Bitcoin stands at the 50000 mark. Is the price peak coming? Continue to hold positions or lock in profits?

Bitcoin stands at $50000. Today, bitcoin broke a new high again, with the highest rising to $52619.9. This is the third consecutive day that bitcoin stood at $50000 and broke through a new high. At this point, bitcoin stands at the $50000 level! The breakthrough of 50000 resistance level is of great significance for the further development of the bull market and the opening of a new bull market stage. Influenced by the rising trend of bitcoin exceeding 50000 yuan, the cryptocurrency market rose in an all-round way. According to the data of okex market, 94 of the top 100 tokens with market value rose and nearly 6 fell. Among them, ETH, driven by the rise of BTC, also set a new record, with a maximum of $1917.81 and a 24-hour amplitude of 6.54%. BTC and eth have reached a record high at the same time, which has increased the market heat and led to an all-round rise both inside and outside the industry: the concepts of cryptocurrency such as defi, DEX, platform currency, liquidity mining and so on almost all rose, and the growth rate of hot sectors was almost more than 10%. As of 10:00 on February 18, the index of digital currency plate index was 940.18 points, up 6%, and the turnover rate was 1.00%. Among the plate stocks, the top five stocks with the largest increase were Sifang Jingchuang at 18.50 yuan, up 15.84%, Feitian Chengxin at 17.53 yuan, up 10.25%, radio and TV express at 9.86 yuan, up 10.04%, zhidu stock at 5.09 yuan, up 9.94%, Kunlun wanwei newspaper at 23.01 yuan, up 8.95%. With the overall rise of the market, cryptocurrency bull market began to move in a better direction, driving the formation of a new bull market. At present, cryptocurrency has been rising from the rotation of the plate to the current all-round rise. Mainstream currency, Shanzhai currency and innovation currency are constantly reaching a new high or 10 times a hundred times. The crazy development of the market situation has brought increased risk, many investors have begun to gradually reduce positions to lock in the operation of profit. However, from the news level, although the current market trend is crazy, there is no sign of reaching the top. The encouraging trend at the news level is still very strong, especially from the current situation and trend of the traditional economy, and the large-scale increase of the investment scale of the contrast special currency with the mainstream institutions. Especially after Tesla’s $1.5 billion investment in bitcoin has triggered a new round of investment boom in mainstream institutions, this new round of rising market may have made Tesla make a lot of news of $600 million, and refresh the mainstream society’s new attention and upsurge compared with bitcoin! Last week, Tesla announced a change in its investment policy and began to increase its holdings of cryptocurrency and gold, including a $1.5 billion bitcoin investment. Tesla did not disclose the number of bitcoin it bought or the average price it bought. But the average bitcoin price in January was around $35000, which means Tesla should have about 43000 bitcoins. Bitcoin prices have risen 45% since last month, 15% of which came after Tesla announced its investment in bitcoin. Currently, bitcoin is trading at close to $52000, which means Tesla’s bitcoin may now be worth as much as $2.2 billion, and it may have earned more than $600 million in unrealized gains from this investment. Profit effect is always the highest CX means. The high profit effect realized by Tesla in such a short time has set off a new hot spot in the mainstream society: according to the microblog hot search data, “Tesla’s investment in bitcoin may have earned more than $600 million” has been on the microblog hot search list, ranking 43rd. According to this, many people in the industry believe that this bitcoin expansion is coming! What’s next for bitcoin? As bitcoin and other cryptocurrencies have reached new highs, the bull market has reached a new high again. With BTC’s basic profit of 1.5 times of the previous peak, the bull market of cryptocurrency has gradually pushed to a new peak, and the risk is also increasing. However, the bull market only entered the middle stage of development, not the end! There is still a lot of room to look forward to. This judgment can be based on two aspects: first, from the perspective of the development status of the traditional economic situation: on Wednesday, US Eastern time, the Federal Reserve FOMC released the minutes of the January monetary policy meeting. Fed officials believed that the US economy was “far from” reaching the target, and reiterated that it would maintain loose policies. Powell and others stressed that they would not raise interest rates to prevent inflation, but would wait for real price pressure to emerge before tightening policy. Economic easing policy means that inflation pressure will continue to increase, and bitcoin, as a constant volume (21 million pieces), can perfectly fight against inflation, so as to obtain a more stable hedge property. This feature will bring good market demand for bitcoin to fight against inflation, thus promoting the continuous development of bitcoin market. Bitcoin and high-quality cryptocurrency will further enter the vision of mainstream investment, expand the purchasing power, and promote the new rise of the market. 