Digital currency market changes a lot in the 24/7 trading. As a global trading variety, it is influenced by national policies and investors come from all over the world, so it is difficult for us to guarantee the sustainability of the trend. The impact of China's policy tightening on markets last year was self-evident. While the us government is much more open to digital currencies, there are still many restrictions and doubts. So far, the SEC has not approved the application of an etf, while the CFTC has not indicated the emergence of a second or third contract one year after it approved the BTC futures contract. For the digital currency market after the crazy ico, the total market value has dropped from the peak of $800 billion to less than $140 billion, and this phenomenon may be difficult to change in the short term. About prospects for incremental funds to enter the stadium, I personally think that, like other financial securities market development, if digital currency market can end up legal compliance, admission will be the inevitable result, so institutional investors over the past 20 years the development of China's stock market we can insight into this process, the a-share market starting from the retail of 20 years ago, to the early 2000 s of the funds into the market, institutional, and after 2015, access to international capital, the market gradually from individual investment is given priority to development to the agency to give priority to. In the digital currency market, this process is also inevitable (provided that the market is recognized by most governments), so how do we view the current trend of bitcoin before institutional money enters the market?
First of all, prop up the market to be financed, the basis of digital currency markets can be sustained higher I think retail money is hard to reproduce in 2017, on the one hand is a lot of original ico project is considered to be false, a blow to investor confidence, but in the past 1 year stock of these items is poorly, most tokens by air, even regular project, because raising mostly eth, if they are not at the beginning of 18 blocks in a timely manner, the situation is very bad, could support 2 to 3 years, shrink by more than 50%, before there is no new capital injection, These projects are very likely to fail. So when institutional money enters will be the basis of the bull market in digital markets, and there is no sign yet that institutional money is ready to enter (I am referring to legitimate, formal funds).
Second, the trading uncertainty created by the proliferation of exchanges. There are now more exchanges on the market than tokens, something that was not available in the traditional world of finance in the past. In addition, the current exchange is centralized without any regulatory measures, which also restricts the entry of formal institutional funds. Therefore, the idea of opening bakkt on intercontinental exchange comes into being. I think in the future, it will develop into a situation where traditional exchanges set up digital currency exchanges, large exchanges apply for formal financial exchange licenses, and small exchanges go bankrupt. In addition, the exchange has multiple functions including investment bank, securities firm, regulatory agency and bank, etc. Whether it can be recognized by the government or not is not enough. In terms of security, it cannot be justified.
Third, block chain project can replace existing technology system, which may be important cornerstone of the development of digital currency, after all, a large number of ico is just based on technology, become a real sense of the currency and long road, but as a science and technology innovation project, like the Internet to the traditional industries, can be the gravedigger of the Internet? If much of this is about tinkering with the Internet industry's technical support, it is unlikely to be a good story. There is also great uncertainty about the fate of digital currencies, such as BTC, LTC and dash, which have been recognized as alternative or complementary currencies. After all, they are challenging the market position of legal tender, without government endorsement, or even competing with the government for a share, the ultimate fate is still unknown.
Finally, we see the market is too small, the developing course of 10 years for an industry is in the immature stage, and is a large decentralized scene, digital currency would tear should be existing payment system, and this goal is far beyond the Internet, and before any one industry cannot match. If realized, it may be a leap of human society, comparable to the industrial revolution.
To sum up, we should have a rational analysis of the judgment of this market, rather than get lost in it. In the case that many uncertainties cannot be eliminated, the digital currency market is a clear speculative market. For investors, they need to control their own investment proportion and operate in the logic of institutional investment, rather than in the way of Chinese dama (setting objectives, stopping gains and losses, and operating in the band).
First of all, prop up the market to be financed, the basis of digital currency markets can be sustained higher I think retail money is hard to reproduce in 2017, on the one hand is a lot of original ico project is considered to be false, a blow to investor confidence, but in the past 1 year stock of these items is poorly, most tokens by air, even regular project, because raising mostly eth, if they are not at the beginning of 18 blocks in a timely manner, the situation is very bad, could support 2 to 3 years, shrink by more than 50%, before there is no new capital injection, These projects are very likely to fail. So when institutional money enters will be the basis of the bull market in digital markets, and there is no sign yet that institutional money is ready to enter (I am referring to legitimate, formal funds).
Second, the trading uncertainty created by the proliferation of exchanges. There are now more exchanges on the market than tokens, something that was not available in the traditional world of finance in the past. In addition, the current exchange is centralized without any regulatory measures, which also restricts the entry of formal institutional funds. Therefore, the idea of opening bakkt on intercontinental exchange comes into being. I think in the future, it will develop into a situation where traditional exchanges set up digital currency exchanges, large exchanges apply for formal financial exchange licenses, and small exchanges go bankrupt. In addition, the exchange has multiple functions including investment bank, securities firm, regulatory agency and bank, etc. Whether it can be recognized by the government or not is not enough. In terms of security, it cannot be justified.
Third, block chain project can replace existing technology system, which may be important cornerstone of the development of digital currency, after all, a large number of ico is just based on technology, become a real sense of the currency and long road, but as a science and technology innovation project, like the Internet to the traditional industries, can be the gravedigger of the Internet? If much of this is about tinkering with the Internet industry's technical support, it is unlikely to be a good story. There is also great uncertainty about the fate of digital currencies, such as BTC, LTC and dash, which have been recognized as alternative or complementary currencies. After all, they are challenging the market position of legal tender, without government endorsement, or even competing with the government for a share, the ultimate fate is still unknown.
Finally, we see the market is too small, the developing course of 10 years for an industry is in the immature stage, and is a large decentralized scene, digital currency would tear should be existing payment system, and this goal is far beyond the Internet, and before any one industry cannot match. If realized, it may be a leap of human society, comparable to the industrial revolution.
To sum up, we should have a rational analysis of the judgment of this market, rather than get lost in it. In the case that many uncertainties cannot be eliminated, the digital currency market is a clear speculative market. For investors, they need to control their own investment proportion and operate in the logic of institutional investment, rather than in the way of Chinese dama (setting objectives, stopping gains and losses, and operating in the band).
30年的A股投资经历，水平虽然不高，但经验足够丰富。熊市避坑，牛市逃顶，对于新手可能有所帮助。
需要每日分析，请搜索微信号peter-tqbj，需要股市投资建议搜索星球{抱团取暖，迎接A股牛市}，或者星球号64802450
需要每日分析，请搜索微信号peter-tqbj，需要股市投资建议搜索星球{抱团取暖，迎接A股牛市}，或者星球号64802450