Recently, the global graphics card prices have fallen. It is reported that NVIDIA has notified its partners that the production cost of graphics cards has dropped by 8% to 12%, which may cause the price of graphics card terminals to drop. There is a decline, causing players to pay attention.
The latest graphics card price trends show that both the NVIDIA GeForce RTX 30 series and the AMD Radeon RX 6000 series are at their lowest prices since January 2021. The Radeon RX 6500 XT was once lower than the official suggested retail price at the German retailer Mindfactory in February.
“TomsHardware” reported that the price of Huida’s top GeForce RTX 3090 graphics card in the German market has dropped from 3,199 euros in May 2021 to only 1,999 euros. The price of AMD Radeon RX 6500 XT has also dropped simultaneously, and the price of AMD Radeon RX 6500 XT with single/dual fan cooling has dropped to 169 and 179 euros. This is about 26.2% lower than the official suggested retail price in Germany of 229 euros including 19% VAT.
Market analysis points out that the price of graphics cards in Germany has fallen recently. In addition to supply and demand reasons, the Radeon RX 6500 XT uses Navi 24 core, 6nm process, 16MB wireless temporary storage, 16 CUs, 1024 stream processors, and 4GB GDDR6 display memory. , The speed is 18Gbps, because the PCIe 4.0 interface has only four channels, the display memory capacity is 4GB, and it does not support 4K H.264 / H.265 encoding and AV1 decoding. It may have a greater impact on performance or usage, and the performance is much lower than expected. Radeon RX The 6500 XT’s specs are inherently inadequate, or an important factor in the price drop.
In addition to the German market, the technology media “Hardware Unboxed” pointed out that the price of ASUS TUF Gaming OC graphics cards equipped with Huida GeForce RTX 3080 in Australia plummeted by 35% in one day, compared with the quoted price of 2,299 Australian dollars, it dropped to 1,499 Australian dollars in just one day. past decline. From China, board card manufacturers ASUS, Gigabyte, etc. have cut the price of each graphics card by more than RMB 100, and MSI may follow suit. None of the above manufacturers would comment.
Previous analysis pointed out that the main reason for the price reduction of graphics cards is that in addition to Huida, which has the highest market share, it also purchases Samsung and TSMC processes to meet market demand. Samsung is increasing its production capacity, and the RTX 30 and RTX 40 series can be effectively supplied under twice the wafer supply. , to relieve the shortage of GPUs in the market, and the processor giant Intel Alchemist GPU will also be launched. Although it remains to be seen to determine the supply, the addition of a third supplier should improve the shortage. In addition, Ethereum 1.0 and 2.0 are expected to merge in the second quarter. Although it may lead to the rise of other cryptocurrencies, it will somewhat reduce the demand for Ethereum mining, which will reduce the demand for GPUs in cryptocurrency and cause the price of graphics cards to drop.
Countries responded to Ukrainian President Volodymyr Zelensky’s appeal to donate Ukrainian bitcoin and other cryptocurrencies for military spending, enabling Ukraine to raise more than $100 million in cryptocurrency donations in less than a month. Ukraine officially passed the cryptocurrency legalization bill on the 16th, local banks can open cryptocurrency accounts, and institutions providing services for cryptocurrencies can also register under specified conditions. The outside world said that Ukraine’s legalization of cryptocurrencies would make it easier to circulate cryptocurrency donations received.
The official Twitter of the Ministry of Digital Transformation of Ukraine on the 16th stated that President Zelensky signed the law on the legalization of cryptocurrencies, foreign and Ukrainian cryptocurrencies can be legally operated in Ukraine, banks can provide cryptocurrency accounts, and institutions providing services for cryptocurrencies can also be registered in Ukraine. Registration under specified conditions describes the New Deal as a milestone in the development of cryptocurrencies in Ukraine.
The statement stated that the bill establishes the legal status, classification and ownership of cryptocurrencies in Ukraine, and the cryptocurrency market will be regulated by the National Securities and Stock Market Committee of Ukraine (NSSMC) and the National Bank of Ukraine (NBU). The NSSMC will be responsible for formulating and implementing cryptocurrency-related policies, ensuring the orderly circulation of cryptocurrencies, and issuing regulatory and financial oversight licenses for institutions that provide services for cryptocurrencies. The bill signed by Zelensky will take effect on the date the amendments to the tax code take effect.
The Ukrainian parliament unanimously approved a draft legalization of cryptocurrencies in September last year, but Zelensky refused to sign it at the time, citing the lack of transparency in the regulator and its inability to protect investors. The final draft was reconsidered in February this year.
