In the past 24 hours, the prices of virtual currencies, led by Bitcoin, have fluctuated up and down. Against the backdrop of rapidly rising and falling markets, more than 93,000 people have had their positions liquidated in the virtual currency market, with the amount of liquidation exceeding US$300 million (approximately RMB 2.1 billion).
As of press time on October 17, Bitcoin was priced at $67,630.6, up 0.80%.
On the evening of October 16, Bitcoin rose 2.9% to $68,390, its highest level since July 29.
Data shows that in the past 24 hours, a total of 93,778 people in the virtual currency market had their positions liquidated, with a total liquidation amount of more than US$300 million (about RMB 2.1 billion), of which US$183 million was for long positions and US$121 million was for short positions.
The last time Bitcoin hit $70,000 was in July. It reached an all-time high of nearly $74,000 in March and has risen by more than 60% since the beginning of the year.
According to market news, Italy plans to increase the capital gains tax on Bitcoin from 26% to 42%. As Italy announced this news, the European Union is preparing to fully implement cryptocurrency regulations by the end of this year.
According to Securities Times, citing US media reports, Musk's Tesla has transferred all of its Bitcoin reserves worth more than $765 million to several unknown wallets. It is not clear whether Tesla has sold all of its Bitcoin holdings. Relevant information may be disclosed when the company announces its third-quarter financial results after the close of trading on October 23.
The crypto wallet marked as Tesla made 26 transactions, transferring almost all of the company's 11,500 bitcoins. Before this sudden transfer, Tesla's Bitcoin wallet had been idle since June 17, 2022.
Tesla first bought Bitcoin in February 2021, purchasing $1.5 billion worth of the cryptocurrency. The following month, it sold 4,320 Bitcoins, and then 29,160 in 2022.
Musk briefly accepted Bitcoin as a payment method for company cars in March 2021, but changed his decision a few weeks later. In addition to Tesla, another company under Musk, spacecraft manufacturing company SpaceX, still holds 8,285 Bitcoins, worth more than $553 million, making it the seventh largest private company holding Bitcoin.
Since the Bitcoin halving in April, Bitcoin miners have seen a significant drop in revenue. It is understood that the daily output of Bitcoin varied before the halving, but all revolved around the block reward system, with an average of 6.25 Bitcoins produced every 10 minutes. Based on the previous block rewards, this is equivalent to about 900 Bitcoins produced per day. However, after the halving event, this number will become about 450 per day.
The current price of Bitcoin is almost the same as the price before the halving (60,000 to 65,000 US dollars per coin), but the output of miners has indeed been halved. According to calculations, if miners sell Bitcoin at $60,000 per coin, the entire mining industry will lose nearly $10 billion in revenue in the year after the halving.
According to the Economic Daily, since the advent of Bitcoin, its price has been fluctuating, with sharp rises and falls almost the norm, and the multiple risks facing the market cannot be ignored.
"As an emerging digital asset, Bitcoin price fluctuations are affected by many factors, including market sentiment, macroeconomic environment, technological innovation, regulatory policies, etc." said Co-Chairman of the China Communications Industry Association Blockchain Special Committee, Hong Kong Blockchain Yu Jianing, honorary chairman of the Chain Association, analyzed that the regulatory attitudes and policies of various countries towards cryptocurrency are constantly evolving, and any new regulatory measures may have a significant impact on the price of Bitcoin. At the same time, changes in the global macroeconomic environment, such as changes in interest rates, inflation rates and international trade relations, may also affect the value of Bitcoin and other cryptocurrencies. In addition, current cryptocurrency trading platforms and wallets are still facing risks such as hacking attacks and security breaches. #美国大选如何影响加密产业？ #特斯拉转移比特币 #BTC要挑战7W大关了吗？
