BTC asset allocation

It was officially born on January 3, 2009

since 2015, the future of bitcoin has become more and more uncertain. On the one hand, bitcoin fell as much as 55.55% against RMB last year; In 2015, bitcoin fell by more than 30% against the RMB in the first half of January alone

bitcoin's "falling" reflects the "self-healing" of its value after "fanaticism" to a certain extent. According to statistics, in 2013, bitcoin rose from 1 ∶ 13.59 to 1 ∶ 731, with an annual increase of 5300%. This speculative driven inflation has affected the virtual currency property on which bitcoin relies

on the one hand, no country has defined it as a legal currency. On the other hand, in 2014, the US dollar rose significantly, and the prices of oil and bulk commodities fell correspondingly. The price trend of bitcoin is the same as that of the latter, becoming part of the asset allocation of some speculators, which highlights that its asset attribute is far greater than the monetary attribute

extended data

Security and credit risk have also become the reasons for the decline of investor confidence. Mt. GOx, once the world's largest bitcoin exchange, claimed in March last year that it had lost all its assets e to hacker attacks. Recently, it was revealed that its lost bitcoin was probably e to internal system manipulation

the regulatory environment of bitcoin is not optimistic, and Russia, Thailand and other countries have begun to implement strict control on it. In addition, the global stock market performed well last year, resulting in the diversion of bitcoin investment funds, and the crazy "mining" activities also rapidly increased the supply of bitcoin, which may lead to a trend of oversupply in the short term, leading to a sharp drop in the price of bitcoin

2020 is a magic year. Although there are many troubles from the beginning of the year to the end of the year, asset prices are rising very well

let's look at the performance of all kinds of assets:

{rrrrrrr}

here's another interesting thing. In the first seven months of bitcoin coming out, the creator Nakamoto Tsung mined 1.1 million bitcoins himself, accounting for 6% of the total amount of bitcoins. These bitcoins have been left untouched, and now are worth nearly $40 billion

If a market has the four characteristics of high leverage, drastic price fluctuation, limited trading volume and high concentration, then the market is a perfect Chinese chive cutting market

we have done a previous issue of the hunt brothers silver speculation. After hoarding a large proportion of silver, the hunt brothers in the United States manipulated the prices in the futures and spot markets to reap the silver investors in the market. Today's bitcoin market is a bit like the silver market of that year

before any asset bubble bursts, there will be lots of people making money. What is the upper limit of the bubble? How high will the price go? How crazy can market sentiment be? None of this can be predicted

a rational investor should not be distracted by the soaring price, but should carefully think about two questions outside the fanatical market sentiment. Do I really understand the investment logic behind this thing? Is it really worth so much money

if you're like me, you'd better not take part in this kind of incomprehensible excitement