Refers to the sharp drop in bitcoin prices on March 12, 2020. At that time, it fell from the opening price of more than 7900 dollars to the lowest price of more than 4 100 dollars, and closed at 4900 dollars, with the biggest drop of 48% and the closing drop of 37%, which caused quite a panic in the market. Most people are trapped, and many people are looking for opportunities to get off.

After the plunge in March 2020, the market continued to recover, from more than 4,900 US dollars to more than 29,000 US dollars by the end of 2020. Until March, 20021year, the price of bitcoin has been above $58,000.

Introduction.

Bitcoin is not issued by a specific monetary institution, but is generated by a large number of calculations of a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors.

The decentralized nature of P2P and the algorithm itself can ensure that the currency is not manipulated by people by creating a large number of bitcoins. The design based on cryptography can make bitcoins only be transferred or paid by the real owners. This ensures the anonymity of currency ownership and circulation transactions.