Bitcoin reclaims some market share

Bitcoin has returned to a certain position after falling to a four-month low, but it is under pressure due to concerns about China’s tightening of regulations and concerns about the scope of leveraged positions in the cryptocurrency world.

Bitcoin, the largest and most popular cryptocurrency, rose 8.75% to reach $40,000, and plunged 14% on Wednesday, its lowest since the end of January.

At 06:30 am (Greenwich Mean Time), the smaller competitor Ether rose 6.6% to $2,600 per ton, but trading was extremely volatile after a 28% drop on Wednesday.

On Wednesday, the decline in these two digital assets was the biggest daily increase in more than a year. The reason was that investors scrambled to withdraw from some transactions. Until recently, these transactions far exceeded the performance of traditional markets such as stocks and bonds. .

The latest catalyst is a statement issued by the China Financial Industry Group on Tuesday, prohibiting institutions from providing cryptocurrency registration, trading, clearing and settlement.