After the market experienced a correction some time ago, the market has been extremely anxious in the past few days.
The reason is that some news in July made people afraid and worried.
The first thing is the compensation incident in Mentougou. A few days ago, a "reliable person" revealed that the BTC stolen in Mentougou before July would be compensated.
A total of 140,000 BTC has a total market value of more than 8 billion US dollars based on the current price.
So retail investors are worried that if the 8 billion BTC is compensated, it will be sold and then cause a market crash.
But I personally think that this is excessive worry, because the following points need to be considered, rather than listening to the news and letting others manipulate it.
1. 140,000 bitcoins are worth more than 8 billion US dollars at the current price, but 10 years ago they were only 210 million US dollars. When did the government become a philanthropist, helping you keep them for 10 years, and then return them to you when they appreciate?
Is it compensated according to the number of coins before, or according to the value at that time? It is not explained.
2. 10 years ago, the blockchain industry was not recognized by these countries around the world. After the Mentougou Exchange filed for bankruptcy, will the recovered bitcoins really be recognized by the government and then returned to retail investors?
In my opinion, Bitcoin was not yet recognized by the law at that time. At that time, the government was in the hands of the government, and it was not necessarily that the government would compensate.
3. Let's take a step back. If compensation is really required, whether it is compensation for the value of 210 million US dollars at that time or compensation for the current value of more than 8 billion US dollars, it is not said that all compensation will be made in July. Is it a one-time payment? Or in batches? None of these are explained.
So, if you don't understand technology and can't read the market, you will always be led by the main force. If the market rises, you think it's awesome, and if the market falls, you will curse.
Just because the market fell some time ago, and now this so-called "bad news" is spread, the leeks think that there will be a big drop next. Such transactions are completely arbitrary and go with the flow.
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