On the following May 28, the trend of Bitcoin continued to maintain violent price fluctuations. It first fell from the opening price of US$4.7 to US$2.6, with an intraday decline of -44.68%, and then began to rise crazily.
Its price rose from the lowest price of US$2.6 during the day to the highest price of US$10.7, achieving the largest increase of +127.66% during the day. It rose from the lowest price during the day at US$2.6. Today's theoretical unilateral long position can reach +311.53%.
The amplitude throughout the day also once again refreshed the 134.82% that peaked at $52 on May 20, reaching an astonishing 172.34% amplitude.
It finally closed at the price of 9.6 US dollars, rising +104.26% throughout the day. After seven consecutive days of plummeting, it finally ushered in a retaliatory rise, and the increase doubled in one day.
Players in the currency circle call it exciting!
In the next three days, the trend of Bitcoin continued to rebound. It rose by +33.33% on May 29, rose by +14.98% on May 30, and rose again by +9.40% on the last day of this month. Bitcoin The price of the currency also rose back to the price of 16.1 US dollars.
However, the trading volume in the past few days has gradually slowed down, and has basically remained at a full-day trading volume of about 10 million US dollars, because Fang Hong's trading team no longer frantically refreshed the trading volume data.
Entering June, on Wednesday, June 1, Bitcoin, which had risen for four consecutive days, closed down -7.71% today.
There is news in foreign currency circles that "Mentougou" will soon launch Bitcoin's first short-selling tool, and participants will be able to short-sell Bitcoin.
The so-called "Mentougou" is the Bitcoin trading platform Mt Gox. This platform is a small cryptocurrency exchange. Because the pronunciation is similar, it is nicknamed "Mentougou" by players in the domestic currency circle. Everyone gets used to it and makes an agreement. It’s become a custom.
…
On Thursday, June 2, Bitcoin rushed to the price of $16.9, and when it reached the +14.19% level, it suddenly began to plunge. The reason for the plunge was that the first short-selling tool for Bitcoin was launched by the Mt Gox trading platform.
The cryptocurrency is officially short-able.
Players in the currency circle are also very "sensible". As soon as the news spread that day, there was a wave of people expressing their respect. On the same day, the price went from the highest price of 16.9 yuan to 4.7 US dollars again.
Compared with the highest price of the day, it has fallen by -72.19%, and compared with the opening price, it has dropped by -68.24%.
Exciting as always.
After Bitcoin fell to the price of 4.7 US dollars during the session, it started a short-squeezing rebound by +104.25%, rushed to the price of 9.6 US dollars, and finally closed at this price, closing down -35.13% throughout the day. Amplitude 82.18%.
After entering June, Fang Hong paid more attention to the trend of Bitcoin. The most important thing was to care about the 3.15 million Bitcoin chips he had collected with so much effort. As expected, the Mt Gox trading platform was about to suffer a serious blow and encountered a hacker. The attack also laid the fuse for future bankruptcy.
None of the chips in Fang Hong's hand are on the Come out and take the dollars first.
The current manipulation of Bitcoin by Fang Hong has activated the speculative atmosphere in the market. The trading atmosphere has become hundreds of times more active than last year. The average daily transaction in the past month has been maintained at the level of tens of millions of dollars.
After the first short-selling tool came out and tasted the benefits of short-selling on the first day, short-selling Bitcoin players were quickly hammered.
Because in the next three days from June 3 to 5, Bitcoin once again went out of three consecutive positives, rising by +10.34%, +18.94% and +49.24% respectively, and the price of Bitcoin soared to $18.9. The height has exceeded the rebound high point of the previous few days.
It then adjusted for a day, falling -11.64% and closing at $16.7.
But then, Bitcoin adjusted for a day and rose again. After a sharp increase of +10.78% on June 7, it began a crazy short squeeze in the next two days, and the short sellers' heads were smashed.
Because two new encrypted digital currency trading platforms have been launched, the scale of New Leek has been expanded.
The trend of Bitcoin surged by +52.08% and +39.33% respectively on June 8 and June 9. The price closed at US$39.2, and the total market value exceeded US$800 million. The highest price once reached a high. At the price of $41.2, this bullish momentum gives people the impression that it is about to break through the previous high of $52.
This was something that no one expected. In just 14 days, Bitcoin soared from US$1.9 to US$41.2, with a cumulative increase of +2068.42%, which has increased more than 20 times.
With such a surge, more and more people are optimistic that it will break through 52 US dollars and reach a record high.
However, in the next two days, Bitcoin adjusted downward, falling by -2.52% and -7.71% respectively.
On Saturday, June 11, the trend of Bitcoin crashed again, from the opening price of 35 US dollars to around 15 US dollars. It was cut in half by the daily price, and finally fell to 14.6 US dollars. The price plummeted -58.28%.
…
Finally, what was supposed to come came.
On June 20, the Mt Gox trading desk suffered a hacker attack. The hackers took advantage of the platform's security loopholes to transfer offline stored Bitcoins from the "cold wallet". A shocking market situation unfolded. One Bitcoin actually only It sells for one cent, while the previous normal market price was around $15.
On that day, both domestic and foreign currency circle forums exploded.
[Wori, my Bitcoin is gone? ]
[What's going on with the horse riding? Why were my Bitcoins sold for 1 cent? ]
[Is there a BUG in Mentougou? ]
[Why can’t we trade? ]
[Breaking news from abroad: Mentougou has been hacked. Founder Mark Kaples tweeted to urge users to change their passwords quickly. The trading platform has been closed! ]
[? ? ? ? ]
[Wori——! ]
[Latest news, Mark announced that today’s transaction is an abnormal period transaction, and all batch transactions are invalid. ]
[I woke up in the middle of the night and looked at my account of 20,000 US dollars, which went back to zero! ]
[Many people have been fooled, and many people in the foreign currency circle have posted articles saying that Bitcoin has been stolen from their wallets! ]
…
The next day, the news that the Mt Gox trading platform was hacked was reported by many financial media in Europe and the United States. This encrypted digital currency trading platform, established in 2010, currently has more than 1 million registered users around the world, and its daily trading volume can now reach To the tune of millions of dollars.
This time it is really popular outside the currency circle.
Mark Kaples, the founder of Mt Gox, immediately issued a statement stating that the funds are safe, and his management team has repeatedly ensured the safety of the platform’s funds.
At present, x is still a giant in the Bitcoin market. Many people still believe that these problems are only temporary, and the founder of Mt Gox is also a highly respected figure in the currency circle.
But this time Mt Gox and encrypted digital currencies have become popular in this way. It is not a good thing. The security of digital currencies has also been questioned by investors.
Some foreign media reporters asked the Mt Gox management team to disclose specific data such as how many Bitcoins were lost.
However, it was rejected by the Mt Gox management team on the grounds of troubleshooting system vulnerabilities and statistics.
Now, many people were still panicking.
This shows that the number of Bitcoins stolen this time is large.
In fact, the Mt Gox management team knew that this was a mistake. The platform lost a total of about 850,000 bitcoins, of which about 750,000 were from users and 100,000 were from the company.
Calculated based on the current price of US$15 per piece, the total value is US$12.75 million.
For the x platform, although it is not bankrupt, it is still an unbearable huge loss.
The most important thing is a potential risk here. Once Bitcoin rises and the Mt Gox platform does not recover the lost Bitcoins, what if the price rises to US$1,500 per coin?
That’s US$1.275 billion. Even if the Mt Gox platform is sold, it can’t afford to lose it.
…
(End of chapter)
