"Thanks to Tesla founder Musk for his divine assistance, allowing Bitcoin to finally stand at the $50,000 mark during the Spring Festival." A Bitcoin investor left a message in WeChat Moments with emotion.
This situation has become a common phenomenon, and there have been many cases in which institutional investment has been used to achieve low buys and highs.
Because many investment institutions realize that more and more industries are planning to accept Bitcoin as a new payment method, which will further increase the demand for Bitcoin. In addition, as global central banks continue to increase monetary easing and countries continue to increase the scale of fiscal stimulus plans, more and more investment institutions use Bitcoin as a new tool to fight inflation.
"Nowadays, it has become extremely simple for institutions to speculate on Bitcoin to make profits-as long as large institutions enter the market, many institutions will collectively push up the price of bitcoin." A Wall Street hedge fund manager involved in bitcoin investment told reporters.
The biggest capital drivers of Bitcoin's surge are mainly Wall Street hedge funds and family offices. Their investment logic is that the supply of Bitcoin is limited (the supply is halved every four years)
Therefore, we have a clear understanding that following the whales (institutions, families) is only temporary, with only one purpose, to obtain the desired profit. My opinion is to hold it for a long time. Don't follow blindly. It is likely to be a bottomless pit.