Will the Currency Circle in 2024 be the Last Bull Market?

The bull market in 2024 is also called the institutional bull, and many institutions have deployed to enter the market. Some are directly buying Bitcoins through Microstrategy, some holding Bitcoins indirectly through Grayscale Bitcoin Trust, and those like Cathie Wood, are optimistic about the future of bitcoin and hold bitcoin stocks such as Coinbase.

What is your impression of the organization? What do you think is the investment style of the institution? The institutional investment styles we are familiar with are mostly long-distance running types, which can be held for 10 years, and the profit is 10 times or even 1000 times.

Here comes the question. In this round of Bitcoin’s rise, what is the opening price of institutions?

The fair price is roughly between 28,000 and 38,000 US dollars. Currently, some institutions that enter the market early make 300% profit; and for those who enter the market later, some have a floating loss of 24%. On the whole, it is neither a situation of loss nor profit. For institutions, is it an investment failure, or is there a hidden meaning?

Some become institutions or magnates because they have the resources, financial strength, and vision that ordinary retail investors do not have. Thus, for institutions, the investment in Bitcoin can be regarded as a thoughtful thought after due diligence. Here is an option for you to start looking for ways to spend bitcoin.

Looking at the number of people entering the currency circle, the FCA estimates that 2.3 million British adults now hold encrypted assets, exceeding last year’s by 1.9 million. When Bitcoin first emerged, the primary user circle was between technology and geeks.

However, the myth of instant wealth and vital financial attributes has attracted many speculators to participate, and the increase in the number of people boosts confidence in the development of Bitcoin.

For a product, effective growth of users often means the inflow of funds. If the adequate number of people exceeds 5,000, there will always be a few extremely wealthy people. Can the growth of the Bitcoin user realize one’s entry?

From the policy aspect, when Bitcoin has grown to a trillion dollars in market value, it can indeed be said to be different. For instance, India went from having a comprehensive ban on Bitcoin to abandoning it and plans to classify cryptocurrency as an alternative asset category; El Salvador uses Bitcoin as a legal currency, giving Bitcoin a certain degree of compliance. Up to now, the possibility of directly wiping out Bitcoin is low. Instead, discussing suitable solutions and exploring the path of Bitcoin supervision is the current mainstream.

Under the multi-party game, the popularity of Bitcoin and other digital currencies is significant. The current surge of Bitcoin is undoubtedly a good converter, which magnifies the greed of human nature to the extreme. Therefore, people with dreams of getting rich can’t help but enter the circle.

Before this, a listed big data analysis company in the US, Palantir Technologies, announced on a conference call that it would accept Bitcoin as a payment method. Furthermore, Metromile, a Nasdaq-listed car insurance company, allowed customers to use Bitcoin to pay for insurance premiums.

There are many more. Thus, we can say that Bitcoin is becoming more abundant in application scenarios. For Bitcoin, this is beneficial and harmless as it can even increase users. Visit the Bitiq official site for more information on how to get started with bitcoin

Of course, more people are willing to analyze the follow-up market from the candlestick chart of Bitcoin in the past eight years. Before hitting an amazing price, it may not be surprising for Bitcoin to drop below $10,000.