Bitcoin has repeatedly hit new highs, can institutions push the price to 50,000 in this wave?

特邀专栏作者

2020-12-30 16:41 (UTC+8)

This article is about 840 words, reading the full article takes about 2 minutes

Institutional running into the market is the main reason for the skyrocketing of Bitcoin. The main net inflow of BTC in the past hour was 80.66 million US dollars, and the net inflow of 24 hours was 808 million US dollars.

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1. Beijing will launch a legal digital currency pilot zone and build a blockchain service platform next year.

2.3 iQ's Bitcoin fund has established an ATM plan, and will issue 150 million US dollars of Class A shares to the public from time to time.

3. The popularity of DOT has risen to the fifth place, and OKEx will soon support DOT lock-up mining.

4. The main net inflow of BTC in the past hour was 80.66 million US dollars, and the net inflow in 24 hours was 808 million US dollars.

Institutional running admission is the main reason for Bitcoin's skyrocketing

In yesterday’s article, I have already mentioned the reasons for the recent steady rise of Bitcoin. A large number of institutions have entered the market. As a tool for hedging risks such as a weaker dollar and higher inflation, Bitcoin is becoming more and more popular among long-term investors. The involvement of financial institutions has made Bitcoin the most popular product for investors this year, bar none. According to incomplete statistics, so far this year, investors have bet a total of US$5.6 billion on cryptocurrency funds and related products, an increase of more than 600% compared with 2019, and the asset management scale of institutions in the cryptocurrency industry will reach Nearly 21 billion U.S. dollars, while the asset size at the end of 2019 was only 2.57 billion U.S. dollars.

Since the second half of this year, institutions such as American insurance giant MassMutual Life Insurance Company and business analysis company MicroStrategy have bought Bitcoin, while online payment giant PayPal and Singapore's largest commercial bank DBS Bank have also announced that they will launch cryptocurrency payment services . According to data, more than $6.9 billion in Bitcoin is currently held by listed companies. This has brought about the prosperity of the Bitcoin market. It is foreseeable that Bitcoin will not collapse in the short term. At the time when risks and opportunities coexist, the cumulative liquidation of the three-month contract reached 50 billion US dollars. awe.

talk about the market

After two days of box shocks, Bitcoin officially initiated an upward rush signal in the early morning of this morning, until it broke through the previous high a few days ago. Presumably, all traders also want to know where the top of Bitcoin can be seen with the current amount of funds involved. Xinhuo also mentioned recently that the market technical analysis dominated by the current news cannot be used as a reference point, or the point mentioned above that you don’t have to panic when entering the market at any point in the bull market, because you need to bring a good stop profit and stop Loss, you can enter the market by looking at one direction. If there is a loss, then we first calm down and intervene. Is this operation method more rational than heavy warehouse intervention and has a higher trial and error rate? Every market can generate profits. If the desire is greater than the greed in people's hearts, then Xinhuo can say responsibly that you are already out of the game.