2、 According to the information released by the known mainstream institutions on investment in bitcoin: at present, the investment pace of mainstream institutions is increasing. MIHA grar, business development director of Kraken, crypto exchange, told decrypt: “the recent rebound proves that enterprises and institutions have enough confidence to allocate a lot of capital to bitcoin, positioning bitcoin as a new investable asset Vertical field. ” “I think bitcoin will eventually become the global reserve currency,” says Anthony pompliano, co-founder and partner of Morgan Creek digital assets, a cryptocurrency hedge fund. I think bitcoin will eventually be much bigger than the market value of gold. ” MicroStrategy, a business intelligence firm, announced on Tuesday that it plans to raise another $690 million in the form of priority convertible bonds to buy more bitcoin. MicroStrategy started buying bitcoin in August 2020. The company currently has 71079 bitcoin, worth about $3.5 billion at current prices. Michael Saylor, MicroStrategy’s chief executive, said in a recent interview with the block that bitcoin was “the best money ever created.”. Rick Rieder, chief investment officer of BlackRock financial management, said BlackRock, which manages more than $8.6 trillion in assets, had “started to dabble” in cryptocurrency investment. More and more mainstream institutions and enterprises have begun or expanded their investment in TCD. Traditional financial institutions such as Goldman Sachs, ICAP, JPMorgan Chase and UBS have already set foot in cryptocurrency. JPMorgan said the market value of bitcoin has increased by about $700bn in the past five months, although total institutional inflows were only about $11bn. But limited token supply and large retail demand will push up prices. 3、 From the performance of the chain data: 1. The average MVRV index of BTC is lower than that of the 17-year bull market: according to statistics, the average MVRV index of BTC is about 4.7 from December 17 to January 18, and the average MVRV index of BTC from December 20 to January 21 is about 3.8. In the case of higher currency price increase in this round of bull market, not only the average value of MVRV is lower, but also the peak value is lower 79, lower than 4. 72 during the last bull market. 2. According to statistics, free circulation of BTC accounted for 83.33% of the total supply on average during the period from December 17 to January 18, while the value dropped to 78.10% from December 20 to January 21. This means that the liquidity of BTC has decreased during this bull market. It can be speculated that the decrease of free circulation BTC may be related to the increase of long-term currency holding of companies (Institutions) and the increase of token quantity restricted by individual investors due to mortgage. Not only the liquidity of BTC has been reduced, but also the chip distribution of BTC is more dispersed during this bull market. According to statistics, during the period from December 17 to January 18, the average proportion of the total amount of currency held by the top 100 addresses in the total supply was about 17.82%, and the highest proportion was about 18.68%. However, during the period from December 20 to January 21, the average proportion of the total amount of currency held by the top 100 addresses in the total supply decreased to 13.41%, about 4.4 percentage points lower than that during the last bull market, and the chip dispersion was further strengthened. 3. The number of transactions on the chain decreased compared with that in 17 years, and the active address remained unchanged: from the number of transactions on the chain, the data during the two rounds of bull market were basically the same. During the period from December 17 to January 18, the average daily number of transactions on the chain of bitcoin was about 323400, and the maximum number of daily transactions reached 498100. In addition, there were seven days for more than 400000 transactions per day. During the period from December 20 to January 21, the daily average number of transactions on the chain of bitcoin decreased slightly to 319300, and the maximum number of daily transactions was only 402100, which was lower than the data during the last bull market, but it was still the same as the active addresses on the chain, which was basically the same. 4. According to statistics, from December 17 to January 18, there were 5.3993 million tweets with the topic of “bitcoin” on twitter, with an average of 87100, and the maximum number of tweets per day was about 155600. Moreover, the change in the number of tweets and the trend of currency price basically lasted from December 20 to January 21 There were 4.426 million tweets on the topic of “oin”, with an average daily number of 71000. The total number of tweets decreased by 18.46% compared with the previous bull market. From the search index of “bitcoin” keyword in Google, the average daily search index from December 17 to January 18 is about 233.8, with a peak value of 616.9. From December 20 to January 21, the average daily search index was about 150.8, with a peak value of 363.6, and the average daily search index decreased by about 35.50%. According to the above data, we can see that, on the one hand, although the current bull market price has constantly broken through new highs, the consensus on the high price is far from being reached. Market participants in this round of bull market can tolerate a higher price consensus. On the other hand, the participants and main drivers of this bull market are not from the general public, and retail investors are generally considered to be the bull market climax Moreover, the current data on multiple necklaces did not reach the peak of the 17 year bull market. Therefore, we believe that BTC still has room to rise. At present, there is still a distance from the top of the bull market. The bull market is still in progress. Moreover, we can be sure that the duration of this round of bull market will be far longer than that of the previous round.

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