Bitcoin breaks through $21,000. Let's see how Justin Sun, Jiang Zhuoer and others predict future trends

On the evening of December 16th, Beijing time, the price of Bitcoin finally broke through the 20,000 US dollar mark, entering the second stage of the bull market. In this round of bull market led by mainstream financial institutions and large companies, mainstream currencies such as Bitcoin, Ethereum, and Litecoin have gained high recognition. After breaking through the 20,000 US dollar mark, Bitcoin continued to rise all the way, reaching 21,658 US dollars at 10 am on the 17th, Beijing time.

This round of bull market has also seen a multi-point blossoming situation. A series of innovative currencies led by DeFi have not been short-lived, nor have they been seriously drained by Bitcoin. Their prices have continued to rise recently. AAVE has risen by 219% in one month. The mechanism of lending and liquidity mining has led to a large number of mainstream currencies being locked in DeFi, indirectly boosting the rise of mainstream currencies.

So far, the "double sword" of traditional institutions entering the market and developer innovation has made the new bull market of cryptocurrencies extremely solid, forming a virtuous cycle, with good money driving out bad money, which is completely different from the ICO leeks in 2017. In the bull market, as long as it is a mainstream project ranked in the top 20 or top 50, there will be no loss, unless you hold USDT or are obsessed with contract casinos.

So what are the reasons, peak and end time of this round of bull market? Previously, at the Mars event hosted by Wu Blockchain on November 18, Tron founder Justin Sun, Litecoin founder Jiang Zhuoer, Inbit founder Zhu Yu, Mars Cloud Mining founder Shang Silin, and Huobi analyst Lucas gave their own judgments on future trends, which are listed in this article for reference.

Justin Sun: Profitable funds flow to the top 20

Bitcoin decreases every time, the first time it increased by more than 100 times, the second time by 19-20 times, and it is estimated that this time it will be at least five times, that is, it will reach 100,000 US dollars. First, Bitcoin is a blood-sucking market, and most of the coins may be stagnant; when Bitcoin fluctuates at a high level, the profit funds will flow to the mainstream coins, probably the top 20 coins; when the mainstream coins are hyped, they will flow to the theme coins of 40-100.

Jiang Zhuoer: Breaking news brings new investors

In the past, it was easy to see a surge six months after each halving. This round of bull market has many institutions involved, and a large number of new investors have entered after breaking through the previous high. After breaking through the previous high, news will come out again, and new investors will come in. But when new investors come in, they will buy some relatively cheap currencies, especially the top ten currencies in terms of market value, which will start to soar.

Zhu Yu: Retail investors are short of stocks, and the main force will push higher

In terms of the increase, the last bull market was 100 times, because the volume of Bitcoin has become large, and there may not be so much capital. This time it is calculated to be 100,000 US dollars. Retail investors have few chips. When retail investors are short of chips, it is easier for the main force to push the price higher, so now we see 100,000-300,000 US dollars.

Shang Silin: Institutions are the main force behind this round of rise

Whether buying in the secondary market or mining in the primary market, mainstream institutions in the United States are the main force. The current search volume for Bitcoin on Google is only one-tenth of that in the 2017 bull market. On the other hand, retail investors are indeed not the main force behind this round of Bitcoin's rise. According to on-chain data and reports, about 23 companies hold nearly 840,000 or 850,000 Bitcoins.

Lucas: The upward trend is relatively healthy

The entry of institutions has brought new vitality to the market. Moreover, the strength of this round of market is greater than any previous year. Whether it is Grayscale's increase in holdings, various compliance agencies applying to the SEC for opening Bitcoin trading permissions, or establishing new cryptocurrency trading funds, they are all the main driving forces for this round of growth. At present, there is no parabolic market, which is still a healthy posture. (Picture from StormGain)