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Original Title: 10.8 Million Times Increase! Bitcoin Kicks Off ‘Carnival’ Mode, Experts – Now It’s Just the Beginning
“Most of the world’s assets are in the hands of management agencies. If the agency recognizes thisinvestmentTarget, a lot of funds will flow to Bitcoin,priceGet up naturally. This is just the beginning. “In Gu Yanxi’s view, it is precisely because institutions recognize Bitcoin that the future ‘bull market’ of Bitcoin can be expected.
“It’s like a Christmas party.” Bitcoin Investors and Investors Who Entered the Money Circle in 2013BlockchainCreator Yao Yuan, December 28to acceptIn an interview, Times Finance exclaimed. “There will be a lot of painful things happening around the world in 2020, but the rise of Bitcoin may bring some joy to many people around the world.”
As of December 25, Bitcoin came out of a crazy market wave. At around 7:15 p.m. on December 27, the price of Bitcoin peaked at $ 28,323, which is equal to more than 180,000.RMBOne.
Since the birth of Bitcoin in 2009, its first price was approximately US $ 0.0025 when it was bought in 2010. If calculated at a price of US $ 27,000, the price increase since the birth of Bitcoin has reached approximately 10, 8 million times.
“Christmas Dates” Featured By Trump’s Exclusive Plan
In the last half month, Bitcoin’s gains have been gratifying.
On the night of December 16, Bitcoin hit the $ 20,000 mark for the first time since its inception in 2009. The industry commented that Bitcoin has fully recovered from the three-year bear market.
“The end of the debt cycle is basically a bull market for Bitcoin. The United States, Europe and other countries are rampant in QE, inflation in Latin America, devaluation of legal currencies and the demand for stablecoins of Bitcoin and US dollars is shoot”. Wei Ran On the 28th, Shidai Finance analyzed the reasons for this round of increase.
There is an industry consensus that this year’s new corona pneumonia epidemic has exacerbated expectations for a global economic recession. In the context of the global central bank “draft”, global inflation expectations have risen and deflationary assets with anti-inflationary properties are inherently scarce resources. The demand for coins increased even more.
As for the recent “Christmas market” for Bitcoin, Yao Yuan believes that it is largely related to the $ 2.3 trillion rescue package signed by the Trump administration on Christmas Eve. “The rescue plan is correctmarketIt’s positive, it stabilizes US stocks and accelerates the rise of Bitcoin. “
US Force Investigation Consultingthe companyGu Yanxi, founder, researcher and practitioner of the blockchain and crypto digital asset industry, said in an interview with Times Finance and Economics in the United States on December 28 that in addition to the “big launch”, this round of surge may also be related to three market factors. :
First, the third largest crypto in the worldcoinRipple XRP (Ripple) was recently sued by the US government, and many institutions and investors left Ripple to exchange it for Bitcoin, driving prices up.
Second, in the past, it was mainly the beliefs of retail users and the speculation of speculators that caused the price of Bitcoin to appreciate. This year, the international community has increasingly recognized Bitcoin as a tool for storing and transmitting value. Bitcoin is essentially a virtual asset. Because the total quantity is limited, it is not controlled by any government or individual, and has the function of storing and transmitting value. Especially in regions with unstable monetary policies, such as Lebanon, Argentina, Venezuela and other countries where the local legal currency is not stable under the impact of the epidemic, people convert the local legal currency into Bitcoin and then convert the Bitcoin into US dollars. Buy items that meet the needs of everyday life.
Third, the market complies with Bitcoin.productIt is expected to increase further, and many licensed investment institutions have establishedMonetary FundOr ask the regulatory agency for digital currency trading to increase the price of Bitcoin.
“Most of the assets in the world are in the hands of management institutions. If the institution recognizes this investment objective, a large amount of funds will flow into Bitcoin and the price will naturally increase. Now is just the beginning.” In Gu Yanxi’s opinion, it is Because Bitcoin is recognized by institutions, the future “bull market” of Bitcoin can be expected.
Wei Ran also agreed with this opinion, noting that in recent years large institutional investors such as the familybackground, Insurance Capital, Fidelity (US)FidelityCapital) and other asset management institutions are considering the allocation of some bitcoin-related assets in the investment portfolio. “You don’t have to buy coins to set up Bitcoin, you can also buy BTC directly like Greyscale ETFIndex product. The current ‘bull market’ for Bitcoin has a very concentrated bargaining chip, which is a bright signal for large-scale purchases by institutions, and has little to do with small dispersions. “
Recognized by the main financial institutions
December 10, the largest in Southeast AsiadealBankDBSBankThe announcement of the “official launch of a comprehensive digital trading platform” spread throughout the money circle.
