On April 13, bitcoin once broke through the $64000 mark, reaching a maximum of $64778, which made investors from all walks of life cheer up and extremely optimistic about the investment prospect of cryptocurrency. The previously unknown doggie currency had a sharp rise of 200% on that day, but today, the collective cryptocurrency collapsed.

Bitcoin once fell below $52000, down $7000, down more than 15% in the day, Ethereum plummeted 20%, and once fell below $2000. Dogcoin, which had risen sharply before, plummeted 19%.

On the news side, multiple bad news came one after another.

Coinbase, the world's largest cryptocurrency exchange, has just been listed. Its executives have cashed out more than $4.6 billion. Among them, the CEO of the company sold 749999 shares and cashed out 290 million US dollars. The CFO of the company sold all 255500 shares at the price of 388.73 US dollars, totaling about 99.32 million US dollars.

There are also media reports that the US Treasury Department has accused several financial institutions of using cryptocurrency to launder money.

Earlier, Dario, founder of Bridgewater fund, said in an interview that bitcoin is likely to be banned, just like the government forbids private gold holdings. He pointed out that the Indian government is ready to legislate against bitcoin and other cryptocurrencies. Each country attaches great importance to its monopoly position in controlling supply and demand. The government does not want other funds to participate in operation or competition, because things may get out of control. So I think that under certain circumstances, bitcoin is likely to be defined as illegal, just like private people can't hold gold. "

Dario believes that once the government issues a ban, the price of bitcoin may plummet; and whether it can be completely banned depends on the privacy of bitcoin.

It is not only the Indian government that intends to legislate to ban cryptocurrency, but the Turkish government's action is faster. The Turkish central bank announced that it will ban the use of cryptocurrency for payment, because there are significant risks in cryptocurrency assets. Cryptocurrency assets are not subject to any regulatory and supervisory mechanisms and may be used for illegal acts.

Overnight, cryptocurrency seems to be in the situation of everyone shouting. The future of cryptocurrency depends on the regulatory attitude and measures of governments.

(2021-4-20)