BTC's continuous decline has left many people scratching their heads‼Can BTC still hit the important position of 78,000 in the future‼ ️I analyzed all the historical data and explained to you the reason for the deep decline of BTC this time🩸It is mainly due to the impact of the MT.GOX event. At that time, there were no exchanges such as Binance. Mentougou was the world's largest Bitcoin trading place. At that time, Mentougou once accounted for 80% of the entire Bitcoin trading volume, and it can be said to be the largest exchange in the Bitcoin trading market. The incident came in 2014, when the price of Bitcoin was US$580. Mentougou suddenly closed its official website and claimed that the Bitcoin on the website was stolen. It also claimed that its official website was hacked and all Bitcoins stored in the exchange were stolen. At that time, the total amount stolen reached 850,000. The total number of stolen Bitcoins accounted for 7% of the total amount of Bitcoin. After the news was announced, because hackers stole a large number of Bitcoins, it caused a lot of panic in the entire market, and Mentougou was the largest exchange for Bitcoin trading at that time. Its closure also had a significant impact on the price of Bitcoin. In addition, investors were worried that Bitcoin would face a huge sell-off after being stolen, which led to a tragedy. At that time, the price of Bitcoin plummeted by more than 50% in an instant. It can be said that it was a blow to the thriving Bitcoin ecosystem. Therefore, the decline of Bitcoin this time has an inseparable impact on the Mentougou incident. According to the arbitration of the Japanese court, the owner of Mentougou will gradually return Bitcoin to the victims of previous Bitcoin theft this year. As the world's largest Bitcoin exchange at the time, the total amount of Bitcoin they held was very astonishing, because the price of BTC was only $580 per coin at the time. ⚠️It caused a large number of investors to panic about Mentougou's selling of BTC.MT.GOX sold off Bitcoin was generally mindless. According to its previous practice of selling off BTC , once it decided to sell off, it would not sell in a gradient, and generally it would be concentrated in a short period of time and mindless sell-off. So this caused this round of Bitcoin price to fall sharply.📉#ETFApproval #MegaDrops #BTC☀
