Bitcoin continues to hit a new high of $29150. Will this boom last until 2022?

In 2020, bitcoin is an ongoing carnival. According to the data collected by klip C, bitcoin has broken through the $29000 mark in the morning of the 31st, setting a new record. “Bitcoin, which hit a bottom of $4600 in March, has risen more than 500% in the next eight months, which is astonishing,” said andI Duan of klip C. Now most institutions say bitcoin could rise to $45000 by the end of 2021. Of course, there are a few individual investors who think bitcoin will rise to more exaggerated figures, such as more than $200000. “ Despite this rapid growth, the rise in bitcoin has also led to serious polarization, with us business tycoon Warren Buffet often criticizing bitcoin, claiming that all cryptocurrencies, including bitcoin, are worthless. But as a proponent of bitcoin (MicroStrategy’s CEO), Saylor has invested more than $1.3 billion in bitcoin, and believes that bitcoin will change the world just like Facebook, youtube and Amazon. However, the market is still optimistic about the trend of bitcoin next year. Analysts at klip C said that the biggest difference between the big rise of bitcoin this time and that of 2017 is that institutional investors enter the market, and many investors choose to hold it for a long time. “This scarcity is also driving up the price, given the fact that there is only 21 million bitcoin and there is another wave of demand picking up,” he added Bitcoin’s rapid rise has attracted many investors. However, according to the data collected by klip C, in the past 24 hours, there were 30550 people’s 268 million dollar positions in digital currency, including 204 million dollars in bitcoin. It is worth noting that in the 24-hour bitcoin long short ratio of the whole network exchange, multiple parties slightly occupy a certain advantage. In this regard, Philip nucci, risk manager of klip C, pointed out that whether bitcoin will eventually become a bubble depends on the changing trend of external demand for it. This unpredictability makes the investment in bitcoin and bitcoin mining become a high risk. This kind of investment is not a financing method suitable for everyone.

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