Oil price avalanche! Bitcoin plunges $ 800, or will the black swan continue?

Beijing, March 9th, due to the unsuccessful negotiations between the new crown epidemic and the oil country, the global economy was hit hard again. In overnight trading on Sunday, US stock index futures fell sharply. At the same time, the Middle East stock market plummeted and international oil prices Then there was an avalanche. Brent crude oil futures fell more than 30% at one time, and the lowest price in the day reached 31.38 US dollars / barrel.

Bitcoin, which some people consider to be "digital gold," has not been spared. According to data provided by qkl123.com, in the past 24 hours, Bitcoin has fallen from a high of $ 8,800 to a minimum of $ 8,000, a drop of nearly 9%, and Most of the top 10 cryptocurrency assets by market capitalization have fallen by more than 10%.

According to data provided by Coin Coin, the entire 24-hour contract market had a total of 507 million U.S. dollars sold out, with a total of 36,536 positions, of which the largest single warehousing order occurred at Bitmex with a value of 8.48 million U.S. dollars. Among the top currencies, BTC had a US $ 310 million short position, ETH had a US $ 607.9 million position, BCH had a US $ 36.51 million position, EOS had a US $ 35.32 million position, and BSV had a US $ 14.63 million position.


The market crash clearly caused some participants to panic. In fact, some people believe that the cryptocurrency market is on its way to entering a bear market again.

For example, gold lover Peter Schiff commented:

"It's not surprising that this crash, I warned many times last week that Bitcoin's failure to rebound in the most ideal state means that a crash is coming! Of course, this is not a crash, it means we You will see $ 3,000 in Bitcoin. "

In the face of the plunge, Bitcoin Milk King Pomp commented:

"Someone told bitcoin critics that oil has fallen more than bitcoin in one day. The market is too volatile!"

Nonetheless, there are still many optimistic voices on the market, and they are based on an analytical model called stock-to-flow. The inventor PlanB commented that:

"The #bitcoin S2F chart has been adjusted for today's" crash "and nothing really happened, Bitcoin is still on the S2F track."

Later, he also added that tomorrow's Bitcoin difficulty adjustment (regardless of computing power, the time between blocks will stay within 10 minutes) will be a huge 7%! It believed that there were no signs of weakness in the two months before the halving.


It is reported that PlanB had previously tweeted that Bitcoin was difficult to fall below the $ 8,200 level.

Hodlonaut, another well-known Bitcoin bull, commented:

"We are entering a period of extreme turbulence and fear in the global market. Bitcoin will be here every 10 minutes, and when the dust settles, Bitcoin will prove itself in a whole new way."


As of press time, the price of bitcoin rebounded slightly to $ 8086, and usdt's over-the-counter quote was 7.15 yuan, and the current premium rate has climbed to 3.13%.

What's your opinion on this wave of prices?

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