BlackRock made a big statement, and the Bitcoin plunge shocked the market!
Just last Friday, $BTC suddenly seemed to be on a roller coaster, and the price plummeted to $96,000, and then rebounded slightly. At this time, BlackRock, a big boss on Wall Street, actually jumped out and said that they could not guarantee that the total supply of Bitcoin would remain at 21 million. Once this was said, it was like throwing a big dumpling into the frying pan, and the market immediately exploded.
You know, Bitcoin has always boasted about its fixed supply, which is its killer as a store of value. BlackRock's words are like telling everyone that the scarcity of Bitcoin may be just a joke.
What's even more surprising is that the once-glorious crypto exchange Mt.Gox actually sold $102.5 million of Bitcoin after the Federal Reserve sent a hawkish signal. This is simply rubbing salt into the wound, making the already shaky Bitcoin market even worse.
Mt.Gox's operation directly caused market sentiment to fall to the bottom. Traders and investors were panicked as they watched billions of dollars being liquidated.
Technically, Bitcoin is also under great pressure and is trying to hold an important support line. If it fails, the price may continue to fall.
Are you stuck? When is the best time to buy at the bottom? Again, if you are confused and helpless and don't know what to do, click on the avatar and follow me. It's better to follow than to guess!
