Beijing time, December 8, Tuesday.
On this day, Bitcoin occupied all the front pages of Financial Media in the world.
Reuters: "Bitcoin staged an epic roller coaster, with a 24-hour amplitude exceeding 40%"
"From December 7th to 8th, Bitcoin soared from 14000 US Dollar to 18000 US Dollar within 24 hours, and then plummeted to below 11000 US Dollar in just two hours, setting a historical record for the single-day amplitude.
According to marketCap data, the total market value of global cryptocurrency has evaporated by more than 120 billion US Dollar."
Bloomberg: "Crazy 24 hours: The 'giant whale' suspicion behind the sudden rise and fall of Bitcoin"
"At the critical moment when Bitcoin hit 18000 US Dollar, multiple huge sell orders appeared in a concentrated manner.
Analysts tracked on-chain data and found that at least 350,000 Bitcoin (worth approximately 6 billion US Dollar) were sold intensively in this range.
Market speculation abounds: Is this Satoshi Nakamoto, the founder of Bitcoin, cashing out? Or is some early giant whale leaving the market?"
BC: "Who broke Bitcoin? Five guesses from North Korea hackers to Russia oligarchs"
"As for the huge amount of selling above 17000 US Dollar, various versions are circulating in the market:
Some people speculate that it is 'Satoshi Nakamoto' himself who is selling Bitcoin in the genesis block;
Some people think that the Bitcoin obtained by the North Korea government through hacking means is being liquidated;
Some people also suspect that the Russia oligarch is transferring assets;
Some people even suggested that this was a 'directional blasting' carried out by Central Bank of a certain country to attack Digital Currency.
Due to the anonymous nature of Bitcoin, these speculations may never be confirmed."
Financial Times: "Bitcoin'Guillotine': a wealth transfer worth hundreds of billions US Dollar"
"From 18000 US Dollar to 11000 US Dollar, some people became rich overnight during this plunge, while more people lost their fortunes.
Data shows that more than 100,000 long contracts were liquidated in the past 24 hours, with a total amount exceeding 5 billion US Dollar.
One trader lamented on social media: 'I was watching Mercedes-Benz in the morning, and I was ready to sell my house in the evening.'"
The Wall Street Journal: "Bitcoin Too Big to Fail spread all over the world, South Korea, Japan retail investors suffered heavy losses"
"South Korea and Bitcoin were once speculated to a 'kimchi premium' that was 30% higher than the international average price. Now the premium has disappeared, and countless retail investors who borrowed money to speculate in coins have lost all their money.
Japan Tokyo The owner of a Bitcoin bar said his customers had 'lost a third overnight'."
The domestic media has not been idle either.
<Securities Daily>:
"Bitcoin avalanche 24 hours: Domestic investors tremble at the sound of 'mining disaster'"
"According to incomplete statistics, there are more than one million domestic investors holding Bitcoin through various channels.
During this crash, many leveraged investors suffered liquidation.
An investor cried on Weibo: 'RMB rushed from 30,000 to 120,000, but I didn't get on the bus; it fell from 120,000 back to 60,000, and my position was full.'"
Sina Finance:
"Who is cashing out like crazy above 17000 US Dollar? The identity of the mysterious 'giant whale' remains a mystery"
"On-chain data shows that more than 350,000 Bitcoin were transferred between 17,000 and 18,000 US Dollar.
Such a huge amount of selling is beyond the capabilities of ordinary institutions.
Some analysts speculate that early miners may have left the market en masse, while others believe that Bitcoin confiscated by a certain country's government may be in the process of being processed."
Tencent Finance:
"The domestic 'currency circle' had a sleepless night: some people were enjoying the breeze on the rooftop, and some were partying in the bar."
"The reporter visited Beijing, a well-known 'currency circle' gathering place, and found that the currency speculators who used to talk loudly were particularly silent today.
An investor who did not want to be named said with a wry smile: 'In the morning I was still discussing in the group which Ferrari to pick up, and in the afternoon I started discussing which takeaway restaurant had the best discounts.
This is the currency circle, heaven yesterday, hell today.'"
In Baidu Tieba and "Bitcoin Forum", posts are refreshed at a rate of dozens of posts per second.
"Brothers, I'm gone. I chased the long order at 18,000, and it exploded at 13,000."
"My condolences upstairs, I bought 15,000 at the bottom halfway up the mountain, and I'm still carrying it now."
"Have you heard? Someone smashed 350,000 coins above 17,000! How big a deal is this?"
