3.4 billion in the entire network! Bitcoin rose above 180,000 yuan/piece

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In a dumbfounded, the attacking Bitcoin made history again.

After breaking through $25,000 on the 26th, Bitcoin trading volume continued to rise. At 18:00 on the 27th, Bitcoin broke through the US$27,000 mark, reporting US$27,642 (approximately RMB 180,900).

Compared with the spectacular scene of “all people shouting orders and issuing red envelopes” a while ago, the interest in this round of bull market currency circles has dimmed a lot.

“No one thought that Bitcoin would become an altcoin. The group was deserted and there was no delusion to get rich, because many people sold it when it was 20,000.” An investor told reporters.

The investors in the currency circle looked at each other: Who is making money?

3.396 billion yuan in the entire network

After three years, Bitcoin finally ushered in a bull market.

According to CoinMarketCap data, as of 18:00 on the 27th, Bitcoin has soared, breaking through the US$27,000 mark, reporting US$27,642 (approximately RMB 180,900), an increase of 11.7% within 24 hours. The total market value of Bitcoin amounts to 511.6 billion US dollars, or about 3.3 trillion yuan, which is one trillion yuan higher than Kweichow Moutai (market value 2.3 trillion) and equivalent to two industrial and commercial banks.

Bitcoin has been in a noticeable upward trend this year and has become an asset that will definitely benefit from the epidemic. Since hitting a new low of $4,705 on March 13, the current price of Bitcoin has skyrocketed by more than 584%.

On December 27, “Bitcoin broke 150,000 yuan at the end of the year” once topped the Zhihu Hot List, with a popularity of 11.3 million. Some netizens called out: “The market for rich wealth is here again, more exciting than a roller coaster”, and some netizens said: “Bitcoin and Maotai stocks are quite similar. The more you think it cannot rise, the more it rises.”

Alternative.me sentiment survey showed that on December 27, trading sentiment in the virtual currency market remained “extremely greedy” for more than a month.

However, in this round of surge, many virtual currency communities in China are still deserted.

“Unexpectedly, the bull market is coming, and I am out of it. The biggest sorrow of the Bitcoin people is that Bitcoin’s gains have made the headlines. Various friends from outside the circle asked me if I made a lot of money by playing Bitcoin, and I had more than 10,000 It was cleared when it was time. Now Bitcoin is really not affordable for ordinary people. It is a game for institutions across the ocean.” An investor told reporters.

Missing the bull market is not the worst, but the contracted Air Force is sad. According to UAlCoin data, as of the time of publication, in the contract market, within one day, the entire network had liquidated a total of 3.396 billion yuan. Among them, the largest short-sale order suffered heavy losses, amounting to 65.42 million yuan.

The Air Force did not expect that Bitcoin has repeatedly set new highs recently, and there is no sign of a callback. “The latest market is really incomprehensible, and the risk is too great. Some friends who speculate in Bitcoin futures refused to listen and went bankrupt.” A Bitcoin investor said.

Gu Yanxi, a practitioner in the blockchain and encrypted digital asset industry, said that it is very easy to increase leverage in bitcoin transactions at present, and the leverage ratio can be very large, and the risk may be greater. In such a market environment, it is necessary to stay awake in order to avoid large losses.

Suzie, chief experience officer of the virtual currency MXC exchange, also does not recommend that novices play with leveraged bitcoin futures contracts. “Under high leverage, the risk of contract liquidation is extremely high. If 10 times leverage is used, the market will be liquidated if the market fluctuates by 10%, and 20 times leverage will be liquidated if the market fluctuates by 5%. Novices’ operation of the contract and market conditions I am very unfamiliar with position control, stop-profit and stop-loss strategies. Operating such a high-risk transaction has a great risk of liquidation.”

Musk is eyeing Bitcoin

Tesla or entry?

While Bitcoin is booming, last week, Tesla CEO Elon Musk also publicly expressed his interest in Bitcoin.

Musk asked Michael Saylor, CEO of MicroStrategy, a US listed company, on social networking sites about the possibility of converting the “large transactions” on Tesla’s balance sheet into Bitcoin, and said: “Bitcoin The structure of the currency is perfect, and of course there are some other currencies, but I’m not sure whether Tesla’s involvement in the cryptocurrency circle is a good choice.”

MichaelSaylor suggested to Musk: “In the past few months, I have purchased more than 1.3 billion U.S. dollars in Bitcoin. In the face of unprecedented monetary expansion this year, every CEO is facing the challenge of how to maintain and increase shareholder value. Bit Coin is the best solution for every individual, investor and enterprise on the planet to store value.”

The exchanges between the two made the cryptocurrency circle very excited, and investors speculated that Tesla might buy Bitcoin.

Data show that since MicroStrategy started buying large amounts of Bitcoin in August, it currently has 38,250 BTC (currently valued at approximately US$610 million), and MicroStrategy has become one of the institutions that hold a large number of Bitcoins. At the same time, the company’s stock trading prices have also seen substantial growth.

Citibank calls sky-high prices

Even if Bitcoin already has such an astonishing increase, some analysts predict that Bitcoin may become the “Tesla of 2021”, with the future upside potential of up to several times; some analysts have given ultra-high targets of $74,000 and $100,000. Price; Citibank’s target price is even as high as $300,000.

Daisy, a senior analyst at Huobi Research Institute, pointed out: “The recent rise in Bitcoin’s momentum may be driven by the following two factors: First, the resurgence of the British epidemic has intensified expectations of global economic recession, and global inflation has become an unstoppable trend. In addition, deflationary assets with anti-inflation properties are inherently scarce resources, so the demand for Bitcoin has further increased. The second is further expectations for Bitcoin compliant products. The parent company of Grayscale Investments, DigitalCurrencyGroup, plans to launch a new one. Wealth management subsidiary, this wealth management subsidiary will join Grayscale, and more compliant products will be introduced to the market in the future. Institutional users’ attitude towards entering the market is remarkable, and many licensed investment institutions have established digital currency funds or submitted to supervision Institutions applying to trade digital currencies and listed companies to allocate Bitcoin assets are unprecedented.”

However, the above-mentioned analysts also reminded that a unilateral rise in the market is not a sign of a healthy market, and a certain correction in the market is a sign of a healthy market.

William, the chief researcher of OKEx Research, also believes that this round of Bitcoin bull market can be said to be a product of high inflation expectations. Institutional investors care about profits, not feelings like “Bitcoin faith” or “Blockchain revolution.” After the epidemic has gradually eased, with the gradual recovery of the economy, monetary policy will gradually shift from loose to moderately tight. At that time, institutional investors may sell Bitcoin.

Gu Yanxi pointed out that the biggest risk facing Bitcoin in the near future is still compliance risk. It is expected that in the next few years, US financial regulators will continue to strengthen the supervision of Bitcoin trading activities and venues, and such supervision measures will definitely affect the price of Bitcoin.