比特币等加密货币出现崩盘式行情，你如何看待这一现象？

随着Coinbase的上市，整个加密货币市场急剧上升。 4月14日，比特币的价格最高达到65,747美元，创历史新高。同期，以太币也冲到2500美元以上，也创造了新的历史记录。一位不愿透露姓名的加密金融服务机构PayPal Finance的一位分析师告诉记者，该机构对加密货币的机构间借贷率的统计数据显示，自2020年底以来，随着比特币价格持续上涨再创新高，贷款利率也有所提高。迅速增长，今年2月已接近2020年3月比特币崩溃的水平，这表明市场杠杆率处于较高水平。

On April 14, the price of Bitcoin reached US$ 65,747, a historic high. During the same period, the same amount of NT$ 2500 or more was also recorded. An analyst from PayPal Finance, an anonymous financial service provider, told journalists that the agency's statistics on inter-agency lending rates for encrypted currencies showed that since the end of 2020, interest rates had risen as Bitcoin prices continued to rise and increased.

立研咨询公司的创始人顾彦熙也持类似观点。他告诉人们，目前的比特币价格主要由衍生品决定，一旦衍生品波动，将导致底层的更大波动，即比特币的价格。因此，比特币最近的涨跌非常快，这两者都是杠杆作用的结果。根据市场消息，Coinbase内部人士大量抛售股票也引发了市场情绪波动。美国数据分析网站GuruFocus的统计数据显示，Coinbase上市后，其内部人士售出了129.6万股。根据上周五收盘时Coinbase每股344.38美元的价格计算，其价值超过46亿美元。

The founder of the research consulting firm, Yeon-hee, shared a similar view. He told people that the current bitcoin price was determined mainly by derivatives, which, if volatile, would cause greater volatility at the bottom, i.e., by bitcoin. Thus, Bitcoin's recent ups and downs were very fast, both of which were the result of leverage. According to market news, a large stock sale by Coinbase also triggered market mood fluctuations.

在这方面，原始风险投资的创始合伙人万辉在其个人微博上评论说，“现金变现”必须发生，因为Coinbase是直接上市的，只有现有股东才能出售以拥有初始供应，否则最初是在那里没有流动性，没有做市的可能。比特币价格的暴跌也使它成为了当天微博的热门搜索列表，投资者再次感受到了加密货币市场的刺激。根据截至18日20时的比特币房屋统计，过去24小时内有近472,000人清算了头寸，清算头寸总额超过62亿美元。其中，最大的清算订单发生在火币-比特币上，金额为4,694万美元。

In this connection, the founding partner of the original venture, Heinhui, commented on his personal microblog that “ cash realization & rdquo; must happen because Coinbase was listed directly and only existing shareholders could sell for initial supply, otherwise initially there was no liquidity and no possibility of doing the market. The sharp fall in bitcoin prices also made it a popular list of the day's tweets, and investors again felt the stimulus of the encrypted currency market. According to the 20-hour Bitcoin housing statistics, nearly 472,000 people had cleared their positions over the last 24 hours, totalling over $6.2 billion. , of which the largest settlement order was on a pyro-bit, amounting to $46.94 million.

目前，加密货币仍面临监管不确定性。土耳其中央银行上周决定禁止在付款中使用加密资产。中央银行表示，加密资产既不受任何监管和监督机制的约束，也不受中央监管机构的监督，其市场价值可能会过度波动，也可能被用于非法活动之中。

The Central Bank of Turkey decided last week to ban the use of encrypted assets in payments. The Central Bank of Turkey stated that encrypted assets are not subject to any regulatory and supervisory mechanism, nor are they supervised by central regulators, and that their market values may be excessively volatile or used in illegal activities.