The voice of the bigwigs adds confidence to the bullish trend of Bitcoin prices

Changsha Evening News (Reporter Zhang Yu) Brexit, US election, blockchain ... Who is the big guy who can combine these hot words together? It is Bitcoin, which has a sharp market trend this year and has attracted thousands of eyes recently.

Market Conditions: Bull market is not over + large fluctuations In the past June , Bitcoin became one of the most active assets in the world, and the most active trading region may be China. The reporter logged into Huobi.com, the largest Bitcoin trading platform in China, and saw that Bitcoin started a rapid rise on May 27, and hit the 5,000 yuan integer mark on June 17 , hitting a two-year high of 5,179.99 yuan on the same day . The increase in this wave of main rising waves exceeded 70% . In the following four days from June 20 to 23 , the price of Bitcoin plummeted continuously, falling to a minimum of 3,480 yuan, a drop of more than 30% . Fortunately, with the strong support of the 60 -day moving average, Bitcoin rebounded on June 24 , setting a stunning increase of 15.34% on the same day .

If we look at the monthly K -line chart, we can find that this round of Bitcoin bull market should have started in the second half of 2015, and its increase in September 2015 was as high as 42.74%. In March 2016 , a huge transaction volume of 201.5 billion yuan was released, and the closing price of that month was 2698.88 yuan . Due to the support of the capital side, Bitcoin's rise seems to be unfinished, and it has shown a trend of large rises and small falls in recent trading days. As of 17:00 yesterday , the Bitcoin transaction price on Huobi.com was 4516 yuan, and the transaction amount was close to 2.7 billion yuan.

Helping to halve the output + bigwigs pay attention to industry analysis, the main factor supporting the price of Bitcoin in the near future is " halving the supply " . According to the provisions of the Bitcoin open source software protocol, the block reward of Bitcoin will be halved every 210,000 blocks. At present, more than 415,000 blocks of Bitcoin have been mined , and there are less than 5,000 blocks away from the halving of Bitcoin output . According to the current mining speed, it will be achieved in about half a month, and then the Bitcoin block reward will drop by half. In other words, under the premise that other conditions remain unchanged, the output of Bitcoin will be cut in half. The continuous expansion of the audience is also a major driving force for the increase in Bitcoin prices. In the past, people who invested in and traded Bitcoin were basically a few geeks and people engaged in computer-related industries. As blockchain technology is known and spread, Bitcoin has been favored by more and more people, and investors in various fields are accelerating their entry, including manufacturing and finance.

According to foreign media reports, US presidential candidate Hillary Clinton said in the election campaign that blockchain will lead a new generation of technological revolution and the US government should support the development of blockchain technology. As early as April last year, Rand Paul , who was also a candidate, announced that he would accept Bitcoin as election funds. It is worth mentioning that Citibank, one of the largest banks in the United States, recently released a research report stating that Bitcoin and other digital currencies should not be regarded as a disruptive threat to banks, credit card networks or traditional remittance providers, but as a supplement to existing services. The speeches of the bigwigs also added confidence to the bull market of Bitcoin.