Brothers and sisters;
Do you still remember what day it is today?
May 19, 2021 ~~ May 19, 2025,
Time flies, and in the blink of an eye, it's been 4 years.
Let's take a look back at May 18, 2021, when the China Payment and Clearing Association, the China Banking Association, and the Internet Finance Association jointly voiced their opposition to the speculation of virtual currencies, clearly stating that virtual currencies are not real currencies and do not possess attributes such as legal tender. The Inner Mongolia Development and Reform Commission also announced a comprehensive ban on Bitcoin mining.
- This led to a sharp decline in the cryptocurrency market, with Bitcoin's drop reaching 30% at one point, Ethereum halving, and Dogecoin and Shiba Inu's declines reaching 56% and 64% respectively at one point. On that day, Bitcoin fell below the $30,000 mark, dipping to $29,000. According to market data platform Coin, as of 7:30 am on May 20, the total liquidation in the past 24 hours reached $6.91 billion, affecting about 580,000 people.
Looking at the current market environment, it's definitely different from 4 years ago, so there's no need to panic.
