Yao Qian, the director of the Digital Currency Research Institute of the Central Bank of East Country, once publicly stated that using Bitcoin as currency would undoubtedly be a disaster. However, after his fall from grace, it was discovered that the bribe he received was Bitcoin!
The importance of gold is no longer as significant as digital gold. After comparing the assets of spot gold ETFs with those of Bitcoin ETFs, it was found that Bitcoin ETFs are the fastest-growing ETFs in history. Bitcoin is redefining the investment landscape and challenging the long-standing dominance of gold. We live in a world of new technologies. All physical assets, such as gold, may become unusable. Survival of the fittest is crucial. Previously, mainstream investors doubted that Bitcoin was a Ponzi scheme; now, the financial world is undergoing tremendous changes.
The world's largest stablecoin issuer is expected to exceed $10 billion in net profit in 2024. The CEO of Tether stated in an interview that the company has invested more than half of its net profit this year.
As for Tether, continuously printing USD essentially means continuously purchasing BTC. Currently, BTC is in a correction phase; although it hasn't reached the true mid-cycle bottom, it is not far from this stage's bottom.
There are also many altcoins that are in corresponding bottom areas, and everyone should dare to place buy orders in batches at the bottom. ETH around 3300 has seen significant institutional buying. As long as it continues to fall, institutions will continue to buy. Last week, BlackRock and Fidelity bought 100,000 coins at an average price of around 3375.
The crypto market is rising again, driven by USDT, which is being massively issued again, and institutions and capital are coming in to buy USD. Continuous bottom fishing and rallies are happening. I believe this scene should occur in mid to late January.