PANews reported on August 18 that the Economic Daily published an article titled "Changes in the Global Economic Environment and the Superposition of Geopolitical Risks - Be Cautious about Virtual Currency Investment". Recently, the "currency circle" has encountered another wave of earthquakes. Bitcoin has fallen continuously, from more than $70,000 at the end of July to around $58,000 on August 16. In particular, on August 5, Bitcoin once fell below $50,000, hitting a new low in the past year, with a daily decline of 15%, and more than 270,000 people were liquidated, with a total liquidation amount of more than $1 billion.

my country has always maintained strict supervision over virtual currencies. Previously, the People's Bank of China and other departments have repeatedly issued notices on preventing and dealing with the risks of virtual currency trading speculation, clarifying that virtual currencies do not have the same legal status as legal currencies, and that virtual currency-related business activities are illegal financial activities. Since the beginning of this year, regulatory authorities in many places have successively warned of risks. Please be vigilant and stay away from illegal financial activities such as "virtual currency" trading speculation and illegal fundraising, be careful to prevent personal property losses, and if you participate in them, you should withdraw as soon as possible.

Yu Jianing, co-chairman of the Blockchain Committee of the China Communications Industry Association, said that although some major economies currently adopt a relatively friendly attitude towards virtual currency assets, policies may change in the future. If stricter regulatory measures emerge, it will have a negative impact on Bitcoin's liquidity and market acceptance, and may even cause prices to fall sharply.