Some are happy and some are worried, some lose money and others pick it up for nothing｜A Weekly Review of the Currency Circle

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Another big correction, the bull is gone again?

From a high of 64,847 dollars to a low of 47,645 just now, Bitcoin fell by more than 25%, setting a new low since March 6. The users with full positions can only pretend to be dead, the bottom-hunting users shouted "copy in the middle of the mountain", the users who just cleared their positions a few days ago were secretly happy, and the users who opened leverage, they... they may have gone to the rooftop to smoke.

Without warning, Bitcoin has been spiraling down for a week. Many people are worried that there will be no bottom, or even enter a bear market?

Some analysts believe that the most direct reason for the plunge is that US President Biden will propose to nearly double the capital gains tax rate for the rich to 39.6%. The federal tax rate could be as high as 43.4%. The new tax proposal includes taxing the profits of Bitcoin holders. Everyone knows that this bull market is often called "institutional bull". The original half of the investment income has led many institutional investors to sell cryptocurrencies to avoid heavy taxes.

However, the market does not seem to be so negative and pessimistic about this plunge, and some people are still grateful for the opportunity to get back in the car.

Someone kindly reminded, don't rush to buy the bottom, the bottom? It may be too early!

Some big Vs in the currency circle change their jokes in seconds. You must be nice to today’s takeaway boy. How do you know that he is not a multi-millionaire in the currency circle?

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Seventy-five thousand people received the AMPL airdrop with the money blown by the wind

The world is so magical! Some people are crying because their assets have shrunk, but some people are still immersed in another unearned surprise and cannot extricate themselves! On the morning of April 22, AMPL, the leader of the first-generation algorithmic stablecoin, distributed red envelopes, and qualified users can receive the governance token Forth. The specific airdrop amount is divided into the number of received tokens based on the past chain interaction frequency of the user's AMPL address, Geyser project participation, and token holding time.

FORTH issued coins directly on coinbase. The price of FORTH just launched has fluctuated greatly, but the current price is still 36 US dollars per piece. It is said that 75,000 users have received tens of thousands or even hundreds of thousands of airdrop rewards.

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Dogecoin pump and dump, the currency circle is occupied by Dogecoin?

This Monday, Doge soared through the sky and successfully broke through 0.438 dollars and then continued to pump and dump (a technical term in the currency circle, which refers to buyers entering a virtual currency or token at the same time, frying up its price and then immediately throwing it all out, resulting in a sharp drop in price )

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Chia is still crazy, but hard disk manufacturers are stuck

"Green Bitcoin" Chia is still crazy. Even though many people have warned of risks, Chia's computing power and mining machines are still very popular, especially for those who missed Filcoin before, the FOMO sentiment is even more serious. According to media reports, Chia’s current valuation has exceeded 20 billion US dollars.

With the slogan of environmental protection, Chia does not need to mine through electricity, but through proof of space. Some technical bloggers analyzed that “mining graphics cards have lowered the core and super-memory, so after the mining accident, most of them can still be used as game cards; The plot file is generated from the huge volume of data of the verifier, which is used to prove that the verifier has reserved a certain amount of space, resulting in a large number of read, write and delete operations, and when the mining is over, the hard disk must die ugly."

Even though Chia tokens cannot be traded now, Chia mining machines have already taken off and are in a complete "seller's market", even if you have money, you may not be able to buy them. On April 19, the price of hard disks reached a new high point, and many hard disk manufacturers also started to enter the market at this time. They did not expect that "the market is to receive the disk" and "buying the bottom is to lock in". According to "China-Singapore Jingwei" report, the popularity of Chia coins has driven up the price of hard disks. Many speculators came chasing profits and invested millions of dollars at a time. Finally, they found that the price of hard disks plummeted by thousands of yuan overnight, guarding hard disks. Want to cry but have no tears.

Mengyan Finance still wants to remind everyone here that investment needs to be cautious, and participation in high-risk speculation should be even more careful.