Is bitcoin volatile over the weekend
bitcoin, whose price has been around $9000 recently, finally broke through the $10000 mark yesterday (June 2) morning
however, around 11:00 p.m. on the 2nd, & lt; Thrilling & quot; As a result, the price of bitcoin plummeted nearly $800 in six minutes, down nearly 8%
as of 1:00 a.m. on June 3, Beijing time, the amount of bitcoin's full network exposure in the past 24 hours has exceeded 700 million US dollars, about 5.111 billion yuan, and the number of exposure is about 36000{ RRRRR}
Goldman Sachs pointed out that & lt; Cryptocurrency, including bitcoin, is not suitable as an asset class, but a security& rdquo; The reason given by the agency is that the price fluctuation of cryptocurrency has no stable correlation with other assets, and there is no evidence that cryptocurrency can be used as a hedge against inflation. In addition, Goldman said, & lt; The price rise of cryptocurrency mainly depends on whether other people are willing to pay a higher price for it, which is not a suitable investment tool for our customers& rdquo;
After the end of February, on March 11, bitcoin reached a high of US $57000 again . At about 3 a.m. on March 11, the price of bitcoin surged to more than US $57000, up to US $57200, the highest in nearly two weeks, according to coinmarketcap
However, the price of bitcoin continued to decline. As of press time, the latest price was $55296, up 3.13% in 24 hours, with a market value of $1 trillionpreviously, at the end of February this year, the price of bitcoin broke through 57000 US dollars, once a record high, and even the price of indivial trading platforms has jumped to more than 58000 US dollars. However, in the following days, the price suffered a big plunge, falling to US $43000 at one time
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reasons for the recent rise of bitcoin:
"this round of bitcoin bull market is the proct of high inflation expectations. Some time ago, when the yield of 10-year U.S. Treasury bonds rose rapidly, the market believed that the monetary policy of the Federal Reserve would change faster than expected. It was predicted that the Federal Reserve would rece the purchase of bonds in advance, and even increase the interest rate earlier. In this context, bitcoin has plummeted. " The chief researcher of Ouyi okex Research Institute told the reporter of Securities Daily
"the recent rise of bitcoin is e to the fact that the market has stepped out of the haze of the previous period and the rising expectation of medium and long-term inflation." The above-mentioned researchers believe that it is mainly based on the following factors:
on the one hand, the Fed's statement on the yield of 10-year Treasury bonds has dispelled the market's concern about the change of monetary policy, and the market's inflation expectations have been revised
on the other hand, through the US $1.9 trillion economic rescue plan, this economic stimulus plan will stimulate the growth of social demand, push up commodity prices, and raise global inflation expectations for a period of time
bitcoin has dived into US $8000 in the day. The main reason why bitcoin is so powerful is that its price is high, its valuation is high, and investors make huge profits. Bitcoin itself does not generate profits, but its total market value is several trillion. Any rash will make investors realize their profits
with the continuous improvement of science and technology, the continuous development of the Internet and the emergence of emerging instries, bitcoin has gained more development in our times. As an emerging instry, bitcoin has attracted many people's attention, and its price has increased tens of thousands of times in a few years, which is the performance of wealth legend. Bitcoin's price is high and its valuation is also very high. Investors have made huge profits in the short term. Bitcoin itself does not proce profits, which leads to the deviation of valuation. The total market value is as high as several trillion. This shows that the chips have been loosened. This is also the reason why bitcoin's price is so strong
3. Can bitcoin the bottom
bitcoin's intra day plunge of US $8000 is indeed very volatile, but for ordinary investors, I do not recommend bottom hunting, because bitcoin is a high-yield and high-risk investment variety, and the fluctuation range is as high as RMB 45000 a day. In this way, not all legal persons can bear the fluctuation. There is no sign of stabilization for this position, so bottom hunting bitcoin is not recommended, In particular, general investors are not recommended to participate, so the risk is relatively high
if you know how to trade, you can sell high and buy low