Bitcoin: ten years from the temptation to crazy from faith to panic

Source: the Economic Observer

“Panic from the insane.” In January 10th, investor Zhu Wei told reporters the case described his bitcoin investment mentality changes.

Zhu Wei just bitcoin to investors in ten years, a number of millions of investors in the.

In 2008 2009 at the beginning of the birth of bitcoin, bitcoin investors began to be recognized and trading, since the price from less than one cents a rose in December 17, 2017 rose highest reach $19666, equivalent to nearly 140 thousand yuan, frightful to the ear.

At the time of the bitcoin market, so many people think up in early 1630s, a tulip Holland flower root price up to 6700 Holland shield, can buy a house near Amsterdam ship canal.

History is always surprisingly similar. A speculative product increases the need for a long time, the decline is likely just a moment, “fate” from the “bubble”. In early 2019, a bitcoin price less than $4000, the highest peak distance has fallen over 80%.

Over the past ten years, similar to the “big screen” at the beginning of Xie, like the sea calm at the beginning of the complex. Whether it is “panic” bitcoin altar, or the future of bitcoin value have “faith”, or is looking forward to returning to bitcoin rational investment, a bit of market participants, to really understand the taste of bitcoin market ups and downs, and well-being of ten years.

From crazy to panic

2018 at the beginning of the year, Zhu Wei was a famous Beijing xi’erqi Internet Co, at the time, he went to work every day is a backpack, busy but full. But in 2017, bitcoin prices all the way up to his heart more than ready to. Moreover, investors who have heard of “rich coin circle during the work, feel the raging torrent and rich currency circle.” Zhu Wei said.

In January 2018, Zhu Wei to each over $16000 to buy coins — he did not want to miss this “rich torrent”. However, he did not know, bitcoin prices have gone from $19666 per start “turned down”.

Because of work reasons, as early as the beginning of the fourth quarter of 2017, Zhu Wei often and coin circle of practitioners and practitioners of the circle itself deeply money wage gap. Then, in the spring of 2018, he bitcoin investment, while also engaged in coin circle, joined a large domestic digital currency exchange, the salary of over 3 times.

However, good times don’t last long. Then, bitcoin prices continue to fall to $12000 each. Zhu Wei not only investment bitcoin lost a lot of money, and actually engage in the ring after he saw coins, Coin Ring gorgeous under the “veil” on the other side — although the top of the high salary, but he is not the ordinary superior, but feel a deep fear.

Join the currency circle after work, Zhu Weicai found the coin ring practitioners many people have overnight dragons and fishes jumbled together, mentality. Moreover, although the company in 2017 when the bull market of digital money earned pours, but in 2018, along with other digital currency bitcoin prices began to decline, the company management has gradually become out of order. More importantly, a lot of money ring tokens various rub concept of “block chain technology”, “hang the blockchain trying to sell virtual currency to the dog”.

Back in September 4, 2017, China people’s Bank and other seven ministries “by the financing of the main qualitative token illegal sale, circulation, to investors to raise bitcoin currency, Ethernet of the so-called” virtual currency “is essentially a kind of unauthorized illegal public financing behavior, suspected of illegal sale promissory notes, illegal fund-raising, illegal issuance of securities and financial MLM fraud, and other illegal and criminal activities.”

Because of policy reasons, Zhu Wei also worried that the company may have the risk of collapse of shut down, and even fear that companies face legal sanctions.

In 2018 September, bitcoin prices at $7000 each, Zhu Wei early buy bitcoin has a loss of over 50%. 9 in the same month, although he is still lingering in currency circle high salary, but do not agree with this industry, or leave the coin ring, re joined an internet financial company.

In January 10, 2019, Zhu Wei in early 2018 to buy bitcoins, now fell to nearly 75%. For bitcoin investment, from the “Crazy” to “panic”, he only one year.

Zhu Wei said: “I hope to rise a bit less loss to sell.”

“Investors sleepless”

Also experienced a slump in 2018 bitcoin currency circle of institutional investors Zhang Feng, Zhu Wei is not so pessimistic.