After the war between Russia and Ukraine, when the United States and European countries launched sanctions against Russia, experts strongly urged countries to pay more attention-digital currency and cryptocurrencies may become the solution for Russia to evade sanctions in Europe and the United States.
Economic sanctions intensify, Russia kicked out of SWIFT On February 24, after Russia started a full-scale war with Ukraine, the United States subsequently issued a joint statement with the European Commission (European Commission), France, Germany, Italy, Canada and the United Kingdom, jointly offering economic sanctions against Russia, Some large Russian banks have been expelled from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), an international payment system, in the hope of cracking down on Russia’s global trade channels and causing losses to the Russian economy.
“It’s naive to think Russia is not prepared” However, there are various signs that Russia’s sanctions against Europe and the United States seem to be prepared this time. Experts have called for the possibility of using digital currencies in Russia’s transactions with other countries to bypass the penalties and influence of European and American countries.
“It would be naive to think Russia didn’t think about the consequences,” warned Michael Parker, a former U.S. federal prosecutor who is now an anti-money laundering and sanctions researcher at Ferrari & Associates.
Russia implements “de-dollarization” The U.S. dollar is the strongest currency in the world and the most effective diplomatic tool for U.S. economic sanctions. Russia has experienced the severity of US sanctions since its annexation of Crimea in 2014, and it loses about 50 billion US dollars (about 1,402.5 billion Taiwan dollars) every year.
But since then, Russia has gradually reduced its reliance on the US dollar, and also envisaged that it may be kicked out of the international payment system SWIFT after the war with Ukraine in the future, so it began to develop its own SPFS system (System for Transfer of Financial Messages) to reduce Shock, and consider emerging currencies, digital currencies and cryptocurrencies, as a solution to avoid the US dollar and the traditional financial system, but also to trade with other countries.
The digital currency “digital ruble” has been launched The Russian government is actively issuing their digital currency, the digital ruble. As early as October 2020, the Central Bank of Russia announced plans to issue digital rubles to resist U.S. economic sanctions, and in November 2021 last year, it launched the test of the digital platform as planned.
In October 2021, the U.S. Treasury Department also issued a warning that new payment methods for digital currencies may reduce the effectiveness of U.S. economic sanctions and bypass the traditional banking system for transactions; some experts have also issued repeated reminders recently that Russia may Among other countries sanctioned by the United States, looking for objects that can be traded in digital currencies, including China.
The New York Times reported that at the beginning of February this year, Chinese President Xi Jinping and Russia jointly issued a declaration that the two countries have “no limit to friendship and no restricted areas for cooperation”. In addition, China has also issued an official digital currency in recent years. In the future, the two countries will It is possible to take the transaction form of digital currency into consideration.
Cryptocurrency, Russia has unique resources to “mining” In January this year, Russian President Vladimir Putin also expressed his appreciation for Russia’s “competitive advantage” in cryptocurrencies, because Russia has abundant oil, electricity and low temperature, providing a suitable environment for “mining” (Mining). In February, the Russian government reached an agreement with the central bank to formulate a draft to expand the supervision of bitcoin and other cryptocurrencies into the country.
In addition to the possibility of mining to supplement Russia’s income, Russia’s dark web is also very active. The largest black market on the dark web, Hydra, is based in Russia. The previous blockchain analysis platform Chainalysis found on February 14th. 74% of the world’s ransomware revenue went to Russia-related units, with an amount exceeding $400 million (about 11.2 billion Taiwan dollars).
There are precedents in other countries In fact, Russia is not the first country to use digital currency or cryptocurrencies to evade international sanctions. Iran and North Korea have already used cryptocurrencies to increase their country’s income. London-based blockchain analysis company Elliptic estimated in May 2021 that after Iran started mining, the annual Bitcoin (Bitcoin) revenue could reach 1 billion US dollars (about 28 billion Taiwan dollars), successfully survived the US ban on oil, Banking and Shipping Industry Sanctions.
In February, a United Nations report also pointed out that North Korea is likely to continue to finance expensive missile development by stealing cryptocurrency.
Ukrainian Deputy Prime Minister and Minister of Digital Transformation Fedorov (Mykhailo Fedorov) thanked all parties for their cryptocurrency donations on Twitter, and announced the wallet address of Ukraine’s cryptocurrency in the tweet, welcoming more responses.
