Bitcoin prices fell sharply in Asian trading on Wednesday

The price of Bitcoin fell sharply in the Asian session on Wednesday (January 13) , far away from yesterday's high. The quotes released by BITSTAMP showed that Bitcoin/US dollar (XBT/USD) was trading at a high of around 445 yesterday, and fell rapidly to below 430 in the Asian session of this trading day.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by KRAKEN showed that Bitcoin/Euro (XBT/EUR) traded at a high of around 413 yesterday, and fell rapidly to below 395 in the Asian session of this trading day.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by Huobi.com show that Bitcoin/CNY traded at a high of around 2940 yesterday, and fell sharply to around 2720 in the Asian session of this trading day.

(Bitcoin/RMB 30-minute chart Source: Huobi.com)

On the industry side, the RAND Corporation, a comprehensive strategic research organization focusing on military affairs, recently released a report suggesting that the US government oppose Bitcoin.

The report points out that Bitcoin and blockchain technology can achieve decentralized, anonymous and resilient services for global users. However, such technology can be used by certain organizations (such as terrorist organizations) to establish persistent and stable communications and currencies.

The report recommends that countries like the United States, in particular, should oppose Bitcoin and other blockchain-based services. The U.S. government should use complex technical means to undermine the core advantages of Bitcoin in the public's perception: security, stability and privacy.

From the Rand Corporation's report, while advising the US government to oppose Bitcoin, it also clearly acknowledged the core advantages of Bitcoin in terms of security, stability and privacy. But like a double-edged sword, Rand's opposition to Bitcoin is due to its concern that it could be used by terrorist organizations (and could not be destroyed after being used).

At 13:05 Beijing time on January 13, Bitcoin/USD was 430.33, Bitcoin/Euro was 401.00, and Bitcoin/RMB was 2814.83.