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On the evening of March 13, Bitcoin's quotation on Huobi exceeded $60,000, reaching a maximum of $61,800, a record high.
As of the time of writing, although there has been a drop, it cannot be ignored that Bitcoin has risen by more than 190% in the past three months.
Gemini co-founder and Bitcoin billionaire Cameron Winklevoss stated on Twitter that checks for the stimulus plan will inevitably flow into Bitcoin.
Du Jun, the co-founder of Huobi Group, also analyzed Bitcoin’s breakthrough of 60,000 US dollars. The main reasons are: first, the passage of the US 190 million stimulus bill, the start of a new round of water release, and investors’ impact on previous inflation. Concerns about the expected tightening of the currency environment in China have been resolved. Previously, BTC experienced a sharp correction, that is, the market was not optimistic about inflation. The current policy was implemented, and the previous excessive decline was corrected. In addition, news said that French members of parliament signed a petition to urge the central bank Buying Bitcoin, Bitcoin gradually moves towards the mainstream.
Bitcoin detonates the mainstream of encryption
The number of whale transactions continues to grow
In addition to Bitcoin, the number of whale transactions such as ETH, LINK, and BNB is also increasing.
On March 13, crypto in-depth analysis company Santiment tweeted that it had conducted an in-depth analysis of "whale" transactions of more than $100,000. Santiment found that over a long period of time, the number of whale transactions of more than $100,000 in BTC, ETH, LINK and BNB has continued to grow, and such transactions continue to affect market fluctuations.
Grayscale publishes GBTC advertisement in The New York Times
On March 14, Grayscale CEO Michael Sonnenshein shared a picture on Twitter. The picture showed that Grayscale published an advertisement for the Bitcoin Trust Fund (GBTC) in a newspaper published by The New York Times.
Increased trading volume on major cryptocurrency exchanges in South Korea
When Bitcoin broke through a new high of $60,000, the trading volume of the Korean digital currency market once exceeded the average daily trading volume of the country's stock market.
Data from CoinMarketCap shows that on Sunday, the trading volume of the South Korean cryptocurrency market once exceeded the average daily trading volume of the country's stock market. According to CoinMarketCap data, on Sunday, the 24-hour trading volume of major South Korean cryptocurrency exchanges UPbit, Bithumb, Coinone and Korbit totaled more than $14.6 billion. Last Friday, the Korean Composite Stock Index (KOSPI) had a trading volume of US$14.5 billion, and the Korean Securities Dealers Automated Quotation Index (KOSDAQ) had a trading volume of US$10 billion.
How to use CellETF to participate in the crypto wave?
At this stage, Bitcoin continues to break new highs, the GBTC advertisements are published in the "New York Times", and the trading volume of cryptocurrencies is increasing....These signs may all indicate that the market promotion effect of Bitcoin will be further Affect investors who are still on the sidelines.
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In the past week, analysts have been calling for Bitcoin to eventually rise to a level above $60,000. Social indicators show that with some companies and institutional investors announcing plans to buy BTC, bullish sentiment towards Bitcoin continues to increase. For users who are optimistic about Bitcoin and want to add a part of the allocation of encrypted assets such as Bitcoin to their personal asset allocation, at this time, they can subscribe to an encrypted asset fund containing Bitcoin, etc. through CellETF to complete the allocation of encrypted assets such as Bitcoin. At the same time, CellETF funds will provide multiple types of investment strategies, providing fund products with leveraged trading, risk hedging and other attributes. Only one site is needed to embrace the infinite possibilities of encrypted assets.
to sum up
On March 13, the price of Bitcoin once exceeded $60,000 per coin, setting a record high. Many encrypted digital asset exchanges believe that although the price of Bitcoin continues to rise, investors need to pay close attention to the risk of high volatility in the price of Bitcoin. In the past month, Bitcoin has repeatedly appeared at new highs and suddenly experienced a sharp correction trend. This time, after breaking through the new high of $60,000, there has been a correction trend without exception. As of the time of writing, Bitcoin has fallen back to US$56,204.71, a 24-hour drop of 7.02%.
However, the economic growth and inflationary pressure heating effect brought by the US $1.9 trillion fiscal stimulus plan is still stimulating investors to continue to chase Bitcoin, and the future performance of Bitcoin is still worth looking forward to.