“In the face of uncertainty, inner determination is the best guide. -- Reda Leo, founder of Bridgewater Associates (Principles)”
The price of Bitcoin has surpassed $90,000, up 12.6% in the past 24 hours. When Bitcoin enters uncharted territory, the process of callback may be long and complicated. Before long, the market will become a "game battlefield" of liquidation and speculation.
After Trump won the 2024 US presidential election, the market predicted that Bitcoin would reach $100,000 by the end of the year. Currently, Bitcoin is only 13.6% away from the $100,000 target. The derivatives market saw more than $487 million in forced liquidations within 24 hours, mainly liquidating some over-leveraged shorts.
Although the price of Bitcoin has corrected in the short term, long-term investors do not need to worry. Positive expectations before Trump's inauguration on January 20 will continue to drive Bitcoin up, and funds are also shifting from technology stocks and the U.S. bond market to Bitcoin.
In the previous article (US election uncertainty frenzy, Bitcoin ups and downs at the cusp!) - I explored the views and speculative decisions during the bull market correction. These observations are not only based on market data analysis, but also combine technical indicators and macroeconomic factors to help investors make more informed decisions in volatility.
Furthermore, Bitcoin not only benefits from positive market sentiment, it also has unique advantages.
On the one hand, more and more national institutions view Bitcoin as a store of value and a hedge against inflation - the US Strategic Reserve Bitcoin Act may be promoted, prompting other countries and companies to follow suit.
On the other hand, regulated financial instruments such as ETFs, futures and options make Bitcoin more acceptable to mainstream investors, and demand is infinitely amplified.
The current net inflows of Bitcoin spot ETFs have hit new highs again and again, and this trend is expected to continue.
The current market value of gold is approximately 15 trillion US dollars, which is 10 times that of Bitcoin. Time will prove that Bitcoin still has great growth potential as digital gold.
Base and Solana, the two chains with the highest adoption rate right now, had the highest net flows over the past week, with SUI close behind. These inflows are a useful indicator of where venture capital is flowing.
Just as I explained in the group on November 8th - I am extremely optimistic about the Solana chain ecosystem.
This is proven to be the case, with SOL up 22%, ranking in the top 4% in weekly returns since its inception. Its ecosystem’s top tokens RAY, KAMO, CLOUD and DRIFT all rose by more than 50%.
Solana will continue to catch up with Ethereum!
Note: All content represents the author's personal views only, is not investment advice, and should not be construed in any way as tax, accounting, legal, business, financial or regulatory advice. Before making any investment decision, you should seek independent legal and financial advice, including advice on tax consequences.
