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Bitcoin will surpass 100,000

The strong performance of Ether doubled its market share! Analyst: Still firmly believe that Bitcoin will surpass 100,000 In terms of market performance year-to-date, Ethereum's 320% rise has far exceeded Bitcoin's 54% rise. However, Mike McGlone believes that Bitcoin will soon be able to catch up with the rise of Ethereum, and is even expected to rise to a high of $100,000. Although Mike McGlone did not elaborate on why Bitcoin will follow Ethereum this year, he has stated that after the revised retracement in May, as many excessive speculations have been eliminated, Bitcoin's fundamentals this year remain sound. The Bloomberg Galaxy Crypto Index reported earlier that Bitcoin is currently in a state of "stronger, more environmentally, and less tight" compared to its peak in April this year. Due to these factors, Bitcoin is more likely to surpass the $100,000 mark this year, rather than fall back to the 2017 high. For a long time, people in the currency circle have believed that Bitcoin can compete with the U.S. dollar and become a global reserve asset. The main reason is that Bitcoin has a supply ceiling and is obviously more robust than the U.S. dollar. So far, Bitcoin's market share is only 47.17%, which means that traders have switched to investing in other digital assets. Ethereum is the biggest beneficiary. The market share has risen from 10.06% in December last year to 20.05%. The increasing dominance of Ether is mainly due to the explosive growth of Non-Fungible Token (NFT) and the prosperity of decentralized finance (DeFi), which has greatly promoted the adoption rate of Ether. At the same time, Ethereum developers are also actively expanding the blockchain and successfully completed the "London Hard Fork" upgrade Introduce improvement proposal EIP 1559, Through the method of destroying the fee, miners can only get the newly minted Ether as a reward, avoiding users to pay excessively high fees. Mike McGlone pointed out that it can be seen from past performance that Ethereum is likely to surpass Bitcoin in terms of market value by 2022 or 2023. Despite this, he still has confidence in Bitcoin and maintains a target price of $100,000.


Upbit became the first compliant exchange in South Korea

At present, all indicators in the market are pointing to Bitcoin is still in a bull market cycle, This is not because the currency price has risen, because the blockchain is completely transparent. We can see all the large capital positions at a glance. If we judge bulls and bears based on this, the accuracy will naturally be higher. Now that Bitcoin has exceeded 50,000 U.S. dollars, people who bought bottoms under 40,000 in the past few months will definitely feel very comfortable. Although the bull market will continue, we still have to guard against the statement made by the chairman of the US Fed at the Jackson Hole Annual Meeting in September. This is one of the most uncertain events next month. If Bauer directly implements the August reduction in debt purchase expectations, it will obviously have a shock to the market. However, I think that no matter how the Fed expresses its position, it will be difficult to tighten the currency in the next 2-3 years. The bull market in the crypto market will not be affected by short-term policies. We are in a stagflation cycle. This cycle cannot be changed by the Fed. Fidelity’s head of macro said that the current trend of Bitcoin is very similar to that of gold in the 1970s. He also gave a picture, which is quite useful for reference. You can do a simple study, and the conclusion is that it will continue to rise in the future: According to a data website, the adoption rate of Bitcoin in Afghanistan has risen sharply since the Taliban took control of the Afghan regime, Afghanistan’s cryptocurrency adoption index has become the highest among Central Asian countries, precisely because banks are facing cash shortages, there have been runs, and countless withdrawals and remittances have been blocked. Everyone has adopted cryptocurrencies for cross-border transfers, These are all important drivers of this round of bitcoin prices. There is also more important information. Upbit has become the first compliant exchange in South Korea. The exchange accepts Korean won deposits and withdrawals. Later, they must fulfill their anti-money laundering obligations and report suspicious transactions. This is the most important news that Bitcoin can successfully break through 50,000. South Korea has become the main force in the market. The sentiment is expected to continue to ferment and the market rise is expected to continue. Paypal launched a cryptocurrency service in the UK, allowing users to buy, sell and hold four cryptocurrencies on the platform, namely BTC, ETH, LTC, and BCH. Paypal acts as an exchange, expands its overseas footprint, and enables British investors to participate in the crypto market in compliance. Iran’s cryptocurrency mining ban will be lifted on September 22. First, summer is about to pass, and electricity consumption is reduced. Second, Iran can see the future prospects of the crypto market and does not want to miss it due to resource problems. Defi's lock-up volume exceeded US$157 billion, a record high. Recently, multiple chains have risen. Ethereum (ETH), BSC (BNB), Terra (Luna), Polygon (Matic), Solana (SOL), HECO (HT), Avalanche (AVAX) (ranked by lock-up amount) lock-up amount is at a historical high, and together contribute to the bull market in the currency circle. And Bitcoin's anchor currency lock-up volume has exceeded 13.4 billion U.S. dollars, which once again hit a record high. Most of these anchor coins are locked in these agreements across chains. The Big Four accounting firm Deloitte surveyed more than 1,000 financial professionals from multiple countries. 76% of financial professionals believe that digital assets will become a substitute for legal tender in 5-10 years. This is the cognition from professionals. This 5-10 year bonus period is worthy of our firm grasp.


Ways to trade Bitcoin

There are two main ways to trade Bitcoin: 1.Buying the cryptocurrency: Exchange office: The exchange rate or price on the platform provided by the exchange, the user can directly exchange,Simply put, it’s like going to a bank or a pawnshop to exchange currency. There will be an exchange rate between the buying price and the selling price. OTC over-the-counter market transactions: can be divided into two types, one is for both parties of cryptocurrency owners to conduct direct private transactions point-to-point, and the transaction method can be online transfer or face-to-face delivery. The other is to trade on a dedicated OTC platform, by placing transaction advertisements on its platform and waiting for others to place an order. 2.Trade Bitcoin without exchange: When you trade Bitcoin CFD, you do not need to operate directly through the exchange. Instead, a CFD broker obtains buying and selling prices from multiple exchanges on your behalf, and you trade at this price.Open a position for Bitcoin price movements,You only need to find a CFD broker. Bitcoin exchanges operate in the same way as traditional exchanges. Investors can buy or sell cryptocurrencies with each other. But there are few factors that exclude them: 1.Lack of proper supervision, public records, and the infrastructure needed to quickly respond to support requests. 2.The matching engine and server are unreliable, which may cause the market to pause or reduce the accuracy of execution. When you buy and sell directly from the exchange, you usually have to accept multiple prices to complete the order. Buying the cryptocurrency, expecting to profit by selling it, or investing in its price changes without owning the digital cryptocurrency. The latter is how CFD (Contract For Difference) work. CFD allow you to trade contracts based on prices in the underlying market. It is a leveraged product,This means that even if you put in a small initial deposit, you can get a larger position advantage. Although this can magnify your profits, it will also magnify your losses. No matter what kind of investment, it needs to be carefully observed before trading


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