After a sharp rise on Saturday, Bitcoin entered an adjustment on Sunday, with a correction of -3.57% on the day, closing at a price of US$550.77, and its nominal market value was locked at US$11.566 billion.
In recent days, the cryptocurrency market has experienced an incredible boom, but during the same period, global stock markets have been languishing, and U.S. stocks plummeted last Thursday.
The main reason why the external market plummeted was that Standard & Poor's announced that it had lowered the credit rating of Magnesium's treasury bonds for the first time in history, from the previous highest credit rating of AAA to AA+, and maintained the rating outlook as "negative".
After the weekend, it’s Monday, August 8th.
The A-share market also opened as scheduled on the first trading day of the new week. Affected by negative external news, the Shanghai Composite Index broke through the 2,600-point mark through direct bidding, opening sharply at 2,599.29 points and opening -1.03% lower.
In the first half hour after the market opened, it opened low and moved high. This fake move to lure many people actually tricked many people into entering.
Seeing the market drop like this, stock investors are almost at the bottom, and there are quite a few people taking action to make money.
But after 10 o'clock, those who entered the market today to gain chips realized that something was wrong. The trend after 10 o'clock went all the way down, and there were no two decent rebounds. By about 10:23, the market fell back below the opening price. Then the decline began to accelerate.
In less than 20 minutes, the index's intraday decline expanded to 2 percentage points, and it was flat for about six or seven minutes. News spread that there was another rumor from the Big A International Edition.
The market was immediately frightened, and the market index immediately showed a waterfall.
The Shanghai Composite Index continuously fell below the two important points of 2,600 points and 2,500 points during the session, without even a decent resistance. It fell to the lowest level of 2,497.92 points during the session, a drop of nearly 5 percentage points.
…
At noon, Tian Jiayi returned to Jingxin Residence from the company.
After lunch, Fang Hong was talking about the company with his beautiful assistant. He looked at Tian Jiayi and said: "Bitcoin is going up today, and Merrill Lynch's funds will start taking over tomorrow."
After a pause, Fang Hong added: "In addition, some people were arranged to promote the concept of Bitcoin's 'decentralization' and constant total amount on the Internet, giving encrypted digital currency the definition of a safe haven asset for the first time, and the credit rating of U.S. debt was lowered. , now is the right time, so we must make good use of it.”
Aren’t there many people who don’t understand the logic of Bitcoin’s surge?
Okay, here comes the logic.
Bitcoin is decentralized and the total amount is constant!
It’s better than U.S. bonds and better than gold.
Smart people have long abandoned the traditional financial industry and embraced encrypted digital currencies...
Otherwise, why would Bitcoin skyrocket?
Those who were foresight have eaten a lot of meat, now it is not too late to realize later, otherwise it will be really useless.
It’s really no use if you don’t get in the car!
Tian Jiayi nodded and made a note of Fang Hong's instructions. After the two continued to talk for a few minutes, she also left Jingxin Residence to go to work at Qunxing Capital, and also went to carry out Fang Hong's instructions.
…
In the afternoon, the A-share market opened. The market that plunged in early trading narrowed its decline in the afternoon, and the market index shrank and fluctuated above 2,500 points.
As of the close, the Shanghai Stock Index fell 99.60 points to 2526.82 points, a decrease of -3.79%, with a turnover of 117.6 billion; the Shenzhen Component Index fell 389.13 points to 11312.63 points, a decrease of -3.33%, with a turnover of 97.2 billion. The trading volume of the two cities was higher than the previous one. The trading day was greatly enlarged.
From the market point of view, as the market fell to a new low in a year, market panic spread, and the two cities reappeared in a rare wave of limit-downs. There were tragic scenes of more than a hundred stocks falling by their limits.
Sectors are all green, market risk aversion has soared, and the profit-making effect has dropped sharply, which has caused most OTC funds to maintain a wait-and-see attitude, and the decline of the stock index has been fully demonstrated.
Today, less than 100 stocks are in the red in the A-share market and the two markets, and gold stocks once again attracted the attention of funds. Hengbang shares quickly hit the daily limit during the session, and large consumers such as liquor, video, and commercial chains maintained their strength.
However, there are still technical analysts who are looking for a bottom rebound, because from a technical point of view, the valuation fell sharply again today after falling below the 2650 support level last Friday. In the short term, due to serious oversold conditions, technical analysts believe that there is a possibility of a technical rebound. Sex is increasing.
…
In the evening, the U.S. stock market opened. Affected by the news that U.S. debt was downgraded by S&P, this triggered market panic. U.S. stocks plummeted before the market opened. The Dow Jones Industrial Average fell more than 600 points, and the three major North American stock indexes all fell more than -5.5. %, Obama shouted that day, emphasizing that America will always be at the 3A level, but it still cannot reverse the decline.
The plunge in North American stock markets also triggered a global stock market crash, and European stock markets also followed suit.
However, that night, against the backdrop of a collective plunge in global capital markets, the cryptocurrency market surged again.
At around 23:12, Bitcoin staged a straight-line short squeeze, breaking through $600 (+8.93%), $650 (+18.01%), $700 (+27.09%), and $750 (+36.17%). , 800 US dollars (+45.28%)…
It didn't stop until it reached its highest intraday price of $814.49 around 23:56, and the increase expanded to a water level of +47.88%.
In just over half an hour, Bitcoin went from falling to rising above US$530, with a price difference of more than US$284. The net market value increased by US$5.9 billion. Based on today’s historical high, Bitcoin’s nominal market value has already soared to a height of $17.1 billion.
Players from all walks of life in the currency circle are excited about it, and the global capital market is paying attention.
In the end, the price of Bitcoin was locked at US$801.51 in the early morning, skyrocketing by +45.53% that day, and Bitcoin officially ushered in the era of US$800.
…
As soon as the early morning passed, on Tuesday, August 9, the price of Bitcoin surged again, breaking through a record high of $850 at around 00:12. The intraday increase expanded to +6.05%, and the short squeeze continued. Soon At around 00:24 minutes, it broke through the integer mark of $900, and the intraday increase expanded to +12.28%.
At the same time, on the news, major peripheral Bitcoin community forums are boasting that Bitcoin is decentralized and has a constant total supply. It is the most valuable safe-haven asset in the new century, better than gold.
The price trend of Bitcoin can be said to be hitting record highs every moment.
At 00:39, Bitcoin surged to a record high of $955. The intraday increase expanded to +19.15%. Its nominal market value exceeded $20.055 billion, standing above $20 billion for the first time.
What outsiders don’t know is that the price of Bitcoin can skyrocket from US$530 more than an hour ago to the current price of US$955. That’s all because Fang Hong’s private trading team spent more than one billion US dollars in real money. Li Ding's results.
That's right, it's a stud-style operation, which means dry pulling, dead lifting, violent pulling, crazy pulling regardless of the cost.
All the bull players in the currency circle have followed suit and made a lot of money. These players who made money should thank God K. Although they don’t know that God K controls the whole game, they can still make money without God K being so crazy. If you don’t have enough money, everyone will eat meat now. As long as you do long, you will eat meat.
However, Fang Hong is not a good person.
The real benevolent person is Merrill Lynch next door. Merrill Lynch will pay for everyone and is already on the road to take over.
…
(End of chapter)
