Speaking of this wave of plunge, it truly is a good show. Just before, there was hope that Bitcoin could 'break out of the galaxy' after Trump's election, and then reality slapped us right back. Like ants on a hot stove, Bitcoin's price fluctuates wildly, making investors restless. 'Bitcoin is like a spoiled child, its emotions change in an instant.'

However, this time, we really can't blame Bitcoin for throwing a tantrum. Federal Reserve Chairman Powell has indeed dropped a bombshell, clearly stating that Bitcoin replacing the dollar is 'a fool's dream.' Once this was said, it was like throwing ice into boiling water; the market instantly cooled down. The chief economist at JPMorgan added a sharp comment: 'The value of Bitcoin is like a castle in the air, it looks beautiful but cannot stand firm.'