Bitcoin is the best New Year gift for holders

Fx168 financial news (North America) on Thursday (December 31), bitcoin continued to set new record highs, and finally reached $29000 in the overnight market. It reached a high of $29280.05 at one time and then fell back. So far, the price of bitcoin has risen by more than 300%, and there is no doubt that the vision of the holders of this cryptocurrency is $30000. But in any case, this year will be the most unforgettable year in bitcoin’s history. (source: coindesk) Denis Vinokourov, head of research at bequant, a London based brokerage, told coindesk earlier: “if the expected retail flow becomes a reality, I expect bitcoin prices to exceed $30000 in the new year.” On the one hand, the rise of bitcoin this year is driven by large institutional investors including paypal and square. On the other hand, as the end of the year approaches, some fund managers may also be buying bitcoin, so that they can boast that they are smart enough to enter the bitcoin market in 2020, but ignore the price of doing so. This is called “whitewashing” on Wall Street. In addition, the Federal Reserve and other central banks have been printing money wantonly, trying to avoid the worst impact of the epidemic on the economy. At the same time, trump has been urging Congress to allow larger stimulus checks. These moves are seen by many as a potential catalyst for inflation and are bad for the dollar, both of which may be better than the special currency. According to data from digital assets data, an online analysis resource, December 2020 has already stimulated the second largest trading volume of bitcoin. In the remaining 24 hours of December, total trading volume reached US $252.37 billion, which is likely to rise further and match the box office in December 2017. (source: digital assets data) and on Wednesday, the number of whale entities (a cluster of encrypted wallet addresses held by an Internet participant holding at least 1000 bitcoin) rose to a new high of 1994. According to glassnode, the peak of 1969 previously reached in 2016 was exceeded on December 18. The index is up more than 16% this year, up 7.3% in the current quarter alone. (source: glassnode), co-founder and managing partner of keneti capital, a Hong Kong trading company, said: “we have just entered a rare whale spawning season, with ultra-high net worth and institutions aware of the last call to build a large number of bitcoin stores.” “The last land grab has begun, and by this time next year, it will be almost impossible for most people to accumulate more than 1000 bitcoins.” The sharp rise in the number of whale entities confirms the popular view that the increase in large investor participation has driven the rise of this cryptocurrency. “The key to this rally is that it has been going on for weeks,” said Matt long, head of distribution and quality products at OSL, a cryptocurrency brokerage “If we do see a downward breakthrough, then whether institutional investors will continue to buy when there is a potential decline will have guiding significance for the direction of capital flow in the first quarter.” “I think a lot of things are working, including the role of bitcoin in finance and value storage,” said Vijay ayyar, head of business development at luno, Singapore’s cryptocurrency exchange “Bitcoin is the real choice now.” The growing acceptance of bitcoin may help pave the way for bitcoin exchange traded funds and open the door to new investors. Vaneck associates Corp. has launched a new round of push to launch an ETF that tracks bitcoin, the world’s largest digital currency, according to a paper submitted to the U.S. Securities and Exchange Commission on Wednesday. The Vaneck bitcoin trust will reflect the performance of the MVIs cryptocompare bitcoin benchmark rate. Proofread by: Charlotte

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