according tocoinmarketcapaccording to
The data shows that the price of Bitcoin has fallen for three consecutive days since May 15 at $8,820, and has fallen to $8,018, approaching the low of $8,000.
The price of Bitcoin reached a high of $19,737 in December last year, with an increase of 2,000% at one point, and then showed a fluctuating downward trend.
It bottomed at $6,767 on April 10 this year, and then showed a recovery trend. On April 24, the price broke through the $9,000 mark again, and rose to a high of $9,948 on May 6.
In addition, the recent rumors that Nobuaki Kobayashi, the bankruptcy trustee of Mt. Gox, is preparing to sell bitcoins have also had a certain impact on the decline in currency prices. In March of this year, Kobayashi sold bitcoin through over-the-counter transactions, which caused panic in the market. Immediately thereafter, there was a peak of bitcoin selling orders, and the price of bitcoin fell from a high of over US$10,000 to below US$6,000.
secondary title
Energy Consumption Increases, Bitcoin Profitability QuestionedEconomist Alex de Vries believes that the huge profits of the cryptocurrency mining industry will lead to increasingly expensive energy.
Cryptocurrency mining could consume 0.5% of global energy by the end of this year.De Vries also said that Bitcoin network mining currently consumes at least 2.55 gigawatts of electricity, and according to economic models, this figure may increase to7.67 gigawatts
. Not only is it a huge energy consumption, but the cooling of the mining system also consumes a lot of energy. If you want to reduce the cooling cost, you can only choose to open the mine in cold regions such as Sweden.Cost is expected to be around $150,000。
secondary title
Bitcoin Bull Run?
At Consensus, Fundstrat Global Advisors analyst Tom Lee predicted that BTC and cryptocurrencies will perform similarly to previous years, rebounding.When Bitcoin broke through $9,000 in April this year, Rodrigo Marques, CEO of the investment platform Atlas Quantum, said,
Bitcoin is about to usher in a bull run, an era in which everyone benefits from cryptocurrencies.The movement of bitcoin prices is also largely influenced by regulation.
Garrick Hileman, one of the founders of Mosaic.io, a cryptocurrency data and research company, believes that sooner or later, the US Securities and Exchange Commission will issue clear guidance on cryptocurrencies as securities, and the biggest regulatory hurdle for Bitcoin this year is yet to come.
If digital currency is included in the scope of securities by the SEC (United States Securities and Exchange Commission), and ICO transactions are illegal, then the cryptocurrency market may sell off.
However, with the development of cryptocurrencies, regulatory attitudes are also changing. The US Department of Financial Services (DFS) issued a BitLicense license to Genesis Global Digital Currency Exchange. Previously, DFS had successively granted Circle, XRP II, Coinbase and bitFlyer exchanges. this license.In the long run, Bitcoin price volatility will decrease.
(I am Odaily reporter Zhang Yi. To explore the real blockchain, please add WeChat ro20110723 for breaking news and communication. Please note your name, unit, position and reason.)
