Monday, November 23, 2020

Bitcoin mining reappears prosperity, digital currency concept stocks rise

 Bitcoin bull market is coming again? Is it a new starting point for the digital currency industry, or a repeat of the 2017 bubble?

On Wednesday, the price of Bitcoin broke through $18,000. According to Coin Gecko's data, its market value has set a new record of US$336 billion.

This is also the first time the price of Bitcoin has exceeded $18,000 since the end of 2017. Although it soon fell below this threshold, it is still at a historical high. As of press time, Bitcoin's latest offer is $1,7996.5. According to analysts at Deutsche Bank, Bitcoin has only five trading days in history to close above $17,000.

Since the beginning of October, Bitcoin has risen rapidly and the price has risen by about 70%.

And this round of Bitcoin's hot market has also driven the rise of digital currency concept stocks .

On Thursday, Canaan Technology , the world's second-largest manufacturer of bitcoin mining machines and listed on Nasdaq , surged 8.72% . On Friday morning, Zhongjia Bochuang , which is mainly engaged in the maintenance of communication networks, had a daily limit shortly after the opening , or the rise in Bitcoin may be beneficial to the expansion of its computer room maintenance business. SVA Express participated in the central bank's digital currency ATM free convertibility research and development project, and it has also risen by 2.21% in the past five days.

While Bitcoin's momentum is breaking through, central banks' enthusiasm for digital currencies continues to rise .

According to an IBM report, in 2019, 73% of central banks around the world expressed support for central bank digital currencies, and 38% of central banks are actively exploring and experimenting with blockchain technology. According to data from the Bank for International Settlements, as of July this year, at least 36 central banks around the world have issued digital currency plans , and legal digital currencies in China and other countries have begun small-scale pilot projects Recently, Goldman Sachs predicted in a research report that the total annual payment of legal digital currency in China in the next ten years will reach 19 trillion yuan , accounting for 15% of total consumer payments.

It is foreseeable that countries in the world will launch more and more channels for digital currency compliance. With the steady development of blockchain technology, the proportion of digital currencies included in the mainstream asset allocation will also be pushed up. The market can continue to pay attention to digital currency-related companies, especially core companies that are closely related to technology research and development.

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