“This night will be written into the history of the currency circle” $BTC $ETH $BNB

This night will be written into the history of the currency circle.

On the eve of this romantic festival on May 20, 2021, many people in the currency circle stayed up all night. At around 1 o'clock in the morning, a QQ group with 1,826 people in the currency circle was still "busy with people", with more than 1,000 people online.

The decline began on the morning of May 19. As of 11:07 that day, Bitcoin had fallen by 10.73%, just over 200 US dollars away from US$40,000 per coin. At the same time, the price of Ethereum also fell by 8.75 %, the price is close to US$3,000 per coin, and just a week ago, its price once exceeded US$4,000 per coin.

By noon on the 19th, the price of Bitcoin plummeted below 40,000 US dollars per coin. After 8:30 pm, it showed a "free fall" decline. At 9 or 10 pm, it once bottomed out at 31,100 US dollars per coin. Compared with the highest point this year, it has been "cut in half". Other virtual currencies were not immune. The price of Ethereum plummeted 21.02% to US$2,657 per coin, and the price of Binance Coin plummeted 28% to US$367 per coin. The previously popular Dogecoin was not immune, falling 23.79%.

Cryptocurrency prices “available”, and trading platforms cannot hold on. At 9 p.m. on May 19, the cryptocurrency trading platform Binance suspended Ethereum and ERC20 withdrawals and resumed them about an hour and a half later. At the same time, Coinbase, one of the world's largest cryptocurrency trading platforms, was disrupted and cryptocurrency trading Kraken also reported that the trading platform had a connection failure. At 10:45 that night, Huobi’s official website announced that it would suspend the withdrawal of ERC20 tokens. The liquidation volume of some platforms hit a record high. CryptoQuant data shows that the exchange’s long liquidation reached 10,525 BTC one hour late on May 19, a record high.

On May 20, Bitcoin turned from falling to rising. As of 13:45, it rose slightly by 1.4%, and the price was close to US$40,000 per coin. QKL123 network data shows that funds have currently shown a small inflow. However, the price decline of other virtual currencies has not changed, with Ethereum, Binance Coin, and Dogecoin all falling by more than 10%.

Many people in the industry lamented, “This night will be written into the history of the cryptocurrency industry.” Will this acknowledged Bitcoin bull market end?