Bitcoin prices have fallen 51% this year
Sina US stocks news Beijing time on the 2nd, bitcoin fell sharply on weekends, this is not a Fool's Day joke.
On the morning of April 1st, Bitcoin, the largest cryptocurrency of the market value, fell to $6443 per piece, a record-low 54 days. Before the weekend's tumble, Bitcoin prices have just passed through what investors have called "Sicha", that is, the 50-day moving average penetrated down the 200-day moving average, meaning that its price will continue to fall.
In the past few days, traders have been anxious waiting for the emergence of "Sicha" technical indicators. In the past nine trading days, Bitcoin has fallen for seven days, which has shocked investors. The first quarter of the transaction ended last week, and Bitcoin also experienced the largest quarterly decline since 2011.
The emergence of "Sicha" made the market sentiment pessimistic, but bitcoin seems to have bounced back on Monday (April 2). According to Coindesk, a website that tracks Bitcoin prices, Bitcoin prices rose about 3% to US$7020/piece on Monday morning.
Although bitcoin prices rebounded on Monday morning, they were still far below the record high of US$20089 created on December 17, 2017. Bitcoin prices have fallen by about 51% this year. However, compared to 1 year ago, bitcoin prices still maintained a 538% increase.