War and sanctions boost cryptocurrency circulation War and international sanctions have made emerging currencies—especially cryptocurrencies, which have the characteristics of breaking through the state’s restrictions on the free transfer of assets and decentralization—become a more convenient and “safe-haven” asset in times of war. Especially in the Ukrainian War.
After Russia declared war on Ukraine, the ruble slumped to a record low, but the Russian cryptocurrency market rose instead of falling on February 28. Bitcoin rose 10.4% to about $41,000 (about 1.12 million Taiwan dollars). The exchange of Russian rubles for bitcoin in Ukrainian hryvnia (UAH) has reached a new high in months after Russia went to war with Ukraine on Feb. 24, according to cryptocurrency market data provider Kaiko.
The beneficiaries are not only Russia And just two days after Russia invaded Ukraine, Ukraine received about $4 million worth of cryptocurrency donations for a military-supported organization alone, excluding other Ukrainian non-profit and government organizations inside.
The Censorship Resistant feature of cryptocurrencies means that funds donated by donors through cryptocurrencies will never be intercepted, and are more suitable for cross-border donations.
“It turns out that cryptocurrencies can also be a powerful way to fund wars,” said Tom Robinson, founder of London-based blockchain analytics firm Elliptic.
Users who have Asustor NAS at home should pay attention. According to foreign media reports, DeadBolt ransomware has set Asustor NAS as the next target, and has even invaded unprotected devices; DeadBolt only recently attacked NAS products of QNAP Technology and asked QNAP to pay 5~50 Bitcoins to redeem user profile.
Foreign media Tom’s hardware reported that Reddit and Asustor official forum users said that Asustor NAS has become a victim of the DeadBolt ransomware attack. DeadBolt’s modus operandi has not changed much. Mostly, it sneaks into the victim’s NAS from a remote location, then encrypts user data and demands bitcoin redemption. Each victim receives a bitcoin address, and after payment is made, the hacker sends the decryption key to unlock the infected NAS system.
The attackers have not yet demanded any ransom from Asustor, but may use the same extortion method as QNAP, which is to pay 5 bitcoins to disclose the details of the attack vulnerability to Asustor for them to fix; another option is to pay 50 bitcoins , the hacker would send a set of universal unlocking passwords to the company, which could deal with all victim users’ NAS devices at once. However, it is understood that some victims received extortion messages demanding 0.03 bitcoins (about $1,154).
Asustor has yet to make a statement about the DeadBolt attack, and the best thing to do now is to shut down the NAS system without connecting to the Internet, and wait for Asustor to fix it. It is unclear if all Asustor NAS devices are affected by DeadBolt, as some users report that some models such as AS6602T, AS-6210T-4K, AS5304T, AS6102T or AS5304T are not infected; other affected models are AS5304T, AS6404T, AS5104T and AS7004T.
February 13th, US time, is the SuperBowl final day. In addition to the splendid scene of the Los Angeles Rams winning the championship, which attracted fans to watch with bated breath, there was also the following advertisement, which made netizens around the world go viral.
There is only one QR Code image floating around from the beginning to the end of the entire commercial video, much like a screen saver in the PC era. Some netizens pointed out afterwards that they thought the screen was faulty when they first saw it. Surprisingly, more netizens praised in unison that this was the long-awaited advertisement.
It turned out that this was the message that the cryptocurrency exchange CoinBase held an account opening bonus. As long as new users scan the QR Code of the video to open an account successfully, they can get a free Bitcoin (Bitcoin) worth US$15, about NT$418.
Coinbase: Spending millions of dollars just to reveal a QR Code According to Sporting News, the CoinBase ad cost a staggering $14 million in total. The highlighted message is quite simple and rude: one is “the next one is rich, choose to buy advertisements during the most expensive Super Bowl finals in the United States”, and the other is that the overall advertising budget, except for the publication fee, does not focus on celebrity endorsements, so that users can get the most Generous rewards.
The marketing copy fully explains the meaning: “Less talk, more bitcoin.” (Less talk, more bitcoin.)
It’s no wonder that according to the statistics of “Bitcoin Magazine”, within 1 minute of the advertisement being launched, the QR Code received 20 million clicks, and the trading app collapsed due to the influx of scan code popularity. CoinBase also added a $15 bitcoin reward to old users afterwards, which is amazing.
Coinbase is the world’s first cryptocurrency trading platform with a successful IPO, and will be listed on the Nasdaq in 2021. In addition to CoinBase, this year’s US Super Bowl advertisements are full of promotional messages in the currency circle, which shows the strength of the currency industry players.
