PANews December 2 news, according to Jin Ten reports, the article states that recently, the price of Bitcoin has continued to rise, once reaching $99,000 per coin, setting a historical record. Yu Jianing, co-chairman of the Blockchain Committee of the China Communications Industry Association and honorary chairman of the Hong Kong Blockchain Association, stated that in the short term, Bitcoin may seek new support or resistance levels amidst fluctuations, while in the medium to long term, its price direction will depend on multiple factors such as global liquidity, economic prospects, and regulatory attitudes. Yu Jianing analyzed that due to the relatively fragmented nature of capital in crypto assets, the market is easily manipulated by large capital, leading to behaviors such as 'dumping' or 'pump and dump,' which in turn can trigger irrational actions from retail investors. The article mentions that our country's regulatory authorities have always made it clear that they regard activities related to cryptocurrencies as illegal financial activities, maintaining strict regulatory measures on cryptocurrencies from various aspects, including crackdowns on Bitcoin mining and cutting off the funding chain for cryptocurrency speculation. "Overall, as the popularity of Bitcoin and the cryptocurrency market increases, new risks and uncertainties also rise. Investors should respond to the current market with a rational and prudent attitude, closely monitor regulatory dynamics and market changes, and avoid blindly following trends," reminded Zhao Wei, a senior researcher at the OKX Research Institute.
