Since entering June, the price of BTC has reached a new high every few days. However, most of the competition coins and altcoins in the market have not outperformed the BTC, which caused some investors to have some doubts and even anxiety. I have asked: The arrival of the bull market, there are a lot of cottages in hand, in the end is to change to BTC, or to keep the cottage and other hundred times?
In fact, the current stage of the current bull market has been different from the previous bull market:
- LedgerX launches $100,000 bitcoin call option
- Spam attack? Bitcoin average block size suddenly soared to more than 3MB
- What will happen to Bitcoin in the next financial crisis?
- Bitcoin fell more than 10% on the day. Digital currency went "downhill"
- Libra coins accepted a US Congress hearing this week, bitcoin plunged 12% and fell below $10,000
- Why is Bitcoin a belief?
1. Investment institutions hedge
Safe-haven assets have become the target of institutional investors, and BTC has been hailed as digital gold. The investment report released by the digital money fund Grayscale in June this year shows that the fund's investment in bitcoin has been accounted for since 2018. 47.6% increased to 71.9% at the end of May this year, while the proportion of investment in other currencies such as Ethereum declined significantly. Obviously, the institutions involved in the investment are more optimistic about Bitcoin.
I remember that half a month ago, the rise of the market was because Bitcoin became a safe-haven asset. Now that the stock market crash has promoted the continued rise of the currency market, it also proves that there is no choice in the global economic situation. Gold is Bitcoin, which is very interesting. Bitcoin has risen out of control, but the funds are still pouring in. Looking at the upcoming 1.3W mark, the point that once was out of reach seems to be now It can be achieved, and the current market is not active, it is already boiling.
2. Facebook officially launched the cryptocurrency Libra
Since its release, Libra has been destined to be a stable currency such as USDT, which will not have a substantial impact on BTC. Instead, it is the news that will continue to stimulate the favorable interest of the currency and drive the value of BTC to rise.
Yesterday, according to the data analysis platform The Tie, there are 7051 tweets referring to Bitcoin and Libra. Among them, nearly 4,300 (61.4%) tweets believe that Facebook's cryptocurrency project has a positive effect on the cryptocurrency market. .
3. BTC production reduction
The expected half-year of BTC production is halved on May 16, 2020. The current new production of BTC is 1800, and the daily output will be 900 after halving, and the inflation rate will also be 3.8%. Dropped to 1.8%. One of the factors driving the rise in BTC prices in the minds of many people is their own scarcity.
4. Admission of "Amaranths"
The news brought about by the continuous surge of BTC has also increased. The words “up” and “swell” have been stimulating “amaranths” and they are eager to try. The author’s friends will find out how to enter the BTC’s news. Field, purchase and other operations, but after all, Xiaobai did not understand what EOS is, what is TRX, but the name of BTC has been ringing for many years, for them, the three names of BTC, is the sign of making money.
These reasons may also explain why bitcoin continues to rise and most of the altcoins are still in place.
Of course, although the "Amaranths" chose to enter the market, Bitcoin has been pulled up by institutions to prices that ordinary people can't buy and can't afford. Amaranths are more likely to be less willing to participate in the pie investment, so they will choose the market. The lower price of the coin or the altcoin.
So, if you are already on the bus, don't worry anymore. If you are anxious, you should be those who haven't got on the bus yet.