FTX: Ironically, the outside world has no vision for bad currency circles, and they also do bitcoins Another well-known cryptocurrency trading platform in the United States, FTX, invited American comedy star Larry David to play the role. The plot is to watch the people who invented the wheel, light bulb, Walkman, etc. all the way, and now also watch the cryptocurrency FTX platform. In the future, it implies that people like Buffett who are not optimistic about the cryptocurrency industry will eventually miss out on great innovations.
When the advertisement was launched, FTX also launched a bitcoin lottery campaign for users in the United States. The advertisement was retweeted by more than 2.4 million people on Twitter in one day, which was quite popular.
As the world’s top 3 virtual currency exchange in terms of trading volume, the FTX platform has recently completed a $400 million Series C fundraising, and the company’s valuation is as high as $32 billion. As for the founder and CEO of FTX, Sam Bankman-Fried (Sam Bankman-Fried) is only 29 years old, and he is the youngest person on the Forbes 400 list because he created the platform and is worth $22 billion.
FTX can definitely compete with Coinbase in terms of its own valuation or ability to spread money. For a long time, FTX has been most admired by users in the currency circle for the new coins that are often given out. For example, in early February, FTX just launched a SAND coin airdrop event in cooperation with the metaverse real estate game Sandbox.
Crypto.com: Ask James Wong and Matt Damon to endorse, users can listen to Spotify for free The Crypto.com cryptocurrency exchange from Singapore also spends a lot of money to advertise in the Super Bowl, bringing out the NBA Lakers LeBron James to recreate “back to the past”, predicting to himself in 2003 that one day there will be electric cars , cell phones, and he’ll be on the NBA stage. Using this analogy, cryptocurrencies are the big future.
In order to dominate the American market, last year Crypto.com hired movie star Matt Damon as a spokesperson, and even spent $700 million in title sponsorship at the home of the Lakers, sparking a discussion among netizens that the company is too rich and powerful. The American team turf is not spared.
However, the most famous offer of Crypto.com is that users can listen to Spotify for free as long as they pledge about 500 Singapore dollars (about 10,000 Taiwan dollars) of the platform currency CRO. Deposit all kinds of cryptocurrencies on the platform, and you can earn up to 12.5% annualized interest, which is far better than traditional banks. It is often questioned by the outside world where the abundant funds come from? Does it burn out sooner or later?
The Super Bowl smashing advertisements is an arms display for companies to conquer the world in the United States The American Football Super Bowl is the most popular professional game in the United States, and it has become a battleground for all companies to fight for their reputation. Therefore, it is the most expensive advertising period in the United States throughout the year.
According to the “New York Times” report, it costs $7 million every 30 seconds to advertise during the Super Bowl. This year is especially special. More than half of the Super Bowl advertising funds come from the currency circle.
Why are these cryptocurrency industry players crowded during the Super Bowl to expose themselves?
Beth Egan, associate professor of advertising at Syracuse University in the United States, pointed out that these companies want to send the following message: We are really big companies, we are the main trend in the world, we are still qualified advertising sponsors, not hiding A “weird house” in the corner who does a side business.
Companies spend a lot of money to expose themselves in the Super Bowl, not only to attract popularity, but also because in the minds of the American people, companies that have the ability to smash advertisements in the Super Bowl are called companies that are on the table.
The most famous example is Apple founder Steve Jobs. In order to build the reputation of the Macintosh computer, he spent money on advertising in the 1984 Super Bowl and hired Hollywood director Riley Scott. Ridley Scott directed part of the plot of the famous sci-fi masterpiece “1984”, saying that only the Apple Macintosh computer can save mankind from Big Brother, which made Apple, a rookie in the technology industry, an instant hit.
These cryptocurrency industry players are using silver bullets to advertise, and the judgment is based on similar reasons. Especially this year, many Wall Street industry players see the trend of bad currency circles, and even sing that cryptocurrencies will return to zero overnight. Spending money to be exposed during the most expensive advertising period is nothing less than the best display of corporate financial resources.
For example, FTX founder Bankman Freed recently expressed his disapproval of the prediction that the Federal Reserve will raise interest rates and put the currency into a bear market. He also believes that the Super Bowl exposure is a good channel for communication with users.
Whether Wall Street experts believe it or not, at least the fact that the cryptocurrency industry is not soft on burning money is obvious in the advertisements of the Super Bowl. From the point of view of the popularity of grabbing bitcoins on the Internet and 20 million times in one minute, the United States is also moving towards becoming a big country in the use of virtual currency. .
