1 yuan becomes 12 million in 10 years! Bitcoin broke through 30000 US dollars, and some organizations estimated that the currency price could reach 400000 US dollars

On the evening of January 2, the price of bitcoin exceeded 30000 US dollars, that is, each bitcoin exceeded 200000 yuan for the first time. According to the global asset market value ranking, bitcoin’s market value has surpassed TSMC, ranking ninth in the world with a market value of $570 billion, slightly lower than Alibaba, which ranks eighth. Hong shuning, a blockchain expert who once worked in the people’s Bank of China, said on January 2 that it took less than a month to reach a new level and break through $30000, which fully demonstrated the strong confidence of the market. The short capital has completely lost its resistance and the future is limitless. Bitcoin has also benefited many equity investors, with the share price of bitcoin mining company bit digital, a US listed mining company, up 53 times in the past year as its price continues to rise. Some Wall Street analysts even believe that bitcoin prices may reach $400000, but the soaring trend may pause in early 2021. Although bitcoin prices are still quite bullish in the medium term, the current round of bitcoin market is likely to peak in early January 2021. A bitcoin is equivalent to 207000 yuan. Since the bitcoin broke through $20000, the price of bitcoin has been hitting new highs. Throughout 2020, the price of bitcoin has increased by three times. In the first two trading days of 2021, the price of bitcoin continues to soar, breaking through $30000 on the evening of January 2. The price of each bitcoin reaches $31726, equivalent to about 20 710000 yuan. If we lengthen the time line, the price increase of bitcoin has exceeded the record 12 million times in the past 10 years, calculated from about US $0.0025 corresponding to the first price generated in 2010 after the birth of bitcoin in 2009, as of January 2, 2021. In other words, 61.3 bitcoins could be purchased with an investment of 1 yuan at the beginning, which has been appreciated to more than 12 million yuan. At present, the market value of bitcoin has reached 3.85 trillion yuan (590 billion US dollars), which is an amazing number, which means that the market value of bitcoin can surpass others in the A-share market. In terms of global asset market ranking, the market value of bitcoin has risen to No.9 by 22:00 p.m. on January 2, 2021, surpassing TSMC. TSMC’s market value is now reported at 565.4 billion US dollars, Alibaba At present, the market value of bitcoin is 629.6 billion US dollars, ranking the eighth. That is to say, the market value of bitcoin is slightly lower than that of Alibaba. The price performance of bitcoin fully demonstrates the “core asset” emphasized in the stock value investment, which has been transplanted to the cryptocurrency market by institutional investors. Just like A-share, Hong Kong stock market and US stock market, many small market value fairy stocks are not attracted in the profit-making market. Although bitcoin has been rising continuously, more than 90% of the digital currency in the cryptocurrency market lacks fund attention. The “core asset” that institutional funds continue to focus on is popular bitcoin, which leads to the market value of bitcoin accounting for the total market value of cryptocurrency in the world Up to 71%. On January 2, Hong shuning, a blockchain expert who once worked for the people’s Bank of China, said on his micro blog that the first stage of the bull market started in February 2019, which was suppressed for a long time by the selling of plustoken. After it started again in early 2020, it was seriously affected by the epidemic situation, and ended with a sharp drop of 312. This stage is characterized by twists and turns. In the second stage, from March 2020, the price limit has been rising all the way, reaching a new high and breaking through 20000 US dollars by the end of the year, confirming the formal arrival of the bull market, but the future direction is still unclear. The mark of the third stage is that it takes less than one month to reach a new level and break through 30000 US dollars, which fully demonstrates the strong confidence of the market, and bears completely lose their resistance. There is no limit to the future. This stage will end with a rapid inflation bubble, and also announce the end of the current round of bull market. The next round of bull market will be launched after the market recovers for a period of time and accumulates enough energy. At the beginning of 2021, bitcoin is still at an all-time high, said Daisy, a senior analyst at the firecoin Institute. At present, it is still the initial stage of opening the halving market. The supply factor of halving the long-term output is becoming stronger and stronger. From quantitative change to qualitative change, the pace of admission of institutions is orderly. With the outbreak again, the logic of dollar weakness still exists. In addition, recently, the SEC of the United States began to strengthen its supervision and made a strong attack on REBO. Ruibo is facing a large-scale delisting. The investors of Ruibo may transfer the problem assets to the high-quality assets, so bitcoin gets more demand, which is one of the reasons why bitcoin price is still pushed up. The strengthening of supervision this time reflects the significance of decentralization, which has a very positive impact on the special currency. U.S. stock companies rely on bitcoin to soar 53 times a year, and bitcoin’s bull market has also led to a strong rise in related stocks. Chinese correspondents from securities companies have noted that the share price of bit digital (NASDAQ: BTBT) has risen 53 times in the past 12 months. Bit digital, a NASDAQ listed company focusing on bitcoin mining, has become one of the biggest winners in the U.S. stock market in 2020, corresponding to a 53 fold increase in share prices. In the same period, the S & P 500 and the Nasdaq have only increased by 15.5% and 43.4% this year. Just five days ago, bit digital disclosed its financial report for the first three quarters of 2020. According to the financial report, as of September 30, 2020, the company had operated 22869 mining machines, including 16964 new machines in the third quarter and 814.23 bitcoin output, of which 739.51 were added in the third quarter. The company generated $8600000 in revenue in the first three quarters, of which $7910000 was in the third quarter. Due to the continuous improvement of operating capacity and the apportionment of fixed expenses such as personnel management, the company realized a profit of $100239 in the third quarter without considering the business terminated. In the overall consideration, the company still achieved balance in the third quarter. As of the publication date, due to the signing and implementation of more mining machinery acquisition agreements and the overall favorable environment, the company’s subsequent computing power and profitability will be greatly improved. In addition, marathon patent group, an intellectual property and patent holding company listed in the US stock market, has seen its share price rise continuously in recent years, making its share price rise 10 times in the whole year. In order to further stimulate the stock price, marathon patent group announced on December 28, 2020 that it would buy 70000 s-19 ant mining machines equipped with ASIC chips from Chinese miner bitmain at a sky high price of US $170 million. The company expects that the order will be delivered by the end of next year, when the total number of mining machines will exceed 100000. However, bitcoin’s short-term rise is too large, and with the help of follow-up funds, bitcoin may have a short-term correction. Some Wall Street analysts believe that bitcoin’s soaring trend may be suspended in early 2021, and there will be opportunities to buy on bargain. Given that bitcoin has just hit a record high, it is still quite bullish in the medium term. In the short term, the cyclical composite index shows that bitcoin will peak in early January. Compared with the long-term price of bitcoin, more and more funds believe that bitcoin’s constant characteristics make it unable to be continuously supplied, which is similar to gold. Even considering that gold resources are still continuously discovered, the total amount of 21 million bitcoin means that the price of bitcoin will be more scarce. Scott minerd, chief investment officer of Wall Street giant Guggenheim partners, said his company’s fundamental analysis showed that bitcoin should be worth $400000. According to minerd, the price target is based on the scarcity of the asset and its relative value relative to gold. Previously, it was reported that the $5 billion Guggenheim macro Opportunity Fund applied to the US SEC to invest in gray bitcoin trust or allocate $530 million in bitcoin. Source: securities companies, China

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