DBSBankPlans to launch Bitcoin related businesses, which mainly include three contents: First, to provide transaction services for some conventional crypto digital currencies, including Bitcoin, and are provided in Singapore dollars, Japanese yen, US dollars and Hong Kong dollars. These encrypted digital currency transaction services. Second, provide escrow services for encrypted digital assets. Third, it plans to start the STO (Securities Token Issuance) business, which is to provide full lifecycle services for encrypted digital assets, including generation, circulation, recording, custody, trading and settlement.
Gu Yanxi believes that this is a great benefit for Bitcoin. Previously, major financial institutions questioned or even scorned Bitcoin.attitudeThink of it as a speculative tool or a Ponzi scheme, as the “god of stocks” Buffett even thinks that Bitcoin is “the square of rat poison.” As Bitcoin is recognized by institutions like DBS Bank, Bitcoin transactions are labeled “legal” or “compliant”.
In fact, Bitcoin has already started the “journey” recognized by major financial institutions. Gu Yanxi announced that in August this year, the US publicly traded company Micro Strategy (NASDAQ: MSTR) used $ 250 million to buy Bitcoin. Pay Pal (NASDAQ: PYPL) announced in October this year that it would provide its users with bitcoin trading services. Since then, PayPal shares have also risen sharply. Grayscale Bitcoin was even established as early as 2013TrustRecently, the price of your Bitcoin trust stock has also constituted a high premium over the current Bitcoin price.
Why being recognized by major financial institutions has a great benefit for Bitcoin? Gu Yanxi analyzed that Bitcoin’s volatility was a hindrance to institutional purchases. As Bitcoin transactions continue to improve, such as the means of transaction,Trading floorSo,transaction mediumAnd so on, the possibility of speculative trading is reduced and the price of Bitcoin will be more stable.
China communicationindustryThe rotating chairman of the Association’s Blockchain Committee, Yu Jianing, told the media recently that the global field of digital asset trading will move towards integration, compliance and institutionalization, which is an irreversible trend. “Bitcoin and other digital assets are expected to become ‘new major assets’ in 2021.”
Bitcoin’s hedging properties may be better than gold
At the moment, Bitcoin has become a digital currency similar to gold and has become a hedging tool. Gold also created a bull market in the first half of the year, from its highest point since 2013, and Bitcoin and gold appear to show a positive correlation. But since the price of Bitcoin has recently risen for some time, gold and Bitcoin have “split”.
Jiang Han, Principal Investigator of the Pangu Think Tank, analyzed Times Finance. In the final analysis, it was due tosupplyLimited, it has made it possible to be a more risk averse asset than gold.
“Bitcoin is not issued by any country, but rather a virtual currency asset determined by a set of algorithms. Gold can also increase gold reserves and price fluctuations due to the discovery of new larger gold mines. However, As a very special digital asset, the amount of Bitcoin itself is absolutely limited. Especially after the two halves, the current mining efficiency of Bitcoin is very low. Therefore, it has changed to make money mining Bitcoin. It comes back every time more difficult “.
According to statistics, at US $ 27,000, the current BitcoinMarket valueStartCryptocurrencyThe proportion exceeds 70%. Yao Yuan introduced that some digital currencies are already “zombie currencies” and have no liquidity at all, but they represent a certain part of the total market value, and their transaction volume is extremely small. The market value of Bitcoin is estimated to be 70% higher than that of crypto currencies, and may even be higher. high.
Yao Yuan believes that Bitcoin is superior to other cryptocurrencies in that, “First of all, if the cryptocurrency is like a big tree, then Bitcoin is the root of this tree. All cryptocurrencies, including Ethereum, are based on Bitcoin. white paper idea. Second, the founder of Bitcoin did not earn a penny from Bitcoin. He left the community and gave the project back to the community. Third, the shortage of Bitcoin made its global purchasing power much higher performance. Fourth, its stability and possession of computing power and the user base of the entire network make the Bitcoin community extremely large. “
At present, the price of Bitcoin has reached a new high and investors should also pay attention to the risks. Gu Yanxi said the biggest risk is supervisory risk. If the US regulator initiates a lawsuit, it will have a greater impact on Bitcoin. But in the long term, Bitcoin will eventually adjust and still maintain an upward trend. Furthermore, some unsupported exchanges can also cause Bitcoin prices to be manipulated. If the main trading medium or trading platform crashes, Bitcoin will fluctuate sharply.
Yao Yuan also pointed out that the risk of Bitcoin is that people who don’t know much about Bitcoin are easily misled. If you lack a certain degree of psychological tolerance, or cannot insist on an investment of value, you cannot make money from the Bitcoin market. He also mentioned that some investors who use 10x and 20x leverage to “speculate” on Bitcoin, if they cannot control risk, they will lose 100% money and “will need to manage their risk exposure.”
(Article source: Times Finance)
(Responsible editor: DF524)
I solemnly declare: The purpose of this information disclosed by Oriental Fortune.com is to spread more information and has nothing to do with this booth.
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