Tesla, an electric vehicle benchmark, and investment banks have successively invested in bitcoin, making bitcoin a crypto digital asset hot. The price has broken through $52000 per piece. However, in the eyes of long-term bulls, the rise has not even gone one third of the way. Todd Gordon, founder of tradinganalysis.com, said the resistance level for the next big correction is $170000. Bitcoin once fell below $46000 after it failed to close the $50000 barrier on Monday (15th). At that time, some people thought that $50000 was the resistance level, but within two days, bitcoin broke through and stood at the $50000 barrier. “We are seeing more and more companies and institutional investors coming into the market, so anything is possible,” Gordon said. I don’t want to be too optimistic, just a simple technical analysis. You won’t see resistance until around $170000. 」 In this wave of rise, many analysts believe that the decentralization and encryption features of bitcoin make it easy to exchange some currencies that are difficult to exchange in the normal exchange market, especially those that have been sanctioned or restrained by the United States, such as the ruble and the real; in addition, bitcoin plays a role similar to gold in the 1970s, with its limited and deflationary characteristics, and can be used as a safe haven asset. “The total market value of bitcoin is about $1 trillion, and gold is about $10.5 trillion. You know how much room bitcoin has to go up,” he said. MicroStrategy, which specializes in business information technology and cloud services and has a stock price of more than $940, also announced on Wednesday (17th) that it would expand the scale of the planned convertible stock bonds from $690 million to $900 million, and would use the proceeds of the additional bond issue of about $879 million to buy bitcoin. According to the data of the trading platform coindesk, bitcoin peaked at $52621.84 in the past 24 hours, up 6.01% or $2969.9. The price of bitcoin is $52436.95 at 8:15 am on the 18th.