The plummeting virtual currency has been on the hot search recently. The price of Bitcoin fell below the $18,000 mark, and the world’s richest man Elon Musk and Chinese richest man Changpeng Zhao were all affected.
On June 19, the price of Bitcoin dropped to a minimum of $17,601, which is also the lowest price of Bitcoin since December 2020. In the past seven days, Bitcoin has fallen by 33%, which is a distance from last November when Bitcoin hit $69,000/ At present, Bitcoin has lost about 70% of its value since its peak.
Ether, the second-largest cryptocurrency by market capitalization, also fell below $1,000 on Saturday, down nearly 11 percent to $975.24, hitting its lowest level since January 2021.
According to Coinglass data, as of 8:00 on June 19, a total of 150,000 people in the digital currency field had liquidated their positions in the past 24 hours, with a total liquidation of $567 million.
Some analysts said that the reason for the huge shock in the currency circle is simply that some investors were unable to withdraw funds from some cryptocurrency exchanges, exacerbating their concerns about the liquidity of virtual currencies.
As a well-known holder of Bitcoin, Tesla has suffered serious losses in this wave of Bitcoin market. Relevant data shows that Tesla currently holds 43,200 Bitcoins, worth $968 million, and has lost about 5.3% of its investment in Bitcoin. One hundred million U.S. dollars. When Tesla reports its second-quarter earnings in July, it should report losses related to its bitcoin investments.
In addition to Tesla, the richest man in China, Changpeng Zhao, has also shrunk his fortune due to his holdings of a large number of digital assets. This time Bitcoin plummeted, and his wealth may have evaporated by nearly 89%.
