When will Biterhong open its exchange? (Is Bitcoin really red for rise and green for fall?)
When will Biterhong open its exchange? When will Biterhong open its exchange?On
When will Biterhong open its exchange? When will Biterhong open its exchange?
On May 8, 2020, during the 2018 China Blockchain Technology Innovation Summit, miners discussed mining issues. Biterhong’s founder, Zhang Jian, believes that the current problem in the mining industry is the inability to conduct transactions. At this time, a decentralized exchange and decentralized financial system are needed to ensure the security of funds. Therefore, the price of Bitcoin rising is not sustainable, but this situation will not last forever. At the same time, we also see many people asking what will happen when the price rises. Will it affect the market situation if the price does not fall?
Regarding the development trends and future directions of exchanges, Biterhong has its own plans. First, it wants to be a comprehensive, global, and professional service platform. Second, it wants to build an entire ecosystem, including mining farms, community operations, and more.
Is Bitcoin really red for rise and green for fall?
In the past week, the price of Bitcoin has risen nearly 5%, surpassing $12,000. However, just two days ago, Bitcoin experienced a sharp decline as the market fell by more than 10%.
According to data from Coinmarketcap, the total global market value of digital currencies last Friday was approximately $2.34 trillion, more than 10 times the $288 billion during the same period last year. This led to a significant overall correction in the cryptocurrency market.
However, for market investors, if Bitcoin can effectively rebound and maintain its upward trend, it may continue to correct downwards in the short term. Currently, this data has dropped to its lowest level since December 2018. But compared to before, this indicator also shows positive signs as institutional demand for BTC continues to increase, rather than being caused by consistent sell-offs or bear-bull conversions. Therefore, we believe that the current price trend of Bitcoin will be a relatively stable process without significant fluctuations or drastic oscillations.
Of course, there may also be an extreme situation: when Bitcoin starts to decline, some altcoins and Ethereum have already fallen more than 90% from their historical highs; when investors see the value of altcoins falling, they will buy Bitcoin.
In fact, despite the recent slowdown in the rate of Bitcoin’s rise, it seems that Bitcoin has not been significantly affected throughout 2020. There are even reports indicating that U.S. President Biden may impose regulatory measures to restrict the trading of cryptocurrencies.
Another question is whether “Bitcoin will rise to $1 million” (Bitcoinist).
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