The conflict between Ukraine and eastern pro-Russian rebels broke out on the 17th, making the war between Russia and Ukraine even more tense. US President Joe Biden warned that Russia may invade Ukraine “in a few days”. Bitcoin fell 8% in response. Analysts have warned that if Russia does invade Ukraine, the cryptocurrency could face a 10% to 15% decline.
MarketWatch and Kitco News reported that Edward Moya, a senior market analyst at Oanda, published a research report on the 17th, pointing out that Bitcoin is the ultimate risk asset. %.
Investors are also watching how aggressively the Federal Reserve is about to tighten monetary policy. Some traders now predict that the Fed could raise rates by six yards this year. While Bitcoin’s outlook is broadly positive, institutional investors may scale back their bets if the long-term growth potential is hit by aggressive Fed tightening, Moya said.
Moya also said that Wall Street is now in full de-risking mode, and Bitcoin is paying for it. Under the double blow of geopolitical risks and the central bank’s active interest rate hike doubts, the entire cryptocurrency market has fallen into a free fall.
Chris Weston, head of research at Pepperstone, said that the movement of cryptocurrencies once again shows that this is a highly volatile and high-risk asset.
St. Louis Federal Reserve President James Bullard’s latest remarks on the 17th again supported the Fed raising interest rates by a full percentage point in the next three meetings to fight inflation. He told CNN that the inflation target has been exceeded, the interest rate policy is still ultra-low, and the central bank is even buying assets. It is time to reduce easing.
According to CoinDesk quotations, as of 9:35 a.m. Taipei time on the 18th, bitcoin was at $40,678.10, down 7.75% from 24 hours ago; the year-to-date decline has expanded to 12.33%.
The Metaverse is red, driving the prosperity of NFT. Due to the non-fungible currency based on blockchain technology, the uniqueness and traceability of NFTs allow people to have unique digital assets, which are quickly favored, especially in the various art markets that are always plagued by “copying”.
The rapidly “hyped” NFT has not only attracted more and more people to join, but has also become a tool for “intended people” to commit crimes. NFT sales will reach $40 billion in 2021, but there are more and more thefts and scams in the NFT market, and many people who intend to enter NFT are worried that transactions may be involved in money laundering.
HMRC has caught three suspects in its recent investigation into 250 fake companies worth £1.4 million in scams, seized £5,000 worth of crypto assets (approximately $6,762) and three unvalued assets. NFT artwork (worth about $1.8 million), becoming the first law enforcement agency in the UK to seize NFTs.
HMRC does not have actual control of the digital assets on the blockchain, but obtained a court order to prevent the continued sale of the seized digital art. HMRC said the arrested suspects used sophisticated tactics to hide and cover up their illegal activities, including the use of fake IPs, prepaid phone cards, VPNs and fake identities.
Nick Sharp, deputy director of HMRC’s Economic Crime Unit, said: “The government is constantly adapting to new technologies to ensure it keeps up with the way criminals and tax evaders hide their assets, and this seizure is a warning to anyone who thinks crypto assets can be used to hide funds.”
In addition to the United Kingdom, other countries have also used NFT scams or other illegal acts. Cent, the NFT issuance and trading platform, suspended all transactions due to the discovery of illegal NFTs.
The U.S. Department of Justice recently seized a large amount of bitcoin stolen from a cryptocurrency exchange in 2016 when a hacker attacked it, arresting two money laundering suspects. More than 94,000 bitcoins were seized. According to the price at the time of the theft, these bitcoins were worth about 70 million US dollars. However, the price of bitcoins has soared in recent years. Now the total value of this batch of bitcoins is about 4.5 billion US dollars, and less than 80% of them are recovered. , worth about $3.6 billion.
David Carlisle, director of policy and regulatory affairs at cryptocurrency firm Elliptic, said that law enforcement agencies can track criminals’ transactions and seize crypto assets involved in illegal activities. This NFT seizure means that criminals cannot hide in the cryptocurrency world.
The UK case shows that crypto assets are not a safe haven for criminals, but countries also need to be wary of criminal activities in crypto assets such as NFTs.
The Bloomberg Billionaires Index has boosted the worth of Binance founder and CEO Changpeng Zhao to the 11th richest man in the world. Binance, which he founded, can be called a “rich maker”, which distributes cryptocurrencies as bonuses to employees and leads them to become billionaires. One Binance coin is now worth more than 13,000 Taiwan dollars. Do ordinary people still have a chance to replicate his road to riches?
