Buying BTC now, will there be a chance to rise to $125,000 within this year?
On June 1st, BTC adjusted again after a small rise, and the BTC market seemed calm as water. BTC is a little more stable, and immediately someone rushes to the BTC platform, claiming that BTC may have bottomed out. Tom Lee, co-founder of Fundstrat Global Advisors LLC, an independent research firm, pointed out in the latest BTC survey report that BTC may rise to $125,000 within the year. BTC may now have reached the bottom of 2021. If it can break through $40,000 in the next step, BTC and may open an upward channel.
To be honest, I don't know how many dollars BTC can rise to, but BTC and other cryptocurrencies have no bottom line. Whenever they buy bottoms, they may be caught. Moreover, according to the news currently known in the market, it is more harmful than good for BTC, and BTC is far from reaching the bottom and rebounding. However, from June 3 to 5, the Miami BTC Conference will be held soon. I don't know if it will bring good news to BTC. If at this BTC Conference, some constructive opinions can be brought to BTC, then it is not impossible for BTC to reverse its decline.
After BTC experienced a major dive in May, it seems that it has been relatively stable a lot in the past week, but the news about BTC in the market is not optimistic. Although BTC and other cryptocurrencies have high hype characteristics, it is difficult to judge their price trends. To put it bluntly, the rise and fall of BTC is a “technical activity”. But it does not prevent us from interpreting the known news in the current market and analyzing the impact of technology and policies on BTC. I looked at the news about BTC in the past week, and felt that using one word to describe BTC is "slumping." It can be seen that BTC has been clearly underpowered recently.
BTC, whose trading volume is sluggish, lacks upward momentum, which shows that the market panic has not disappeared
When the Huobi platform counts BTC transaction data, it has repeatedly used the phrase sluggish trading volume in the past week, which shows that the market’s “panic” about BTC has not disappeared. BTC is a decentralized currency system, and the driving force behind its value growth is the consensus system. If someone supports it, the price will increase. Of course, its value is different from that of traditional industries, and its value is even more illusory. To put it bluntly, the hype factor is dominant. In addition to the deliberate "manipulation" of the price of BTC by capital giants, theoretically, the more people who participate in the hype of BTC, the greater the value of BTC.
Now the Huobi platform has repeatedly used the term sluggish trading volume to describe BTC. It can be seen that the enthusiasm for BTC hype in the market is obviously not high, which is very unfavorable for BTC. I think there are two reasons for the sluggish BTC trading volume. One is the tightening of our domestic BTC policy, and the second is the potential threat of BTC exchange downtime. Although these two negatives have been partially consumed by the market, and some BTC giants have stepped up to support BTC, the BTC market does not seem to be buying it.
BTC with a unit price of nearly US$40,000, although the transaction can be split, but it is not affordable for ordinary people. Every time BTC's current price rises by one percentage point, huge risks need to be taken, and capital giants will also consider it carefully. In addition to capital giants who want to control the harvest of contract users, theoretically speaking, if BTC wants to continue to grow, more users need to participate in it. However, BTC has been sluggish in this way, which will only increase the market's panic and holding pressure, and the situation that it will fall for a long time will happen.
BTC, whose trading volume is sluggish, has become a gambling tool when it rises to $125,000
Technically, the trading volume is sluggish. I can't see what is the driving force for BTC to rise to 125,000 US dollars? It is not impossible if there is an immeasurable increase, but this is not good news. As a representative work of blockchain technology, BTC will lose its value as a currency system if it is completely reduced to a tool for capital giants to hype. BTC, which has risen in price purely for hype, is praised as a financial management tool, to be precise, a gambling tool.
At present, there is no obvious positive news for BTC in the market, and the only hope is the upcoming Miami BTC Conference. Although BTC and other cryptocurrencies seem to be decentralized monetary systems on the surface, it is difficult to get rid of policy intervention and has been supported by capital giants. Although BTC is very valuable in the eyes of people who support the decentralization of the monetary system, this is definitely not the value of BTC in the eyes of capital giants. In the eyes of capital giants, BTC is just a financial product and a profit-making tool for them.
Of course, my analysis of BTC cannot be used as a guide for investing in BTC. BTC has very high trading characteristics. Moreover, in the contract market, whether short or long, it may be harvested by capital giants. In the eyes of capital giants, almost all user information is transparent, and BTC is a technical job to open up and down. In the same way, if someone follows the footsteps of capital giants, investing in BTC can also have good returns, and it is also not affected by negative market sentiment.
