BTC accelerates, and whether the altcoin should be cleared

BTC accelerates, and whether the altcoin should be cleared

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:

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.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Bakkt is finally on the line, industry insiders said: In the long run, it is conducive to the development of cryptocurrency

2018 is the year of cryptocurrency and a year of unfulfilled promises from large institutions. This year, a large num...

Blockchain

"Bitcoin Revolution" report: Bitcoin economy is similar to Europe in the 16th century, optimistic about the derivatives market

According to Ambcrypto, Adamant Capital recently published a report called the Bitcoin Revolution. Among them, the re...

Blockchain

Viewpoint | The most amazing passage in The Bitcoin Standard (on)

Note: This article is a clip selected by Yorick de Mombynes from The Bitcoin Standard. When he was published on Twitt...

Blockchain

If Bitcoin prices skyrocket, it could make this country the richest country

Many Venezuelans have been buying bitcoins in increasing quantities to hedge against currency depreciation. An unprec...

Market

Everyone asks Vitalik: BCH culture has made progress, MPC wallet has fundamental flaws, and the farthest distance traveled on foot is 113 kilometers.

Previously, Vitalik publicly stated that BCH was largely a failure. Now he says that BCH has made progress culturally...

Bitcoin

CME Golden Run Climbing the Ladder to Become the Second-Largest Bitcoin Futures Exchange, Nears Legendary Top Spot

CME quickly rising as leading exchange for Bitcoin futures and perpetual futures.