$28000! Bitcoin soared 470% in the year

Original title: 28000 dollars! Bitcoin soared 470% during the year source: stock times.com Warren Buffet used to bombard bitcoin: it’s just an illusion. Just, this kind of illusion actually stimulates the nerve of market again and again! After bitcoin broke through $25000 / piece on the 26th, bitcoin continued to rise today, reaching a maximum of 28000 US dollars / piece (about 183000 yuan / piece), with a 24-hour increase of 13%. According to data from overseas platforms, the total market value of bitcoin has exceeded US $500 billion (about RMB 3.3 trillion), which is 1 trillion higher than that of Maotai in Guizhou (the latest market value is 2.3 trillion yuan). How much has bitcoin gone up in the last year? Just half a year ago, bitcoin just broke through $10000. Extending the timeline to this year, bitcoin prices have risen nearly 470% from the low of $4705 in March. Experts: how high is the market value of bitcoin? Today, bitcoin’s market value is close to that of JPMorgan and Citibank. Some netizens compare the current hot stocks in the A-share market: the market value of bitcoin is nearly 1 trillion higher than that of Guizhou Maotai, which is equivalent to 5 Hengrui pharmaceuticals and 20 Yunnan Baiyao. Even though bitcoin has such an amazing increase, Citibank has recently announced a target price of US $300000 / piece, which is 11 times higher than the current price. Tim Draper, a venture capitalist and founder of Dfj, said bitcoin would reach 10 times its current price by the end of 2022 or early 2023. Securities Times reporters interviewed several major domestic platforms, relevant people told reporters that the recent account opening situation is very popular. However, according to bybt.com, the exchange cleared more than $131 million worth of short betcoin futures contracts on the 26th. As long as the derivatives market continues to be bullish, more short positions will be closed in the near future. Looking back on bitcoin’s recent collapse, investors are thrilled. On November 26 this year, bitcoin suffered a flash crash, falling nearly $3000 to $16227. This time the bitcoin price slump has also led to a large explosion of leveraged traders. Market sources pointed out that traders who borrowed money to buy bitcoin within one hour of the day sold $367 million, and 77113 people were victims within 24 hours. Xu Tong, a senior analyst at the fire currency Research Institute, reminds that the current breakthrough does not mean that the market will continue to rise all the way. Investors should pay attention to the high volatility in the future market and do a good job in risk control and reasonable operation. Compared with retail investors, this round of bitcoin’s rise differs from previous rounds in that more and more mainstream institutions on Wall Street are joining in. Under the policy environment of quantitative easing, institutional funds are entering the field of cryptocurrency, boosting the bull market of bitcoin. Kit jurkes, foreign exchange strategist at SocGen FX, believes that bitcoin, unlike the tulip bubble, is not a speculative activity, but has become increasingly financialized and monetized. And even now, most institutions are still buying and holding bitcoin. Prior to that, standard & Poor’s Dow Jones index announced that it would launch the cryptocurrency index in 2021, which is another important progress in the mainstream of bitcoin and related crypto assets. In fact, not only in 2020, but also in the past decade, bitcoin has been one of the best performing assets in the industry. However, the price of bitcoin has broken through continuously, but people are still arguing about the intrinsic value of cryptocurrency. Max Keizer, a Wall Street financial analyst and bitcoin supporter, said he firmly believed that ray Dalio and Tesla founder musk would invest in bitcoin sooner or later. He believes ray Dalio will invest 10% to 20% of his portfolio in bitcoin in the next few months. Recently, musk asked a prominent digital currency advocate about the possibility of converting “big deals” on Tesla’s balance sheet into bitcoin. The exchange between the two excited the cryptocurrency circle. Michael Saylor, MicroStrategy’s chief executive, has publicly advised musk to convert dollars into bitcoins. Bitcoin has always been regarded as digital gold, and there has been a lot of talk about the cryptocurrency replacing gold recently. In the view of Goldman Sachs, bitcoin is only retail inflation trade, while gold is a defensive asset with long-term real capital preservation. Goldman Sachs has not yet observed evidence that bitcoin is eroding the gold bull market and believes the two can coexist. Rubini, a well-known economist known as “Dr. doomsday”, believes that bitcoin and other cryptocurrencies known as “sh tcoins” have no intrinsic value and should not appear in the portfolio of retail investors or institutional investors. He stressed that the growth of bitcoin is speculative and self fulfilling, and this growth is completely driven by the manipulation of “market tycoons”. Bitcoin is close to the time when the giant bubble burst.

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