Zhang Feng prefers an analysis of investment products from the capital market point of view, he felt in 2019 2018, bitcoin in a bear market, after a period, did not begin “bubble” burst.

Zhang Feng to join the bitcoin transaction is 2013, when a bitcoin price is only a few hundred dollars. In the eyes of Zhang Feng, bitcoin prices from the end of 2013 reached a high point, and then from the beginning of 2014 the whole year of 2015 fell sideways, 2016 price rise, but also to a Daniel 2017 outbreak in 2018 and a cut. He is at the bottom of the shock 2019 will be a year of 2020, there will be an upward correction. He is still full of confidence, unaffected bitcoin prices fell.

He recalls, although bitcoin prices fell by over 80% in 2018, fell by 90% over the majority of other copycat coins, some even disappeared. But in August 2017 he was investing in a currency, in the currency issued to each subscription price of 0.5 yuan, to December, the currency market, earning his own dozens of times. His idea is that if the investment this year did not earn 30 times, all feel shy said his investment currency circle. Although their overall 2018 is losing money, but Zhang Feng still insists that the upward economic cycle bitcoin will come again. Because he believes bitcoin blockchain is based on the technology, the distributed accounting theory is valuable, the future will have more applications in finance, games, information technology and other industries.

In 2019 Zhang Feng to invest in bitcoin or other digital currency, he still want to profit in this market. For him, “bound to sleep”.

“Rational regression”

Bitcoin has experienced this round of bearish market, investors will be more rational.” Senior digital currency analyst Xiao Lei think so. As a bitcoin price 10 years experience, Xiao Lei felt a lesson is not easily won. First of all, investors do not like 2017 2019 closed eyes to blind investment; secondly, many investors are aware of, make rational investment or decentralized investment is very important, no matter what kind of investment mode, excess profits can not be sustained; investment profit is the premise to withdraw in “bubble” before the burst, it is the “fishing”, but many investors are difficult to predict.

Because bitcoin investment market in 90 accounted for a large number of. Xiao Lei felt that the CBBC market has great significance to the conversion of education investors, many young people have such a “bubble” at a young age, for their future investment or help.

Before 2018 many tokens is the name of the block chain technology “signs”, at the beginning of 2019, block chain technology supervision policy formally introduced.

In January 11th, the national Internet Information Office issued the provisions of the “block chain service management information” (hereinafter referred to as the “Regulations” “), the” provision “clearly, the blockchain information service providers shall not use block chain information service in the laws and administrative regulations prohibit the activities or production, reproduction, dissemination, dissemination of laws and administrative regulations prohibit information content; in violation of laws and administrative regulations and service agreement block chain information service users, according to the contract shall take measures to deal with. Implemented since February 15, 2019.

National Internet Information Office official pointed out that the block chain information service management needs of government departments, enterprises, professional organizations and the public participation, perfecting the social credit evaluation, publicity and other means, continue to promote the blockchain industry self-regulation norms and public supervision.

Block chain technology supervision policy formally introduced for currency circle in domestic investors seem to again face strict supervision, to block chain technology name tokens issued may no longer was easy, and other digital currency bitcoin investment will be more rational.

In Xiao Lei’s view, because bitcoin prices fell more than 80%, bitcoin investment market this round of speculation “bubble” is definitely shattered. However, can not assert that bitcoin really failed”. Because it is the value of zero, is now down to this extent, bitcoin market has tens of billions of dollars of market value.

Bitcoin think Xiao Lei in 2019 is still worth investing, bitcoin daily turnover of 100 million yuan, the number is relatively large. The turnover from the point of view, or a bitcoin strong liquidity of assets, which means that many professional organizations or are willing to hold or to do business, the future price to repair it before the 80% decline may be more difficult, but from the transaction value perspective, it will maintain a long period of time.

Ten years passed, experienced from the temptation to madness, from faith to panic, bitcoin investors also will be in and out of the market turn the passions, bitcoin prices are still in a chart on the screen beating red……

(respondents should be required, the pseudonym Zhu Wei, Zhang Feng, newspaper intern reporter Tan Mina also contributed to this article)

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