"It must be Satoshi Nakamoto himself! Who else has so many coins besides him?"
"I think it's the North Korea government. Aren't they mining? When they are short of money, they smash the market."
"You are too naive. There must be national power behind this level of selling."
"No matter who it is, I was cut anyway. I will uninstall the software from now on and never touch it again."
"Have you noticed that the famous bull song 'Zhao Chen' didn't speak today?"
This comment took the topic in another direction.
"That's right! Didn't he read too much on one song? Did he escape from the top this time?"
"Just run away, no one can escape from this kind of plummet."
"Not necessarily. If you look at the Weibo he posted before, he has already warned of the risks."
"He is a real veteran player and may have run away long ago."
"It's not surprising that he ran away. With his wealth, do you need to carry it with us?"
"Don't guess, he will definitely come out to talk tomorrow."
And in a WeChat group named "Henglong Harem Wealth Club", it is very lively at the moment.
Zhou Xiaowen:@Everyone, sisters! Have you seen the news? Bitcoin plummeted!
Li Jing: I saw it... it dropped from 18,000 to 11,000. It's terrible.
Zhou Xiaowen: Where are our coins? Did Zhao Zong help us clear it?
Chen Shuhua: Don't panic, I'm watching a song. Zhao Chen said before that he would sell it for us at about 17,000.
Zhou Xiaowen: Have you sold it?
Li Jing: I don't know, there is no news about his song today.
Zhou Xiaowen: Let me call and ask.
Shen Zhiyi: Stop calling... He turned off his phone.
Chen Shuhua: Shut down?
Shen Zhiyi: I started calling him last night and his phone was turned off. When I called Sister Wantang, his phone was also turned off.
Zhou Xiaowen: Damn it, nothing will happen, right?
Chen Shuhua: Crow's Mouth! What could happen to him? He must be too tired and resting.
Li Jing: Yes, he must have been very busy these two days.
Zhou Xiaowen: So are our coins sold or not? I'm very nervous.
Shen Zhiyi: I don't know either... but I think he should sell it.
Chen Shuhua: Why do you think so?
Shen Zhiyi: Because he never misses.
The group was quiet for a few seconds.
Zhou Xiaowen: That's right... I can't refute it.
Li Jing: So we should continue to wait now?
Chen Shuhua: Wait. Wait for him to wake up.
Shen Zhiyi: Wait for him to wake up.
Zhou Xiaowen: Okay. Then I'll take a nap too, and I'll be rich when I wake up.
Li Jing: You think beautifully.
Chen Shuhua: How much profit can we make if we really sell it?
Zhou Xiaowen: Forget it, I can't sleep at night.
Shen Zhiyi: I can't sleep anymore.
At this moment, a new message from Shen Zhiyi WeChat popped up.
Chen Xi: Zhiyi, the Bitcoin position you hold has been closed as planned, Zhao Zong is taking a rest, I will let you know first, and I will tell you the details when he wakes up.
Shen Zhiyi: Thank you, Teacher Chen! Sorry to trouble you!
Shen Zhiyi immediately replied in the group: Stop guessing. It's cleared. The average price is 17,000.
The group immediately exploded.
Zhou Xiaowen: Ahhhhh!
Li Jing:17000!
Chen Shuhua: How much did you earn? Do the math!
Shen Zhiyi: 600,000 RMB, 910 US Dollar build positions, Double Leverage...17000 US Dollar sell...
Chen Shuhua: Don't forget it! I can't calculate it either!
Zhou Xiaowen: All I know is that I got rich!
Li Jing: Make a fortune!
Chen Shuhua: Zhao Chen people?
Shen Zhiyi: He's sleeping. Bitcoin trades 24/7, so he probably hasn't had much rest recently.
Shen Zhiyi: Let him have a good rest, he is too tired.
Zhou Xiaowen: Yes, Zhao Zong must take care of himself. Let's celebrate by ourselves!
Li Jing: How to celebrate?
Zhou Xiaowen: Waiting for Zhiyi's treat!
Shen Zhiyi:... Okay, I'll treat you.
Chen Shuhua: I choose the place!
Li Jing: I choose the dishes!
The crowd was filled with joy.
At this moment, in Lounge on the 28th floor of Henglong Building, Zhao Chen is lying on the sofa, covered with Thin Blanket, sleeping unaware of anyone else.
The phone was muted and there were more than a hundred missed calls on the screen, but he didn't hear any of them.