Gate.io’s Daily Market Trends （June 6th）：Weibo Seized a Large Number of Doin Dircle KOL Bitcoin Price Plunged 5%

2021-06-06, 05:49

As of 11:30 CST, Bitcoin’s price was $37,536.17 and Ether’s price was $2,778.93.

Yesterday, affected by the seizure of a large number of cryptocurrency influencers on Weibo, Bitcoin’s price fell severely, dropping $1,496.69 in one hour and hitting a low of $34,809.83 at 5:00 today. Eventually Bitcoin’s price saw a burst of retaliatory rebound. At midday, Bitcoin’s price was hovering around $36,000. Bitcoin investors, especially Chinese investors, are extremely sensitive to changes in domestic regulatory policy, and new regulatory moves may follow that will continue to affect investor sentiment.

The BPC supervisor Chen Weigang said: domestic Bitcoin mining cannot be completely banned. Recent regulatory policies have focused on restrictions on corporate gouging. In the future there may be financial audit methods to monitor the mining behavior of enterprises.

On the evening of the 5th, the microblogging platform seized a large number of cryptocurrency KOL accounts, a move that caused extreme panic emotions in the market, with Bitcoin price plunging by 5% on the evening of the 5th.

Vitalik Buterin, one of the founders of Ether, said on the show that he was optimistic about the development of Meme tokens, including Dogecoin, and hoped that the Dogecoin project side would reach a partnership with Ether to increase the scalability and usage scenarios of Dogecoin. Later, Tesla CEO Musk echoed the view.

The CEO of Paxos said at the 2021 Bitcoin Conference that Bitcoin has immeasurable possibilities and its development has just begun. Short-term prices should not be the focus of attention, but rather investors should relate to the long-term direction of Bitcoin’s price.

According to Gate.io data, a total of 58,352 traders suffered trade blowouts in the past 24 hours, involving a total of more than $382 million.

Author: Gate.io Researchers: Charles. F & Gazer. C
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Gate.io Spot Quotes (as of 11:30 CST)
BTC:$35968.94(-4.21%)；ETH:$2676.77(-3.41%)；DOGE:$0.372581(-2.93%)；GT:$4.7155(-3.3%)；XRP:$0.93767(-4.69%)；ADA:$1.6783(-4.27%)；DOT:$23.922(-7.58%)；UNI:$26.097(-4.71%)；