Just five days after its pullback to $50000, bitcoin again stood above the $60000 level on March 18, up nearly $5000 from its low level in 24 hours.

Although there are still many disputes about the legality of bitcoin, the market is also very clear that once it is determined as "illegal" by central banks, bitcoin will be cleared overnight. This is also the main factor that most ordinary investors did not dare to intervene before. After all, there are not many real gamblers in the investment market.

However, after entering 2021, musk, who has 48 million fans in the retail market, suddenly pushed bitcoin. Then Tesla also announced that consumers can use bitcoin to pay for cars, and bought $1.5 billion worth of bitcoin on February 8. This investment has also brought huge profits to Tesla. According to estimates, in just one month, Tesla's investment has made a floating profit of more than $900 million.

Mike McGlone, a commodity strategist at Bloomberg, has also pointed out on twitter that the pace of bitcoin replacing gold as a store of value in investors' portfolios is accelerating. Mike McGlone believes that while precious metals always have a place in "jewelry and coin collections," bitcoin seems to be "pushing away the old hedge" and replacing the metal as an inflation hedge.

Some industry experts said that in the long run, with the advantages and values of bitcoin and other digital assets recognized by more and more institutions, in the future, some sovereign wealth funds and even some national central banks will include bitcoin in the scope of asset allocation, which may replace gold as reserve assets in the future.

It seems that more and more news is good for bitcoin. Biden's $1.9 trillion stimulus bill check was issued this week, and the US Federal Reserve's dovish stance boosted the market's optimism, and the bitcoin market's capital pool is expected to further expand.

"There are more factors to support the continuation of the current bull market. I believe cryptocurrency will exceed $100000. It is even expected to reach a high of $288000. " Said the founder of plan B.

Finally, a suggestion for those who are going to invest in bitcoin: you can play, but don't gamble with all your wealth.

(2021-3.19)