Don’t speculate on the price of bitcoin. For now, let’s look at $35000

Some economists jokingly said that “bitcoin is the currency issued by God, and only God knows its price law.” As an investment product, it is safer to predict what price bitcoin can rise to or what price it will fall, which is tantamount to playing with fire and self Immolation, or it is safer to take a look at it step by step. Bitcoin was relatively calm last night. Bitcoin fluctuated between 26000-28000 US dollars / piece. Due to the power of short positions, the bottom was only 26000 dollars / piece, which did not fall below 26000 dollars. Then it rebounded, which also relieved the worry of another downward trend. Today, bitcoin rebounded sharply and successfully reached 28500 yuan / US dollar, up 6.48% so far. On December 26, 2020, I published an article saying that we should first see $35000 / piece. It seems that 35000 US dollars / piece is also coming. There is only one day left before the new year’s day. It is estimated that the breakthrough of 30000 US dollars / piece in 2020 is still under pressure, depending on whether tonight or tomorrow is a shock or a breakthrough rhythm. The rise of bitcoin this time is different from the past. The rise of bitcoin is mainly supported by institutions. MicroStrategy bought 21454 bitcoins for the first time for $250 million on August 11 and said it would use bitcoin as its main reserve asset. Subsequently, 49016 bitcoins were purchased in September and December. Grayscale, a crypto asset management company, has been actively buying bitcoin. Currently, grayscale holds more than 570000 bitcoins, with a current value of more than 16 billion US dollars. Ark invest, known as the female version of “Buffett,” bought a lot of bitcoin at $240 a piece, and recently invested in gray funds. Before this year, Tesla founder musk wasn’t very interested in bitcoin, but this year musk asked on twitter about the possibility of converting “big deals” on Tesla’s balance sheet into bitcoin. In October, PayPal, the mainstream payment platform, announced that it would allow its users to use PayPal to hold or trade bitcoin, and its 26 million merchants would be able to choose to use bitcoin and other digital currencies as one of the payment methods. The rise of bitcoin is due to the release of the US dollar, the oversupply of global currency, the aggravation of inflation and the zero global interest rate. Bitcoin has always been regarded as a substitute for gold. Internal factors determine external factors. Maybe the nature of bitcoin determines its value. Don’t speculate on the price of bitcoin. First see 35000 and take a look.

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