Data show: As the price of bitcoin has fallen over the past two months, the number of bitcoin transactions on the dark web has fallen

According to CoinDesk news, blockchain analysis company Chainalysis data shows that with the decline in the price of bitcoin, the consumption of bitcoin on the dark web market has decreased over the past two months. Historically, bitcoin consumption in the dark web market and bitcoin price should have a weak negative correlation. Chainalysis data show that this weak negative correlation has reversed in the past two months. Bitcoin reached a high of $ 10,500 in mid-February and fell to a low of $ 3,867 on March 13. As the price of Bitcoin dropped, the value of Bitcoin flowing into the black market fell from $ 4.1 million to $ 3.2 million. This reversal may have been caused by the dark web sellers panicking about the sudden drop in the price of bitcoin, slowing the rate of sell-off, and fearing that the cryptocurrency would become worthless in a catastrophic event. In addition, as investors are more inclined to hold cash during panic times, darknet buyers may have scaled back their purchases.