Bitcoin soared 27000, can it continue to rise?

There are three things worth talking about this weekend. We will say tomorrow about Ali’s investigation. I’ve written it. Remember to see it. The domestic epidemic does not seem to have any impact on the capital market. The global epidemic may fluctuate in the short term, but the general trend should be better and better, at least emotionally. I think the most important thing is the bitcoin boom. Bitcoin’s price has broken through 27000 dollars. You can see the steep increase of bitcoin in the past month, which is very frightening. Some people say it’s because of risk aversion. Bitcoin is now a completely risky asset, not a safe haven asset. If strictly defined, bitcoin is a commodity, neither an asset nor a currency. Because assets don’t go up and down, and money doesn’t. Once you connect bitcoin to goods, it seems that everything is going to be traceable. This year’s commodities should be a bull market. But then again, who is not a bull market. The U.S. stock market is a bull market, and the A-share market is also a bull market this year. I mentioned the continuity of bitcoin market and the conjecture of commodities in the knowledge planet before. Why bitcoin has risen so much. Because a lot of people don’t have bitcoin yet. Because there is no legal channel to trade bitcoin in China. Because you don’t have bitcoin. So let’s go back to gold. If bitcoin still has a chance to become money, gold will never become money. However, there is only one potential negative for gold at present, that is, the global central banks headed by the Federal Reserve began to shrink their balance sheets. Gold, on the other hand, has many advantages. Commodity prices are undervalued, and investors will shift from expensive equity assets to cheap commodities. The supply of gold has been declining in essence, but the demand has not weakened. The imbalance between supply and demand has strongly supported the price of gold. The annual output growth rate of gold is about 2% a year, which is far less than the amount of sovereign currency issued by various countries, let alone the 40% issued by the Federal Reserve this year. As for big a, it has a very high correlation with bitcoin recently. Maybe leeks are excited to see BTC rise.

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