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The price of Bitcoin has dropped below the $ 40000 threshold for the first time in 14 weeks, causing the crypto market to blow away $ 276 billion in capitalization in just a few hours Accordingly, on the morning of May 19, 2021 (Vietnam time), the price of Bitcoin (BTC) - the world's largest cryptocurrency suddenly dropped sharply from the $43598 mark to $38600, according to data from Cointelegraph. The world's largest exchange Binance. The price of Bitcoin is currently hovering around $39,000, representing a 12.9% drop from 24 hours ago, according to CoinDesk.

This sharp drop dragged the total cryptocurrency market capitalization from 2072 billion, to 1796 billion dollars, blowing away 276 billion dollars in just a few hours. The plunge in the price of Bitcoin also led to a decrease in the price of a series of other cryptocurrencies such as ETH, BNB, Dogecoin ..etc.

Notably, this is Bitcoin's third consecutive sharp drop in just a few days. Before that, the price of Bitcoin immediately 'free fall' from the peak price of about 59,000 USD. This drop came when Tesla announced it was stopping accepting payments in Bitcoin because of concerns that the mining process of this cryptocurrency would have an impact on the environment. Following that, rumors about Tesla selling off the Bitcoin it owns made the price of Bitcoin 'lower and lower'. According to many experts, Bitcoin's latest drop occurred after Reuters news agency published an article referring to the announcement of the People's Bank of China (PBOC), which affirmed its stance of not accepting the form of Bitcoin. electronic payment. The statement was also posted on government CCTV channels and on the PBOC's official WeChat page.

However, many crypto experts criticized the Reuters article, accusing the news agency of "false" reporting. According to Thestreet, the Reuters report may mislead the public as the Chinese government has just introduced a new ban on cryptocurrencies. In fact, the PBOC just reiterated the regulations that the country has long applied to warn about the risks when trading and investing in cryptocurrencies.

Yu Lingqu, deputy director at the China Development Research Institute in Shenzhen, said that the PBOC's latest statement does not come with any new regulatory measures for cryptocurrencies.

Liu Yang, a lawyer at Beijing-based law firm DeHeng Law Office, confirmed that the notice, although posted by the PBOC, was compiled by industry associations, rather than government officials. Chinese government.

"They just want to be cautious," said Bobby Lee, founder and CEO of e-wallet provider Ballet, commenting on the PBOC's latest move. "They feel the market is overblown, with more and more speculative transactions appearing. They're looking for the best interests of everyone."

Hollywood movie actor and former California Governor Arnold Schwarzenegger has confirmed that he does not invest in bitcoin or any other cryptocurrencies because he studied under Warren Buffett, not in things he does not understand. Schwarzenegger has long turned to Buffett for advice. While campaigning for California governor in 2003, he hired Buffett as his senior financial and economic advisor. This is believed to be the reason why Schwarzenegger won the election and was in office until 2011.

The Hollywood actor has previously described Buffett as "the greatest investor ever, my mentor and hero". He also added: "Warren has a conventional approach to business issues and integrity that is second to none. That's the same way I want to approach management." Earlier this month, Buffett and finance expert Charlie Munger commented on bitcoin at Berkshire Hathaway's annual shareholder meeting. While Buffett avoids commenting directly on the cryptocurrency for not wanting to disturb longtime bitcoin investors, Munger bluntly said: "I hate the success of bitcoin . "

"This whole damn development is disgusting and goes against the interests of civilization," he added.

According to Wealthygorilla statistics , Arnold Schwarzenegger owns a net worth of 400 million USD at the age of 73. Income accumulated through decades of acting, trading, and investing in real estate of the Austrian star.

For the past four years, Elon Musk and Mark Zuckerberg have been fighting each other on everything from artificial intelligence to rockets.

Two tycoons - one is Tesla and SpaceX owners, the other owns Facebook, which doesn't cover up the hostility between the two. When a SpaceX rocket caught fire, destroying a Facebook satellite in 2016, Zuckerberg posted a statement saying he was "disappointed" at SpaceX's mistake. And when Facebook was caught up in the Cambridege Analytica data disclosure scandal, Musk publicly deleted Tesla's Facebook page, SpaceX, and said that Facebook made him "terrified".

During a Facebook meeting, one viewer questioned Zuckerberg what he thought of Musk's fear that AI could endanger everyone.

" I feel very strongly about this issue. It is difficult to understand those who protest and thought out perspective terrible about it. That is really negative, and in some ways, I think is quite irresponsible " .

Musk, meanwhile, is concerned about AI and replied: " I've talked to Mark about this before. His understanding of the topic is very limited ."

In 2018, following the Facebook data disclosure scandal, Musk publicly announced the removal of the Facebook page of SpaceX and Tesla. Overall, despite the fact that both people have an interest in artificial intelligence and their companies have collaborated in the past, it seems that Musk and Zuckerberg have never "got along."

