[ad_1]
Daily economic news
2021-01-04 22:56:44
Every time reporter Pantene, every time editor Duan Lian
In early 2021, the price of Bitcoin left the roller coaster market, setting a record drop after hitting a new high of $ 33,000. Data shows that at 3 p.m. on January 4 Beijing time, Bitcoin began to plummet from about US $ 33,000 and fell by more than US $ 5,000 in 3 hours. This is the first time in history that it fell to 28,101 US dollars. At press time, the price of Bitcoin has recovered to $ 31,796.22.
Image source: no small website
“The market deceived me.” Some investors posted comments online.
After 20 days of crafting, Bitcoin climbed from 18,000 all the way, with almost no correction, and climbed steadily until it surpassed the $ 30,000 mark. However, happiness comes and goes quickly, and the collapse in prices caused market turmoil. From 2010 to the present, the Bitcoin roller coaster market has left countless investors losing their money.
Long Dian, the founder of Huoxun Finance, told reporters: The price of Bitcoin is unlikely to be in a continuous upward phase. You have entered a lateral cycle and may still be in a lateral phase. In the long term, the general trend of Bitcoin’s price increase has just started and the $ 30,000 pullback has little effect. From a professional point of view, he predicts that the price of Bitcoin will rise subsequently. “As for when it will hit a relatively high point, we predict that it should be June and July next year when the whole market will start to go down.”
Bitcoin price is as low as $ 28,108 in 24 hours
Not small data shows that as of 9:00 p.m. on January 4, the recent rising Bitcoin plunged all the way down and fell one after another. It once fell below $ 30,000, with a 24-hour low of $ 28,108 per coin, which is almost $ 6,000 from the 24-hour high. .
David Rosenberg, former US chief economist at Bank of America Merrill Lynch, known as a Wall Street prophet, warned investors in a recent media interview: “Bitcoin has come out of a parabolic trend in such a short time. These securities assets are very abnormal. ” He believes that Bitcoin is currently the largest bubble in the market.
Why has this round of bitcoin skyrocketed and plummeted? Huoxun Finance founder Long Dian told reporters: The price of Bitcoin cannot be in a phase of continuous increase. You have entered a lateral cycle and may still be in a lateral phase. This Bitcoin price fluctuation cannot really be called a dip, because today’s maximum retracement rate is 13%, which is within the normal retracement rate range. The previous surge in the market prompted a large number of investors to follow, with some institutions and retail investors wanting to ditch after making a profit. In the long term, the general trend of increasing the price of Bitcoin has just started. Compared to the $ 4,000 daily surge a few days ago, today’s $ 5,000 retracement has little effect. From a long-term perspective, the price of Bitcoin will continue to climb. As for when it will reach a relatively high point, we forecast that it will be in June and July next year, in this process it is inevitable that the market will fluctuate up and down.
Yu Jianing, rotating chairman of the Blockchain Committee of the China Communications Industry Association and president of Huobi University, told reporters: Since the birth of Bitcoin, price fluctuations have been relatively severe, and generally , has experienced two major fluctuations. It was once in November 2013 when the price of Bitcoin reached almost $ 1,000, but in September 2015, it fell to a low of $ 200; the other time was in March 2017 when the price of Bitcoin surpassed the price of an ounce of gold for the first time. In December of that year, it hit a record $ 19,875 and then entered a nearly three-year low. At the end of 2018, the price was as low as $ 3,000.
Yu Jianing said that the large fluctuations in the price of Bitcoin are actually due to the fact that digital assets like Bitcoin have been highly financialized, forming a relatively complete financial system. Although it is not as large as the traditional financial market, the financial tools and financial innovation in it are relatively comprehensive. “The sparrow is small, but it has all five internal organs.”
Public information shows that Bitcoin is open source software designed and released according to the ideas of Satoshi Nakamoto and a P2P network built on it. Point-to-point transmission means a decentralized payment system. It was originally proposed by Satoshi Nakamoto in 2008 and was officially born on January 3, 2009.
Digital finance itself is a double-edged sword, investors need to be particularly cautious
It is worth mentioning that the recent selloff of Bitcoin futures has occurred from time to time. According to the latest data from the Bitcoin Home Network, in the last 24 hours, the entire network has settled $ 590 million in 1 hour, or about 3,802 million yuan, and has settled $ 1.462 million in 24 hours, or around 9.422 million yuan. 104719 people.
In response to this phenomenon, Long Dian told reporters: The rapidly rising market has exceeded the expectations of many people. After breaking the US $ 30,000 point, the market has entered a dangerous area. According to the current market situation, it is easy to take advantage of large proportions. Settlement. In tonight’s decline, the settlement amount of a cryptocurrency exchange reached 190 million US dollars. The cryptocurrency market is still fraught with risk. Investors should be especially careful not to use leverage or contracts. There is the risk of liquidation at any time.
Yu Jianing told reporters: “We believe that all financial derivatives are designed to allow everyone to control risks, allocate positions reasonably, and even generate risk returns, or hedging, to hedge risks, rather than simply strengthening risks. . Increase the leverage ”. Digital finance itself is a double-edged sword. On the one hand, they attract investors of different types and different risk preferences to participate in this market; on the other hand, it will also make some investors who do not understand or operate improperly face more increased risks and losses.
Cover Image Source: Photograph.com
