On May 19th, it is a historical day. Influenced by the policy, most of the main strain currency pushed down. The Bitcoin declined to 30%. It went down to the lowest of $29,000. The ETH, LTC, DOT and any other main strain currency appeared to be slashed for more than 50%. The entire network's 24-hour contract liquidated $6.28 billion. It was the largest declining date since the March 12th on the year of 2020. It became the 3rd on the currency circle collapsing news.
It should be paid attention that the total market value of the cryptocurrency is $2.5 trillion. The cryptocurrency total market value declined to $1.6 trillion. It pushed down nearly for 36%. The plumping sense had a series bad influence. According to the data, the DeFi locked position got the $131.9 billion contrast to the May. It had declined to $50 billion for 37%, which caused the DeFi liquidation, exacerbate congestion on the Ethereum chain. The GAS increased and there is 20,000 transactions are waiting for confirmation.
The Chief Analyst Lucian on BitOffer said the sense of the cryptocurrency pushing down was out of the expectation of the cryptocurrency market, which there has been almost no decent retracement in the process of continued market rise since Bitcoin’s halving last year. The market has risen too wildly, and it has accumulated very rich profitable chips. The short-term capital panic flight has a lot to do with the profit-taking out. The layout of any funds entering the market is for profit and exit.
However, the big drop caused by this kind of policy negative is completely irrational. After the irrational drop, the market is usually repaired within a short period of time. Considering the March 12th on the year of 2020, the Bitcoin touched the lowest bottom $3800. Only for 2 month, the Bitcoin stepped back the $9,000 again.
The Bitcoin on May 19th pushed down again. Most of the main strain currency collectively cut in half. For most of the long-term investors, most of the value is to make more value investment depression. After the market panic sells, it will be a periodical low point. The volume of 519 is very large, which means that at the same time as the sharp drop, a lot of funds have entered the market to buy the bottom. The current bitcoin price has returned to above 40,000 US dollars.
What’s more, Chief Analyst Lucian said the currency like BTC, ETH touched the lowest bottom. In the future it will never be the sense. However, the current market fluctuate very volatile. Many investors have no ideas to make proper investment.
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