Editor's Note: This article comes fromWu said blockchain (ID: yibenqkl), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Wu said blockchain (ID: yibenqkl)

Wu said blockchain (ID: yibenqkl), reprinted by Odaily with authorization.

Only when the tide goes out do you know who is swimming naked.

Bitcoin has fallen below $5,000, a drop of more than 40%. Data shows that Bitcoin has become one of the assets with the largest decline in this round, second only to oil. Tesla, which has recently resonated with Bitcoin, has also fallen by 40%.

Why did Bitcoin fall below $5,000? Yesterday Wu said that the blockchain has done a detailed analysis: "

The spread of the epidemic and the global crisis don't expect Bitcoin to halve! ".

The core reason is the global spread and intensification of the new crown pneumonia, which has led to people's cash being king, withdrawing cash from speculative products and not daring to speculate. It can also be seen from the above figure that cash is currently the only asset that has not fallen, and investors naturally vote with their feet.

Will Bitcoin bounce back?

There are three reasons in favor of the rebound:

1. According to data, bottom-hunting has started one after another, 76% of coinbase users are buying, and the number of user addresses holding 1btc has reached a new high;

2. China announced that the peak of the new crown pneumonia has passed, showing that the epidemic is controllable. Judging from China's time, European and American countries will also pass the peak in 2 months, and the world economy will return to normal by then;

3. When the world economy returns to normal, the halving of Bitcoin will bring a wave of positive sentiment.