Standing on the other side of the phone screen, Changpeng Zhao was in Dubai when he was interviewed by Foresight. The cryptocurrency exchange he founded, Binance, just signed a cooperation agreement with the Dubai World Trade Center Authority (DWTCA). , to jointly promote the establishment of a “global industrial center of virtual assets” in Dubai.
Wearing a black T-shirt with the Binance logo printed on it, three buttons and two buttons neatly, and a soldier-like flat head, Changpeng Zhao does not look like the richest man at all. Standing all the way to the end of the conversation, completely hiding the momentum of the personal net worth of up to 96 billion US dollars (about 2.65 trillion Taiwan dollars).
Hot search on both sides of the strait, who is Changpeng Zhao?
To become the richest man in the new Chinese, first of all, the Chinese media “Caijing” published an article on Weibo, estimating that Changpeng Zhao’s worth surpassed that of China’s richest man and the chairman of Nongfu Spring, Zhong Suisui, to become the “Chinese richest man” and ranks among the top ten richest people in the world. As soon as the news came out, everyone was shocked and became a common hot search on both sides of the strait that day. Without exception, they all asked, “What is the origin of Changpeng Zhao?”
That happened on December 1, 2021. His worth was estimated at $90 billion. After only two months, his name reappeared on the US media “Bloomberg” billionaire index, and his worth skyrocketed. to $96 billion.
In the list of billionaires on January 10, 2022, he surpassed Mukesh Ambani, the richest man in Asia and chairman of India’s Reliance Group, and also beat Facebook founder Mark Zuckerberg and Google founder. Larry Page.
With the title of the richest man falling on the heads of people in the currency circle, the cryptocurrency that is invisible and intangible, is it a hyped Ponzi scheme? Or the new gold of the digital age? Makes it even harder to see. But Bitcoin’s crazy rally in 2021 may prove that the currency circle is becoming more and more influential.
Binance, the world’s largest cryptocurrency exchange, plans to take a stake in century-old publisher Forbes for $200 million.
CNBC, citing people familiar with the matter, said the funding helped Forbes merge with a special-purpose acquisition company (SPAC) to go public in the first quarter. Binance accounted for half of the $400 million that Forbes announced in August last year from institutional investors, making Binance the top two Forbes shareholders and two of nine board seats.
Forbes will be listed on the New York Stock Exchange under the ticker symbol “FRBS.” This move shows that the cryptocurrency industry is creating many new billionaires and has an increasing impact on the real world. It is also the first major investment of the cryptocurrency industry in traditional American media.
Forbes was founded in 1917, the first issue was on September 15, 1917, and has a history of 104 years; In 2014, Forbes sold 95% of its shares to the Hong Kong investment group “Beijing Whale Media Investment” for about US$475 million. “Integrated Whale Media Investments”, is composed of several Asian investors including Xie Weiqi, the co-founder of ASUS Computer, and Ren Dezhang, the former chairman of Fenglin Group.
According to Bloomberg, Binance founder and CEO Changpeng Zhao was worth $96 billion in January, making him the richest man in the cryptocurrency industry. This figure is only a conservative estimate and does not include cryptocurrency holdings.
Big Brother is back! Bitcoin surged 11% yesterday, recovering $40,000 in lost ground, with bottom-feeders laughing and a large number of airmen sacrificing themselves in just a few hours.
Bitcoin, the big brother of cryptocurrency, finally broke free from its two-week struggle in the $38,000 range and surged in the early hours of Feb. 5, literally.
At 11 p.m. on February 4, Bitcoin was still hovering around $37,900, but an hour later, the calendar flipped to the fifth day of the Lunar New Year, and something really “went wrong” for the Air Force. In just one hour, Bitcoin climbed $2,000, directly hitting the $40,000 barrier.
According to market watcher Coinglass, about $50 million of Bitcoin’s air force has been shorted in the past four hours, and the overall cryptocurrency market has been shorted by as much as $100 million.
Today’s surge exceeded many optimistic analysts’ expectations. Analysts who predicted last week that bitcoin would pull in at $39,600 were laughed at for being illiterate believers, but they didn’t expect bitcoin’s crazy rally to be a direct slap in the face to the bearish.
As of this writing, Bitcoin is trading at $41,345, up 11.45% in a single day, with a total market cap of $783.4 billion, finally shaking off the January slump and returning to the levels of January 7.
The money circle community believes that with all the negative news over the past month, those who want to get rid of the stock have almost sold out.
The big brother is taking the lead and the second brother is not resting either. Ether has doubled by 10% to $3,000, while maintaining a daily burn rate of about $30 million, moving towards Ether 2.0.