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Golden Observation丨Forbes: Bitcoin is "likely" to break through $10,000 before halving.



Golden Finance Blockchain, May 3rd Bitcoin investors are preparing for the upcoming halving of Bitcoin block rewards. After halving, the number of newly created Bitcoins will be reduced by half, which will also cause circulation market austerity. This week, the price of Bitcoin has soared by nearly 20%, breaking through the $9,000 level for the first time since late February 2020. The biggest stimulus may be the upcoming block reward halving event in May.

Now, as Bitcoin's third "halving" event looms, a closely-watched cryptocurrency analyst says he thinks it's "very likely" that the price of Bitcoin will fall ahead of the expected May 12 halving date. The former climbed to the psychological $10,000 mark. The analyst, eToro bitcoin and cryptocurrency analyst Simon Peters, said:

Golden Noon News|An overview of important news at noon on January 14: 7:00-12:00 Keywords: LooksRare, USDC, Rhodium

1. The transaction volume of LooksRare exceeded 500 million US dollars within 24 hours, surpassing OpenSea by nearly 400 million US dollars;

2. The game guild YGG Discord community was attacked by hackers;

3. USDC surpasses USDT to become the stable currency with the largest circulation on Ethereum;

4. Communication University of China launched the first "virtual university" open on the Metaverse platform in China;

5. Encryption mining company Rhodium plans to conduct an IPO valuation of US$1.7 billion;

6. The locked position of Ethereum 2.0 reached 30 billion US dollars;

7. Robinhood CFO: Will not invest a lot of money in digital cryptocurrency in the short term;

8. Federal Reserve Board Director Waller: Three interest rate hikes in 2022 are still a good baseline forecast; [2022/1/14 8:49:08]

“We believe that the price of Bitcoin is likely to exceed $10,000 before the block reward halving actually occurs, and bullish investors are setting off a trading frenzy. Although the block reward halving itself will always drive prices higher, Bitcoin Coin bulls seem to be running out of time and want to get ready.”

Golden Lecture | Lu Guoning: As a financial infrastructure, blockchain is very consistent with the long-term policy of financial openness: In the 19th issue of the Golden Lecture "How to Implement the 2020 Financial Public Chain" held today, Lu Guoning, co-founder of Nervos, said that the blockchain industry As a financial infrastructure, the block chain is actually in line with the country's long-term policy of financial opening. However, financial opening actually has two meanings. The first layer is the opening of financial services, and the second is the opening of financial capital. At present, the blockchain is most suitable for the former, that is, the scene of financial service opening, while the opening of financial capital is at this stage. Not suitable. Regardless of the blockchain, the opening of financial services has been a basic system we have adhered to for many years. The opening of financial services refers to lowering the threshold for financial service institutions, providing more valuable financial services, and developing healthy competition , allowing ordinary users to enjoy better services at a lower cost, and continuously improving the level of financial services through competition, these are good things that can directly benefit the public. As a financial infrastructure, the blockchain can advance on the road of financial opening, whether it is in payment, transaction, insurance, lending, etc. And I think all financial institutions around the world are also paying close attention to whether blockchain can help China push financial opening to a new height, and China's financial service market also needs to constantly release positive signals to attract more financial service institutions to provide better services. [2019/12/25]

About ten days later, the number of BTC rewarded by the Bitcoin network to miners who maintain security will be halved for the third time, from 12.5 BTC per block to 6.25 BTC. The Bitcoin block reward halving occurs roughly every four years until all 21 million BTC on the Bitcoin network are “mined” — though that may not happen until the next century.

Jinse Finance live report Zhang Jianguo, the founder of Quantum Bitcoin: the biggest difficulty of the blockchain is technology research and development: Jinse Finance live report, at the 2018 World Blockchain Summit held on April 3, Zhang Jianguo, the founder of Quantum Bitcoin Said: "The biggest difficulty of blockchain at present lies in technology research and development. Blockchain technology is actually a historic subversion, a subversion of a technological revolution. Then we look back at the Internet for so many years, from a simple web page at the beginning , At that time, we still used the Three Musketeers to make web pages. Later, web 2.0, and some very mature templates that we can use today, we built a website in one minute, and it was very fast. The technology in the circle is also constantly iteratively developed, from the most From the first application of Bitcoin to our actual commercialization, I think the biggest difficulty is the technological breakthrough. With the development of three to five years or even ten years, our technology continues to innovate and develop, I believe that in the future Time, blockchain technology must be able to achieve a commercial level, mainly on the technology to work harder” [2018/4/3]

It is worth mentioning that Simon Peters also cited some other "tailwind" factors that may push up the price of Bitcoin in the next few weeks, including:

1. Miners will insist on holding their newly mined bitcoins;

2. New users will choose to buy Bitcoin;

3. Some people who are worried about inflation will also flood into the cryptocurrency market.

Simon Peters added to explain:

"As for how far bitcoin prices can go, we believe bitcoin prices can easily exceed The previous high of $19,000 was tested as investors were looking for a safe haven in traditional assets."

In the year following the 2016 Bitcoin block reward halving, Bitcoin skyrocketed from less than $1,000 to nearly $20,000 in just 12 months. However, while the halving of the previous block rewards heralded a rise in the price of Bitcoin, some people believe that the price of Bitcoin does not necessarily rise.

Recently, due to the severe damage to the US economy caused by the new crown virus epidemic, the Federal Reserve has also adopted unprecedented rescue measures to support the economy from a downturn. However, with the rising unemployment rate and the "crazy" increase in currency issuance, more and more people are looking for alternative exposure to markets that have nothing to do with the US dollar. Some believe bitcoin could further cement its status as a so-called safe-haven asset due to the global outbreak of the new coronavirus. In fact, it has been found that during times of economic uncertainty, investors are indeed buying Bitcoin alongside gold.

Not only that, according to a report previously released by Bloomberg, Bitcoin is preparing for a massive bull market. The Bloomberg report, titled "Bitcoin Maturation Leap," notes that the bitcoin market is maturing, saying that "if history is any guide, bitcoin will gain momentum with the block reward halving." growth drivers."

As of this writing, according to data from CoinMarketCap, the price of Bitcoin has risen to $9,052.77, a 24-hour increase of 1.68%, with a market capitalization of over $166.2 billion.

Part of this article is compiled from Forbes


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Golden Observation丨Forbes: Bitcoin is "likely" to break through $10,000 before halving.

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The article is contributed by the blockchain analysis of Niu Qi.