Fu Rao: This round of plunge may become a catalyst for the market

Fu Rao, a senior researcher at the Hong Kong International Institute for New Economics, published an article entitled "The coexistence of the bitcoin crash." The article said that there are three reasons for this plunge: First, Bakkt's start is unfavorable. Second, there may be currency manipulations in the market. Third, the global blockchain fundamentals have not improved much. Of course, the dangers often coexist. This round of slump may also become a catalyst for the market, prompting a rebound in interest in cryptocurrency. Some analysts believe that this may be the "last chance to get on the train" given by the market. Although the author disagrees with such an arbitrary point of view, he does not think it is too pessimistic about the market outlook. After all, the market still has expectations for Bitcoin's "half-half" moment in May next year. The technical development of the blockchain has also been supported by policies. Taking China as an example, not only the expectations of the introduction of the central bank's digital currency, but also the recent high-profile documents such as the “Building Outline for the Powerful Powers” ​​mentioned “promoting big data, The integration of new technologies such as the Internet, artificial intelligence, blockchain, and supercomputing with the transportation industry has laid a policy foundation for the development of blockchain technology.