Bitcoin's Big Drop! 📉

- Recently, Bitcoin fell from $70,000 at the end of July to $58,000 on August 16.

- Especially on August 5, Bitcoin fell below $50,000, reaching its lowest level in the last year. The intraday drop reached 15%, more than 27,000 people liquidated, and the total loss exceeded $1 billion.

China continues to impose strict controls on cryptocurrencies. The People's Bank of China stated that cryptocurrencies have no legal status and such activities are illegal. Citizens are advised to stay away from virtual currency trading and protect their personal assets.

Experts say that stricter regulations in the future could negatively affect Bitcoin's liquidity and market acceptance. 🚨