About 180,000 yuan/piece, shorts and longs are bursting, why is Bitcoin still soaring?

  At the end of 2020, the cryptocurrency frenzy hits again. Recently, the price of Bitcoin has started a "surge" mode, surpassing the $20,000 and $25,000 mark in one fell swoop, and continues to hit new highs.

At present, it exceeds 27,000 US dollars, or about 180,000 yuan per piece.

  On December 27, the highest price of Bitcoin in the intraday session was more than $28,300. As of press time, it still reached $27,000, and the overall market value exceeded $500 billion.

This market value has surpassed the world's largest financial company VISA (NYSE: V), which has a current market value of US$430 billion in U.S. stocks. It has the world's largest and most complete electronic payment network and has more than 2 billion users worldwide.

  Investors must be cautious

  Some analysts believe that it is necessary to rationally treat the crazy bullish view of Citibank, and that when institutions turn to bullish bitcoin, the public must be careful, because they often have "ulterior motives."

Nuriel Roubini, professor of economics at New York University, said that cryptocurrencies such as Bitcoin should not appear in the portfolios of retail investors or institutional investors. The skyrocketing price of Bitcoin is speculative, and this growth is entirely driven by market predators. Maneuver to drive.

  In fact, don't just see Bitcoin's current skyrocketing rise, it has also plummeted once, and it has fallen terribly.

The reporter consulted the Bitcoin price chart and found that in the past 5 years, Bitcoin has experienced large ups and downs. Among them, there have been more than 30 cases where it has fallen by more than 20%. There are many extreme cases of "halving", which can be seen under the condition of increased leverage. The risk is great.

  Difficult to grasp

  Short-selling and long-selling are all liquidating

  Bitcoin has been in a noticeable upward trend this year and has become an asset that will definitely benefit from the global epidemic.

Since Bitcoin hit a year low of $4,705 on March 13, its price has soared about 6 times.

Especially in the last two weeks, it has risen from US$20,000 to US$28,000, breaking through the 8 round mark in one go.

  A few months ago, someone predicted on the social networking platform that Bitcoin might exceed 100,000 yuan and was criticized by netizens. As a result, it has now reached 180,000 yuan.

In the recent round of Bitcoin's surge, the once-hot virtual currency community in China has been very deserted, and "walking in the air" has become the mainstream voice.

  In fact, the current Bitcoin is similar to A-share Moutai, and it is difficult for ordinary people to afford it.

Kweichow Moutai (600519.SH) currently costs 180,000 yuan even for one lot, which is similar to the price of one bitcoin.

And the share prices of Bitcoin and Moutai are quite similar. The more you find it unattainable, the more it rises.

  It is not terrible to miss the bull market. It is a lament to watch Bitcoin continue to rise and join the short-selling camp.

The "air force" did not expect that Bitcoin has repeatedly set new highs and has no intention of callback. This has caused the contract market Bitcoin to liquidate nearly 600 million US dollars in the last 24 hours, or about 3.8 billion yuan.

Among them, the loss of the largest short-sale order exceeded 65 million yuan.

  The "air force" suffered heavy losses. Will the "multi-army" in the currency circle make a lot of money?

The real situation may be surprising. Data shows that the contract market has also liquidated US$316 million in multiple orders in the last 24 hours.

  "This is mainly because the price of Bitcoin fluctuates too sharply, which leads to both long and short orders. At the same time, it is easy to add leverage to Bitcoin, and the leverage can be very large, even reaching 10 times or 20 times leverage. It is conceivable.” A chief analyst of a brokerage firm studied the Bitcoin price trend and pointed out that, for example, on the evening of the 27th, it rose by more than 28,000 US dollars, but suddenly plunged below 26,000 US dollars at 5 am on the 28th. High leverage may It exploded while still asleep.

The analyst bluntly said that he no longer understands the bitcoin market, and it is more difficult to grasp than the stock market. It is advisable for investors to look far, especially not to increase leverage.

  Behind the skyrocket

  International investment banks add fuel to the fire

  Bitcoin's recent hot market may have something to do with the participation of payment giants.

From the point of time when the price of Bitcoin has risen, it happens to be after the global payment platform PayPal announced that it would support the trading of cryptocurrencies.

There are reports that PayPal has recently purchased about 70% of newly mined bitcoins.

Square, another American payment platform company, also entered the market to scan the goods, which led to a rapid decrease in the supply of bitcoin in the Bitcoin market and continued to increase prices.

  Last week Tesla CEO Musk also publicly expressed his interest in Bitcoin.

Musk said through social networking platforms: “Bitcoin’s architecture is perfect, and of course there are other currencies. But I’m not sure yet whether Tesla’s involvement in the cryptocurrency circle is a good choice.”

  The statement of the tech tycoon Musk excited the cryptocurrency circle, and investors speculated that Tesla might buy Bitcoin.

  At the same time as Bitcoin's momentum is breaking through, analysts from international investment banks have added fuel to the fire, predicting that Bitcoin may become the "Tesla of 2021", and the future upside potential will be as high as several times.

Some analysts even gave ultra-high target prices of US$74,000 and US$100,000.

The target price given by Citibank is even more outrageous, breaking through $300,000!

  Citibank strategist Tom Fitzpatrick discussed the analogy between the gold market in 1970 and Bitcoin in his latest report "Bitcoin: 21st Century Gold".

The report believes that the structural changes in the modern monetary system have led to a world of fiscal indiscipline, deficits and inflation.

In view of the fact that countries are printing a large number of money in response to the new crown epidemic, this will benefit safe-haven assets such as Bitcoin that perform well in times of inflation.

Tom Fitzpatrick predicts that the price of Bitcoin will exceed $318,000 in December 2021.

  Chengdu Commercial Daily-Red Star News reporter Li Weiming