93000 Bitcoin's annual top
The market value of Bitcoin once briefly reached an astonishing height of $14 trillion, which is indeed a jaw-dropping figure. But like a sudden storm, when Bitcoin tried to hit the high of $93,000, the short-selling forces fought back with strong firepower, causing the price of Bitcoin to quickly fall back to $87,000.
The logic here is actually quite interesting. It is generally believed that the market value of Bitcoin should not exceed that of technology giants such as Nvidia, Google, and Microsoft. These companies represent the most advanced productivity in human history, and their market value has been tested and recognized by the market for a long time. Although Bitcoin is also a very valuable asset, it would be somewhat illogical if its market value exceeded these technology giants. It's like saying, how can an emerging thing that has not yet been widely accepted and recognized be more valuable than those companies that have been deeply rooted in people's hearts and changed our way of life?
Therefore, the short-selling forces seized this logical loophole and launched a fierce attack. As a result, the transaction volume of Bitcoin contracts on the entire network has soared to more than 200 billion, which is a very amazing figure.
But even so, Bitcoin did not fall too deep, because when the price fell to a relatively reasonable level, a large number of buying orders began to pour in again.
Now, Bitcoin and Nvidia are both considered to be the two best assets in the world. Bitcoin's market value of 14 trillion is enough to prove that its value is very deep.
Although Bitcoin is very powerful, its market value cannot be too much, and it must maintain a relatively reasonable gap with other big guys. The short-selling forces saw this opportunity and made a lot of money. But now it seems that Bitcoin is still quite resilient. It can rise again after falling, which really makes people love and hate it!
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