#During this period, the market has not only been guided by technical analysis but also driven by significant news events, which often contain profound policy or market expectations behind them.
First wave of increase (30,000 to 60,000):
Triggered by the launch of BlackRock's Bitcoin spot ETF, this event marks a significant increase in Bitcoin's legitimacy and acceptance in traditional financial markets. ETF products enable institutional and ordinary investors to access the market more easily, increasing market liquidity and demand.
Second wave of increase (50,000 to 100,000):
Trump's election victory brought about the so-called 'Trump trade' effect, which not only involved political fluctuations but also profoundly impacted investors' risk appetite and market sentiment. At that time, market expectations for Trump's policies strengthened, further driving the risk appetite for assets.
Possible driving factors for the third wave of increase:
The policy of the U.S. adopting Bitcoin as a national reserve that you mentioned is indeed a significant piece of news that could trigger a new wave of increase. This is not just a technical or market event but a systematic, macro-level policy shift. If Bitcoin is indeed incorporated into national reserve assets, its status and value will be completely different, which will have profound effects on the global cryptocurrency market.
Perspective of institutional investors:
Top institutions like BlackRock and MicroStrategy continue to adopt a strategy of buying Bitcoin because they see its long-term value as 'digital gold.' Their investment outlook is often forward-looking, taking a 'buy and hold' strategy with Bitcoin while ignoring short-term market fluctuations. This long-term 'game' has only just begun, as Bitcoin has the potential to become an important component of future asset allocation within the global monetary system.
Analogy to the gold market:
You mentioned the peak of gold prices in 1980 and the subsequent volatile decline, followed by the launch of the BlackRock Gold ETF in 2003. This example is quite fitting. After a long adjustment period, gold still achieved nearly tenfold growth, driven by institutions like BlackRock. This not only proves the influence of the U.S. market on commodities and assets but also hints at Bitcoin's potential growth trajectory in the future.
Outlook for the future:
As U.S. power gradually emerges in the cryptocurrency space, especially in terms of policy and regulations, the market's maturity will continue to rise. In the coming years, if Bitcoin can maintain its institutional investment...
The advantages driven by investors and policies are still worth noting due to its growth potential. At the same time, the 'U.S. compliant tokens' you mentioned are also a direction worth tracking, which means that the normalization and legalization of cryptocurrencies will bring greater market space.
Finally, the Marvin you mentioned (possibly referring to tokens related to Dogecoin or similar projects), although it has a low market value, could also become a potential investment opportunity due to strong community support and specific event-driven factors. The community effect is very important in the cryptocurrency market, and support from celebrities like Elon Musk can indeed become a market catalyst.