Rapid plunge! Bitcoin plunged a quarter in 24 hours, and Coinbase has stopped all transactions

Bitcoin cannot keep rising all the way, and the bubble phenomenon is recognized by society! However, the sudden plunge of Bitcoin has shocked everyone with its magnitude and speed. In early December, the price of Bitcoin almost doubled, from $10,240 to $19,994. I remember the news I saw a few days ago, which said, "Bitcoin soars, Wall Street considers entering the market." It feels like everything has changed overnight, and it has fallen off a cliff.

According to CoinMarketCap, in the past 24 hours alone, the price of Bitcoin has fallen by a quarter, and is currently trading at around $12,874. As of 3:23 p.m. on December 22, 2017, the price of Bitcoin on some exchanges has even fallen to $11,000. Ethereum, the second largest cryptocurrency by market value, once fell below $550.

Almost all digital currencies are plummeting. In the past 24 hours, Ethereum has plummeted by 27.4%, Bitcoin Cash has plummeted by 36.3%, Ripple has fallen by 6.2%, and Litecoin has plummeted by 29%.

Coinbase is the largest Bitcoin trading market in the United States. As the digital currency depreciated sharply, at 11:11 a.m. Eastern Time (this time was chosen because of Singles' Day), Coinbase announced that the company temporarily banned all transactions.

I have read quite a few so-called commentary articles, and there is no reasonable explanation. It seems more like they are trying to cheer up the digital currency market. They are all saying things like "reasonable adjustments", "there is no extremely negative news about Bitcoin recently", and other meaningless words like "this kind of crash has happened before and may happen again in the future".

This reminds me of a piece of news three days ago, when Thomas Bossert, assistant to the White House Department of Homeland Security, held a press conference and officially announced that North Korea was behind the WannaCry virus, and that WannaCry only accepts Bitcoin. I wondered if this was a form of economic warfare.

Another thought, is it that American hot money is leaving the market? I don’t know, but will the Japanese be in a worse situation? Japan is actively promoting Bitcoin, and it is said that many people are playing with this thing... Is this a currency disaster? Suddenly I thought of a question that is related to everyone. Hahaha, will the price of graphics cards drop?

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