Bitcoin will enter the financial market, from worthless to worth over ten thousand

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The recent Bitcoin ransomware virus, which is said to have spread worldwide, has become a household name. The scope of impact and the degree of harm are so great that it involves more than 20 countries around the world, with Russia being the hardest hit and China ranking fifth. This Bitcoin virus incident is one of the rare cases in history, and I believe it will definitely leave a deep mark in the development of history.

What is Bitcoin

Bitcoin was originally a kind of online virtual currency, similar to Tencent's Q Coins, but it can already be used to purchase items in real life. Its characteristics are decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not restricted by geographical location and can be exchanged anywhere in the world.

The impact of ransomware

According to data from the Bitcoin USD trading platform (OKCoin), the US Bitcoin price ended its 14-day consecutive rise and fell 6.42% on May 12, closing at 1735 (USD), with a peak of 1854 (USD). On the 13th, it rebounded slightly, hovering around 1750 USD. According to data from (OKCoin), the Chinese Bitcoin price fell by more than 3.15% on the 12th, and on the 13th, the price fluctuated and hovered around 10,500 RMB, still maintaining a unit of 10,000.

The risk of China's Bitcoin market has been reduced a lot due to the suppression of the central bank. As for why the central bank suppresses Bitcoin? The author believes that it is not possible to express opinions before the facts can be confirmed, so as to avoid misleading public opinion.

Regarding this Bitcoin payment incident, some Bitcoin practitioners or investors as well as people inside and outside the circle claimed that the ransomware virus has no direct relationship with Bitcoin itself. The hackers demanded Bitcoin as a ransom payment because of the globalization, decentralization and anonymity advantages of Bitcoin payment transfers.

Whether the Bitcoin trading center is a real-name system is still a "gray area". Co-founder Robinson said that Bitcoin trading centers are not regulated in Europe, but now the EU is strengthening supervision and improving it. And the famous American economist Fren said that the US government can issue a subpoena to Bitcoin at any time if necessary. Whether this incident is a coincidence or hype, it is unknown now, and time will prove everything. But the biggest beneficiary is Bitcoin, which is still an unchangeable fact!

What's the connection between Bitcoin's crazy rise and the US dollar?

This incident has forced politicians and leaders from all walks of life to think about the negative impact of Bitcoin on financial investment. Considering the relevant regulations and systems that Bitcoin is being regulated in the United States, as well as the upcoming interest rate hike by the Federal Reserve, the story behind this is worth pondering. Due to the limitations of online posting, the author is not able to analyze it in detail.

Watch the market dynamics, learn financial knowledge, and learn investment skills. The author is a senior CFP planner who has devoted himself to studying the international and domestic situation and has strong guidance on foreign exchange, crude oil, gold, silver, currency, etc. If you have just entered the market, I will take you; if you are already in it but not ideal, I will teach you; if you have been struggling in this market but are bruised and battered, I will help you. In the face of opportunities: smart people would rather catch the wrong one than let it go!