Some people think that bitcoin is still in a bull market, but some price fluctuations are inevitable“ On average, price falls like this one occur five to seven times per bull cycle. So the growth of bitcoin is far from over, and I expect the price of bitcoin to reach $100000 in the next year or 18 months. "
Many people remain optimistic about the recent trend of bitcoin prices. They judged that the low point of bitcoin price was about $40000 or $30000, which would not be lower“ I want to repeat what I said before, the market likes integers. At present, bitcoin has not been able to find the strong support it needs above $60000, nor has it reached $75000, which is the next major milestone after $50000. "
Compared with gold, the value preservation of cryptocurrency depends on the development of digital currency and the change of regulatory policy. He stressed that the application of encryption technology by various institutions is the most important determinant of the price of cryptocurrency in the long run. Companies are constantly adding bitcoin and other digital currencies to their asset allocation, which is the basis for the value of digital assets to rise to record levels.
Recently, the United States, Russia and other countries tend to be strict in the supervision of encryption assets.
Federal Reserve Chairman Colin Powell stepped up his attack on cryptocurrencies on Thursday, saying they pose a risk to financial stability and suggesting that there may be reasons to strengthen regulation of the increasingly popular electronic currency. At the same time, the U.S. Treasury expressed concern that the rich might use this largely unregulated industry to evade taxes, and expressed the hope that large transfers of cryptocurrency assets would have to be reported to the authorities.
Previously, Michael Hsu, the new acting director of the office of the Comptroller of the currency, also said that after taking office, he would start to review the main regulatory standards and the pending matters of the agency, including explanatory letters and guidelines on encryption assets and digital assets.