Chapter 523 [Each has its own calculations]

The flash crash in the price of Bitcoin was entirely caused by the emotional crash of the market itself. A large amount of selling pressure was suddenly released concentratedly, and the market did not have the main force and large funds to undertake it, so it collapsed.

This is also inseparable from the recent credits of the mine owners. In the past few months, since Bitcoin has emerged from the three main rising waves, the craze for cross-digging has also been rising day by day just like the price trend of Bitcoin.

And more than a month ago, Bitcoin was hanging at the top and remained above the price of 800 US dollars. At the same time, driven by the mining boom, Bitcoin was constantly being produced, although the output was higher than the previous one. The number of rounds has been halved, but the stimulation of the bullish price has triggered more people to invest in the mining boom.

This has caused the actual number of bitcoins in the market to increase, and the bitcoins mined by the mine owners are like the banned stocks being gradually lifted.

Before the price of Bitcoin was high, the mine owners were reluctant to sell it.

It can be seen that the actual situation is completely opposite to what many people think. It is not when the price is high that everyone sells, but they choose to sell with reluctance.

This is similar to the fact that production does not increase when the oil price rises sharply. When the oil price rises sharply, you choose not to sell it, because you may make more money if it continues to rise sharply. As the price rises, the supply of oil becomes tighter, and the tighter the price rises, the more .

When the oil price plummeted, they were all eager to sell because they wanted to maintain the operation of the mine.

The recent situation of Bitcoin is somewhat similar, because the total amount is constant and the price is also high. The mine owners are not in a hurry to sell. Anyway, the cost is low enough, and the higher the price will be, the higher the price will be.

Before the news that Qunxing Capital used Bitcoin to harvest Merrill Lynch was revealed, many people were still optimistic about Bitcoin’s new high.

As a result, I never expected such a sudden loss. The market was afraid that Merrill Lynch would cut the meat and stop the loss. The market must not be able to withstand the selling pressure of millions of bitcoins, so other small players rushed to run, and some people turned back. short.

A large amount of selling pressure gathered in the entire market. When Fang Hong didn't take the initiative to let the trader team suppress it, the market crashed on its own.

The collapse of dozens of percentage points on this day is really unbearable, and the mine bosses are also eager to settle down.

...

At the same time, people from Merrill Lynch continued to negotiate with Qunxing Capital. Today, even Charlie Alexander flew directly from North America to meet Hua Yu in person at Qunxing Capital headquarters to discuss this matter.

Merrill Lynch is still very tough, insisting that Qunxing Capital manipulated the cryptocurrency market, pushing the price of an illusory thing like Bitcoin to sky-high prices, and let Merrill Lynch take over.

Charlie Alexander still demanded to withdraw the capital, and had to make up for Merrill Lynch’s loss of 3 billion U.S. dollars. The specific measure was that Qunxing Capital itself repurchased the more than 4 million bitcoins at the price that Merrill Lynch took over.

There is no doubt that it is impossible for Qunxing Capital to agree.

Huayu's attitude was also very clear, the interviewer was very calm and friendly, and it was okay to ask for a divestment, as long as it was done according to the agreement, and the terms of the agreement did not stipulate that Qunxing Capital should cover investment losses.

Then the conversation broke down without accident, the first meeting broke up badly, this matter is a bit of a joke.

Merrill Lynch's anger is really angry, and the pain is really painful. After all, several billion dollars is really not a small amount.

But it is also true that Merrill Lynch is bluffing people, because those Angsa people did not ask Qunxing Capital to make an asset management plan with sincerity at all, but wanted to explode in a targeted manner.

So it is one thing to threaten to withdraw capital, but it will not actually withdraw capital. After learning that Qunxing Capital is not afraid of threats and assumes that it is impossible to lose money, Merrill Lynch's people are relieved to withdraw capital and make compensation.

Knowing that Qunxing would not lose money, of course they called more fiercely. It was really difficult to grasp before. In fact, I was worried that Qunxing Capital would be really scared if they called too hard, and then they would really obediently pay the money.

The loss is coming back late, but the real plan before may go to waste, which is not good.

And knowing that the stars are not willing to pay, it would be easy to handle, but just be aggressive, and you have to be very excited and angry.

Otherwise, it may arouse the suspicion of Qunxing Capital. After all, it seems very abnormal to be happy and careless after being cut off from leeks.

It's only reasonable to act angry.

They are all top acting players, each with their own calculations.

...

In the following days, Charlie Alexander and Huayu met with Huayu twice to discuss, but the negotiation still failed, and then he returned to North America, and the matter continued to be negotiated.

From the perspective of outsiders who eat melons and watch dramas, Qunxing Capital and Merrill Lynch have broken up, and the cooperative relationship is likely to break down.

Anyway, the people watching the excitement don't think it's a big deal.

The price trend of Bitcoin also rebounded for two days after the flash crash for two consecutive days, rising by +11.77% and +8.79% respectively, but then plummeted again by -21.02% after rebounding for two days, and continued to fall on the next trading day -7.89%, hit a new intraday low of $316.59, and finally closed at $333.73. Its nominal market value shrank to $7.008 billion.

The price of Bitcoin has plummeted, but the enthusiasm for mining has not faded, and there are even many new players entering the market to mine.

Although it has collapsed into a dog, more than 15 billion U.S. dollars have been evaporated from the highest price in history, but the nominal market value of Bitcoin still has a market value of 7 billion U.S. dollars, which is not a small amount.

It is still worth more than 300 US dollars to dig out a bitcoin, which can not only fully cover the electricity bill and computing power resources, but also still have a very considerable profit.

It's just that people are not as profitable as before.

Naturally, continue to dig.

Mine bosses will settle accounts. Many bosses have already bought the machine, and they must continue to dig. Moreover, even if the price of Bitcoin drops to $100 a piece, they can still make some money. At that time, they will no longer make money. It can be thrown into the second-hand market and sold to return a sum of money.

At the current price of Bitcoin, digging out is earning.

However, as the price of Bitcoin showed a downward trend, the mine owners did not dare to hoard the coins, and they all dug them up and sold them quickly, which actually further caused the price to drop.

...

In the A-share market at the same time, on Tuesday, September 13, Big A ushered in its first trading day after the Mid-Autumn Festival.

The Mid-Autumn Festival staged the "Mid-Autumn Tribulation" market, and the big A came to a gap and fell. It once fell to 2453 points in the intraday, a drop of -1.75%, and lost two or three percentage points of the pre-holiday rebound. , And killed a new low out.

The broader market finally closed down -1.06%, closing at 2471.30 points.

Since September, the market conditions of the big A and two cities are hard to describe.

But if you want to say that Big A's most beautiful kid recently, there is no doubt that Tianzhou Online, who has taken advantage of the background of Yixing Media, is a backdoor.

Since the ticket went out of the first board on August 29, it has recorded its 11th consecutive daily limit today, and it is also the tenth consecutive one-word daily limit.

The stock price of Tianzhou Online also rose to 26.94 yuan, and the total market value rose to 5.037 billion yuan, officially breaking through the 5 billion mark, and also breaking through the 2009 second-highest pair top of 25.25 yuan in one fell swoop.

...