Bitcoin surpassed US$60,000, a 13-fold increase in a year! Insiders: This is far from the end
Unknowingly, Bitcoin ushered in a bright moment again. On the evening of March 13, the price of Bitcoin broke through the US$60,000 mark for the first time, and finally closed nearly 7% to US$61,305. At the same time, the shorts suffered a “bloodbath”. In the past 24 hours, 96,000 people have liquidated with funds up to US$766 million. With that, the “king of goods” Musk has made crazy money again, which makes people enviable.
Many people don’t understand why Bitcoin has recently regained its momentum and continues to soar? In fact, there are three main reasons:
First: the economic relief bill
Since last year, Bitcoin has experienced a round of rising market under the influence of the global economic relief bill. However, the legal status of Bitcoin has not been established, and many countries have introduced a series of targeted control measures, thereby there is no way to trade.
However, with the US$1.9 trillion relief bill, the liquidity of the US dollar is expected to be further released, which greatly alleviates the concerns of financial market investors about the tightening of the Fed’s monetary policy. As an asset that is extremely sensitive to US dollar liquidity, the investment institutions which had left the market returned to Bitcoin again and promoted this wave of market rise.
Second: The continued money-making effect brought by the rise of Bitcoin. Investors are rushing to enter the market.
This shows that investors have a very sensitive sense of smell, and there are always investors who are willing to make quick money in the market. The rebound of Bitcoin has brought a rare opportunity to make money, driving new investors to enter the market for money.
It is particularly worth mentioning that the rise of Bitcoin has attracted more institutional investors. These institutions have much higher financial strength than individual investors, and with sufficient funds, they can “control” the Bitcoin’s market, causing Bitcoin and related tokens officially an independent asset class.
For example, a PayPal announcement outlines a fundamental transformation map for Bitcoin; another example is the participation of large fund, which directly drives up the liquidity in the Bitcoin market.
Third: Bitcoin’s scarcity has further increased the “hype expectations.”
Bitcoin is “extremely scarce” in everyone’s mind. We analyze it through a set of data:
1. It is extremely difficult to mine Bitcoin
Bitcoin is generated by calculations (it is not the result, but the rewards of calculations). The upper limit for the number of bitcoins is 21 million. There are two main ways to obtain them, one is mining and the other is trading.
However, it is extremely difficult to obtain Bitcoin through mining. At the very beginning, the mining software can be run on the personal CPU for mining purposes. Later, it gradually evolved into a mining machine array with ultra-high computing power. Thus, you can no longer mine Bitcoin with those computers and graphics cards by yourself, even the electricity bill is unaffordable.
Therefore, BTC is so risky. It is recommended to mine NGK instead. It has lower risk. Take NGK tokens as an example, the income is stable and maintain for a long period. The relevant airdrops received by the VAST tokens are the previous Defi BGV airdrops, as well as the current SPC computing power reward token and VAST airdrops. The OTC price of VAST token is close to US$160, and now the NGK has also launched its own NGKEX, allowing the participants of NGK’s construction to join the feast of cryptocurrency more quickly and conveniently.