|
Why Bitcoin is skyrocketing again <br/>Today is November 17, 2016. The current price of Bitcoin is 5,350 yuan. Yesterday we reviewed the market in June when the price of Bitcoin broke through the 3,000 yuan ascending triangle. Once the 3,000 yuan was broken, the price of the currency rose unstoppably, rising from 3,000 yuan to 5,000 yuan in half a month, an astonishing increase of more than 66.6%. Last night's market once again showed the momentum of breaking through the ascending triangle. Once the 5,000 yuan was broken, some platforms instantly rose by about 10%. In the subsequent midnight market, basically all platforms saw an increase of more than 8% in Bitcoin. Where does the driving force for Bitcoin's rise come from? Biqushi believes that there are mainly the following reasons:
1. Widespread dissemination and application of blockchain technology <br/>It has been a year since the first global blockchain summit "Blockchain - New Economic Blueprint" was held in October 2015. Various blockchain conferences have been held one after another, and the traditional financial industry and related industries are full of expectations for the bright future of blockchain technology.
Of course, Bitcoin, the ancestor of blockchain technology, has been re-recognized. Some people with more open-minded and progressive ideas have gradually gotten rid of the first impression of "being afraid of Bitcoin" and expect that Bitcoin blockchain technology can promote social development. However, some people with more conservative ideas still have the following questions in their minds, "Isn't Bitcoin a pyramid scheme?" "Hasn't Bitcoin been banned by the country?" "Hasn't Bitcoin gone bankrupt?" However, we know that "Bitcoin" or "blockchain" is just an emotionless and morally neutral technology like the Internet, nothing more. However, this also means that the current digital asset market is still a new thing, still in a very early stage, and there are many opportunities.
In 2014, my country's central bank set up a special research group for issuing legal digital currency to conduct forward-looking research on digital currency-related issues. On January 20 this year, my country's central bank held a digital currency seminar and expressed its intention to launch the digital currency issued by the central bank as soon as possible. A few days ago, China's central bank issued a notice to the public to recruit Bitcoin blockchain researchers. This series of actions by China's central bank indirectly shows the government's enthusiasm and affirmation of Bitcoin blockchain technology.
2. A large amount of funds seek various safe-haven assets <br/>The fact that legal currency continues to depreciate in the long run is widely recognized and spread. 20 years ago, the price of a house in Shanghai was 30,000 yuan, but now 30,000 yuan can't buy one square meter. More than 20 years ago, the average wage in Guangzhou was 600 yuan, and now the average monthly wage is 6,000 yuan, which has increased tenfold, but people still feel short of money. 10,000 yuan is still 10,000 yuan, the amount has not changed, but the purchasing power is declining every day. Based on this unchangeable reality, how to maintain the value of your assets and how to protect your wealth more has become basic common sense. Various funds are seeking safe-haven channels, and of course Bitcoin happens to be one of the good choices.
3. The booming digital asset industry <br/>The booming development of blockchain digital assets such as Ethereum, as well as the wealth effect brought about by the rise of related digital assets, have attracted more blockchain research teams to enter the digital asset market to conduct technical research and development. Each small research and development team has formed its own faction, quietly doing more basic popularization and education work, and spreading the knowledge of digital assets to every corner.
4. Each trading platform actively carries out offline popularization and education work <br/>Since this year, domestic first-tier trading platforms such as OKCoin, Huobi, Bitcoin China, and second-tier trading platforms like CoinChuang have carried out a lot of online and offline basic knowledge popularization work, popularizing the knowledge of digital products to university campuses and the public. Let the public have a more correct understanding of digital assets. According to the Baidu Encyclopedia Index, the search volume of related words on those trading platforms that actively promote online and offline has increased significantly, even close to the search volume of Bitcoin. This also shows from another aspect that investors are gradually maturing, from a simple understanding of the basic knowledge of Bitcoin to actual actions on where to buy Bitcoin and where to trade Bitcoin.
5. The sentiment of buying more has been pervasive in the digital asset market . According to the big data monitoring and analysis of the currency zone, the sentiment of buying more has been pervasive in the Bitcoin market in the past two or three weeks. When the price rose to around 5,000 in June 2016, there was a lot of short-selling sentiment in the market, and the price of the currency quickly fell to the 4,000 level and went sideways. Subsequently, the market's long and short sentiments continued to intersect. Around October 20, when the price of the currency was still around 4,300 yuan, the market suddenly had a lot of bullish sentiment. After the price of the currency first reached 5,000, the bearish sentiment of the market was much smaller than before. Then on November 8, which was 10 days ago, the market suddenly showed bullish sentiment again, which lasted until the price of the currency approached 5,000 yuan two days ago. The current price of the currency has stood above 5,000 yuan, and the market is also slightly bearish. More data observation is needed to better judge the general direction. 6. Entering October, the number of new investors entering the Bitcoin market suddenly surged <br/>Also from the big data analysis of Biqushi, as shown in the figure below, after the National Day, the number of new investors entering the Bitcoin investment market suddenly increased a lot. The number of investors entering the market every day is two to three times that of July and August. Most of the time, the number of new investors entering the market exceeds the upper limit of data monitoring. A large number of new investors entering the Bitcoin market to invest has laid a solid foundation for the rise in the price of the currency. With the rise in the price of Bitcoin, various media reports may bring more new investors into the Bitcoin investment market. |
