Jiuyi Qingquan Technology Chen Jiahe: Virtual currency is still a bad investment and should not be considered as an investment target that should be considered

The Securities Times today published an article "Residents' wealth focus is likely to shift to the stock market" by Chen Jiahe, chief investment officer of Jiuyi Qingquan Technology. The article mentions that virtual currencies are still a bad investment. Although the virtual currency rebounded in the first half of 2019, it continued to get out of the bad market in the second half of the year. At present, the price of virtual currencies led by Bitcoin is far from the highest record set at the end of 2017. In the face of the weak virtual currency since 2017, I have seen on some forums that investors are beginning to think that this asset can bottom out, the reason is: has it fallen so much, isn't it an opportunity? However, although low prices are one of the keys to investment profitability, it has a premise: things that are low in price must be excellent assets. For virtual currency, it is not an asset at all. There is neither a physical asset that can generate economic value, nor a national credit endorsement like fiat currency, nor a limited supply like gold. It is difficult to find any meaning about this kind of assets like aerial buildings without talking about any price or valuation without the support of an asset base. Therefore, although the virtual currency has fallen from its all-time high, it should still not be considered as an investment target for prudent value investors.