In the past few days, bitcoin has experienced a roller coaster market again. It reached an all-time high of $61178.5 at the end of the week. It turned around and fell at random. Yesterday, bitcoin fell as low as about $53000, with a maximum decline of more than 5% on that day. As of press release, bitcoin is currently around $56000.

If we lengthen the time line, bitcoin's growth rate will exceed 90% before the end of the first quarter of this year, nearly 20 times higher than that of the same period last year. Compared with the annual increase of 304.57% in 2020, bitcoin's rise this year may exceed that of last year.

As the world's largest cryptocurrency, bitcoin funds and products attracted the most funds in the first quarter, reaching US $3.3 billion. Ethereum, the "rising star", ranked second with 731 million.

Driven by bitcoin, the "second generation" of cryptocurrency also keeps pace with the "big brother". Ethereum has increased by more than 140% this year. Compared with last year's increase of 473.88% in 2020, it seems that Ethereum has a far greater momentum than last year.

Industry insiders pointed out that bitcoin's sudden decline after hitting a record high is not only related to the news that India plans to legislate to ban cryptocurrency, but also due to the temporary weakening of purchasing pressure from institutional investors. The more investors pour into cryptocurrency, the more regulators are likely to notice. That could slow growth. "The most likely resistance to tighter regulation is still faced by senior analysts like Jesse investing," he said.

(2021-3.17)