe-haven assets have failed. Fourth, the ecological environment of the digital asset market is poor. In the past two years, there has been no breakthrough in the blockchain industry. The market lacks high-quality underlying assets and cannot attract outsiders' attention and entry into the market. Without living water, the market has fallen into a pattern of stock games. At the same time, because of the lack of regulation, the market is chaotic and is no different from a "casino". Some trading platforms frequently appear "dial-up lines", "downtime", "pins" and other behaviors, which exacerbate market fluctuations and cannot escape the suspicion of manipulating the market. Live link: