Torch Essay: The day when Bitcoin leads the rise is not far away, put aside all technologies and just wait for the breakthrough

At the beginning of the article, I would like to announce a good news to everyone. Do you still remember that Xinhuo mentioned the Bitcoin ETF listed in Canada some time ago? Its asset management scale has reached 657 million US dollars, accounting for about 0.53% of the total Canadian ETF market size, far exceeding the average asset management scale of a single ETF in Canada. Compared with Bitcoin spot and Grayscale GBTC, ETF products represented by BTCC have a management fee of less than 1% and a low price premium, no lock-up period, no "qualified investor" threshold, and no encryption asset transaction certification such as a wallet. The product design angle is more suitable for small and medium-sized retail investors. With Coinbase on the verge of listing and CME becoming the world's largest bitcoin futures exchange, bitcoin price manipulation may be on the decline. Seeing this, some people may ask, what impact will Bitcoin have on the market trend after it is not manipulated? Xinhuo's own opinion is that the market will turn into a slow bull, and the previous sharp dive will be greatly reduced, but it will not affect the essence of the bull market. Major institutions will also turn to arbitrage instead of harvesting.

Let me tell you about the situation:

We can see from this market chart that Bitcoin has been under pressure for a long time at the 50,000 mark. The only time it broke through 50,000 and stood at 52,000 was stolen by the bad news from the Federal Reserve. However, Bitcoin is like an unbeatable Xiaoqiang. stood up. Old fans of Xinhuo know that being under pressure for too long in one position means that the market outlook will be a blowout. It’s the same as going to a karaoke room to sing. People who are under more pressure often howl more vigorously and want to let themselves go. . Studying the K-line all day long to collect news instead closes the window for ourselves. Sometimes we just lack the ability to see the essence through things, and like to complicate things. Looking back, hey! It turned out to be the case. I won’t say much about the rest of the operating salary, there are many low positions in light positions, just don’t be greedy. Private message me if you don't understand.

There is nothing to say about Ethereum. It performed well today. However, if the leader of the currency circle fails to rise, it will have no continuity.