The first ETF in the U.S. to purchase Bitcoin assets

     From a peak of over $1,200 to its current price of over $200, Bitcoin, once a "financial star," has lost its luster. Speculators who hoped to realize their dreams of wealth have left the market one after another, but there are still some people who insist on staying in the Bitcoin ecosystem, and they are still waiting for the "revolution" that virtual currency may bring.

     Xiao Chen is such a Bitcoin speculator. He has experienced the great market trend in 2013 when the price surged more than 100 times, and also experienced the "huge pain" of a 70% plunge in 2014. In the first half of this year, he "abandoned Bitcoin to trade stocks", but now he has not left Bitcoin.

     Recently, the U.S. Commodity Futures Trading Commission (CFTC) announced that it has officially classified Bitcoin as a commodity, which means that Bitcoin is now classified as a commodity like gold and oil, and trading behavior will be subject to all commodity derivatives market rules. The CFTC's new regulations also mean that some other unregistered Bitcoin derivatives companies in the United States may have a nervous time in the coming months.

     As a result, Bitcoin seems to have upgraded its "status", which makes many Bitcoin fans excited. However, the price of Bitcoin seems to remain unmoved. Data from the domestic trading platform Huobi.com shows that the price of Bitcoin has not changed significantly in recent days, and it remains around 1,480 yuan. The trading volume only increased slightly on the day when the CFTC announced the relevant decision. Since the beginning of this year, the price of Bitcoin calculated in RMB ( 6.362 , -0.0005 , -0.01% ) has fallen by nearly 20%.

     In fact, although the price of Bitcoin has experienced sharp fluctuations this year, the long-term low price has tested the psychological endurance of speculators. Speculators who can no longer bear it have gradually left the market, and the entire Bitcoin-related industry has entered a downturn. "Many players around me have given up on Bitcoin and started to invest in stocks," said Xiao Chen, "but most people have only made matters worse, because the A-share market has also experienced sharp fluctuations, even more violent than Bitcoin."

     At this point, Xiao Chen seems to have to "thank" Bitcoin: "Since mid-June, the A-share market began to fall sharply, but at this time the price of Bitcoin saw a significant increase. This negative correlation allowed me to make up for some of my losses in stock trading, and I decided to continue investing in Bitcoin." Market data shows that from early June to mid-July, the price of Bitcoin rose from 1,400 yuan to nearly 2,000 yuan.

     In January 2009, Bitcoin was officially born. Whether the creation of Bitcoin is a great Internet financial experiment or a Ponzi scheme led by geeks, Bitcoin has become the world's most popular Internet virtual currency. However, Buffett once advised to stay away from Bitcoin. He believes that it is just a mirage, and Bitcoin is just a way to transfer money, and it does not have any meaning in itself.

     As the Bitcoin market has been sluggish for a long time, most people who remain in this circle are like Xiao Chen, who is holding on to hope while thinking of other solutions. "I hope the Bitcoin market can develop healthily, and the market will improve when the wind comes, but I am still a little worried and don't know what the future of Bitcoin will be like."

As a result, Bitcoin followers who continue to hold on to their "tickets" have no choice but to wait for the wind to come.