On Monday, June 13, Eastern Time, the world's cryptocurrency market ushered in a huge decline. Since January 2021, about a year and a half, the total market value of global cryptocurrencies has fallen below $1 trillion.
• Among them, Bitcoin fell below US$23,000 for the first time since December 2020, down 13.49% during the day. In the past 24 hours, more than 217,000 people had lost their positions in Bitcoin transactions, with the total amount of liquidation reaching US$955 million (approximately RMB 6.449 billion). In addition, the price of Ethereum plummeted by more than 18.3%, directly falling back to US$1,200, without exception.
•Vijay Ayyar, vice president of corporate development and international at cryptocurrency trading platform Luno, said bearish sentiment may continue until this week, and if you look back on the previous bear market, Bitcoin will usually fall more than 80%, and altcoins will usually fall more than 90%. If the situation continues, the price of Bitcoin will be much lower in the next month or two.
•The same fate as many other small and medium-sized investors is Musk. Musk once publicly stated that he owns some Bitcoin, Dogecoin and Ethereum, and will hold Bitcoin for a long time, hoping to see Bitcoin succeed. Now it may be trapped. Previously, some media analysts said that Tesla bought $1.5 billion in Bitcoin at the beginning of 2021, with a price of about $35,000 per coin. But now Bitcoin has fallen to $24,000 per coin.
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