Yet on a still controversial topic like Bitcoin, Elon Musk and Mark Zuckerberg seem to have a lot in common.

In particular, the fact that Elon Musk publicly supports Bitcoin is unquestionable. Tesla even spent more than $ 1 billion investing in Bitcoin and many times through just one tweet to support Bitcoin, Elon Musk has made Bitcoin's price skyrocketing.

For his part, Mark Zuckerberg was more discreet. This is one of the rare tech billionaires who hold a neutral stance on Bitcoin, as well as cryptocurrencies.

In 2018, Mark Zuckerberg admitted " wanted to go deeper and study the positive and negative aspects of these technologies, and how best to use them in Facebook's services ".

Since then, Zuckerberg has always held a positive stance, especially on blockchain technology. " The technology that powers Bitcoin can help improve Facebook in the future, " he said.

Recently, however, yesterday, Mark Zuckerberg gave more evidence that he seems to fully support Bitcoin.

Specifically, Zuckerberg showed off 2 goats he raised on his own farm. Remarkably, their names are Max and Bitcoin!

Some have argued that the tech billionaire is trying to influence Bitcoin's price, just as Elon Musk is doing with Dogecoin.

Besides, pairing 2 words Max and Bitcoin will form Max Bitcoin - a term referring to Bitcoin buyers to increase their distribution in the portfolio (maximize the number of Bitcoins). Even so, maybe this was just a coincidence.

Another analysis addresses the word "goat". Accordingly, in English, GOAT is an acronym for "Greatest of all time" (greatest of all time). Some have surmised Zuckerberg's caption is "My goats: Max and Bitcoin", possibly meaning Bitcoin is "greatest of all time".

Bitcoin fell below US$50,000 for the first time since March 5 last week. On Monday (26th), Bitcoin made a comeback, rising by more than 8%, reaching US$53,950, approaching the US$54,000 mark.

Last week, the currency circle worried that US President Biden might raise the capital gains tax on cryptocurrencies and other investments, and strengthened supervision, prompting the price of Bitcoin to drop to its lowest point since February this year, and the crypto market value of over $200 billion evaporated overnight.

The bulls who bought on dips swarmed in on Monday, and the currency circle rejoiced. Bitcoin returned to the 53,000 U.S. dollar mark, approaching the 54,000 U.S. dollar mark.



The enthusiasm of large institutions for cryptocurrencies remains unabated. These multi-head institutions believe that Bitcoin will become a diversified investment in their portfolios in the context of increasing inflation.

The latest news came out on Monday that JP Morgan Chase will issue an actively managed Bitcoin fund to private wealth clients, which will be launched as soon as this summer.

In early April, Goldman Sachs announced plans to launch Bitcoin investment services. In March of this year, JPMorgan Chase applied to the U.S. Securities and Exchange Commission (SEC) to launch a "cryptocurrency investment portfolio" for companies that focus on investing in cryptocurrencies.

With the help of institutional investors and companies such as Tesla, the market value of Bitcoin has increased by 80% so far this year, but compared with the recent historical high of $65,000, Bitcoin has fallen by about 17%.

Many officials from the US Treasury Secretary Janet Yellen, European Central Bank (ECB) President Christine Lagarde, Federal Reserve Chairman Bauer (Fed) and many other officials all issued bitcoin warnings.

Turkey banned the use of cryptocurrency payments on April 19th. Two cryptocurrency exchanges have been closed. The CEO of crypto exchange Thodex is suspected of absconding with funds, taking away US$2 billion in investor funds. Crypto regulation has become a market focus.

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The enthusiasm of large institutions for cryptocurrencies remains unabated. These multi-head institutions believe that Bitcoin will become a diversified investment in their portfolios in the context of increasing inflation.

The latest news came out on Monday that JP Morgan Chase will issue an actively managed Bitcoin fund to private wealth clients, which will be launched as soon as this summer.

In early April, Goldman Sachs announced plans to launch Bitcoin investment services. In March of this year, JPMorgan Chase applied to the U.S. Securities and Exchange Commission (SEC) to launch a "cryptocurrency investment portfolio" for companies that focus on investing in cryptocurrencies.

With the help of institutional investors and companies such as Tesla, the market value of Bitcoin has increased by 80% so far this year, but compared with the recent historical high of $65,000, Bitcoin has fallen by about 17%.

Many officials from the US Treasury Secretary Janet Yellen, European Central Bank (ECB) President Christine Lagarde, Federal Reserve Chairman Bauer (Fed) and many other officials all issued bitcoin warnings.

Turkey banned the use of cryptocurrency payments on April 19th. Two cryptocurrency exchanges have been closed. The CEO of crypto exchange Thodex is suspected of absconding with funds, taking away US$2 billion in investor funds. Crypto regulation has become a market focus.