Too crazy! 1 yuan becomes 12 million in 10 years! Bitcoin broke $31000, netizens fried pot: witness history again, analysts warn that extreme situation may suddenly plummet by 50%

Bitstamp platform data shows that bitcoin continued to rise today after standing at the $31000 integer mark yesterday, and bitcoin once again broke the $33000 barrier. Up to now, it has reached $32164.94, with a total market value of more than $560 billion. Since the birth of bitcoin in 2009, its first price is about 0.0025 dollars corresponding to the purchase in 2010. Since the birth of bitcoin, the price has risen by more than 12 million times! It is worth noting that while bitcoin reached a new high, 72000 people were out of positions in 24 hours, with an amount of 800 million US dollars (about 5.2 billion yuan). A bitcoin is equivalent to 207000 yuan. Since the bitcoin broke through $20000, the price of bitcoin has been hitting new highs. Throughout 2020, the price of bitcoin has increased by three times. In the first two trading days of 2021, the price of bitcoin continues to soar, breaking through $30000 on the evening of January 2. The price of each bitcoin reaches $31726, equivalent to about 20 710000 yuan. If we lengthen the time line, the price increase of bitcoin has exceeded a record 12 million times in 10 years, calculated from the corresponding US $0.0025 corresponding to the price of bitcoin for the first time in 2010 after its birth in 2009. In other words, 61.3 bitcoins could be purchased with an investment of 1 yuan at the beginning, which has been appreciated to more than 12 million yuan. The current market value of bitcoin has reached 3.85 trillion yuan (US $590 billion). In terms of global asset market value ranking, the market value of bitcoin has risen to No.9 by 22:00 p.m. on January 2, 2021, surpassing TSMC. TSMC’s market value is now reported at 565.4 billion US dollars. Alibaba’s current market value is 629.6 billion US dollars, ranking eighth, which means that the market value of bitcoin is slightly lower than that of Ali Baba. Why is bitcoin soaring? According to the Research Report of CICC, the price of bitcoin has risen from $7200 at the end of 2019 to $27084 (up to 2020 / 12 / 28), up nearly three times. It has become the asset class with the highest increase since the beginning of the year, and even exceeds the faamng technology giant index. In addition to the impact of global liquidity easing, the analysis shows that the financial innovation of financial institutions represented by PayPal, Robin Hood and grayscale in broadening the channels of digital assets in the past year is the structural reason behind the nearly tripled rise of currency price in the past year. The short-term currency price may be driven by liquidity and the inflow and outflow of speculative funds. However, in the long run, the continuous expansion of the traditional investor base is conducive to the stable rise of the price of digital assets such as bitcoin. First finance and economics once reported that William, chief researcher of okex research, said, “it may be different from the speculation or speculation that you think. Speculation and speculation do exist, but not the main reason. The direct reason is the high net worth and the admission of institutional investors. Since the second half of 2020, institutions such as MassMutual life insurance company and MicroStrategy, a business analysis company, have bought bitcoin; while PayPal, an online payment giant, and DBS Bank, the largest commercial bank in Singapore, have announced that they will launch cryptocurrency payment services. At present, more than $6.9 billion of bitcoin is held by listed companies. ” “The liquidity crisis is coming,” said Denny Scott, chief executive of coin corner, the UK exchange, recently. He pointed out that the grayscale bitcoin trust (GBTC) continued to buy a lot of bitcoin, with GBTC buying more than 115000 bitcoin (about $2.5 billion at current prices) in the fourth quarter of 2020 alone. Coupled with institutional buyers such as hedge funds, mutual funds and now insurance companies, bitcoin is in short supply on the exchange. This can only be solved by raising prices. Scott minerd, chief investment officer of Guggenheim partners, told Bloomberg late last year that bitcoin’s current price is far below fair value and that the digital token should eventually climb to about $400000 a bitcoin, given its scarcity and the Fed’s “frantic printing of money.”. Last November, Guggenheim applied to retain 10 per cent of its $5.3bn macro Opportunities Fund, which invests only in cryptocurrencies. “Our basic research shows that bitcoin should be worth around $400000,” he said. “It’s based on scarcity and relative valuations, such as gold as a percentage of GDP. So you know, bitcoin actually has a lot of the attributes of gold, and it has extraordinary value in terms of trading. ” Netizens frying pan: Big guy warning: extreme situation may suddenly plummet 50% bitcoin boom is showing signs of financial growth, some big guy warning may significantly reduce 20% – 50%. Nevertheless, market analyst David Goldman warned that the recent cryptocurrency boom is showing signs of financial growth. Financial inflation refers to more and more bulls in the market, the market sentiment is super optimistic, the market continues to go up or even accelerate, eventually leading to market collapse. Take Elon Musk, Tesla’s chief executive, last week’s comments against his tecoin rival dogcoin: after Musk’s support for dog coin on twitter, the dog coin’s price soared by 20%. Dog coin itself is a fake version of encrypted digital currency. Anthony scaramucci, founder of skybridge capital, has a large stake in bitcoin. But even he said investors need to be wary of the currency. ‘bitcoin may be a solid addition to the average investor’s portfolio – but you have to have that appetite,’ Mr. scaramucci said in an interview earlier in December. He also pointed out that bitcoin has been accepted and there is a lot of room for growth because it appears in a small number of portfolios. Nevertheless, scaramucci believes that bitcoin is still an unstable asset and there are still risks in investing in it. In his view, bitcoin is on the verge of collapse. Now is the time to adjust, and it may be violent. Skaramucci believes that bitcoin could suddenly plummet by 20% to 50%, so investors must be very cautious. Daily economic news integrates China Fund News, securities companies China, sina finance and economics, stock bar daily economic news

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