William: Grayscale buys a lot of coins, why does the price of the coins not rise but fall?
Editor's Note: This article comes fromChatting with William (ID: William1913), Author: William Chen, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Chatting with William (ID: William1913)Chatting with William (ID: William1913), Author: William Chen, reproduced by Odaily with authorization.
Bitcoin, which took off vertically all the way, has stopped flying recently. After staying at more than 30,000 US dollars for more than ten days, many people have become very anxious..."Having a century-old dream in mind, watching the minute K line" is my evaluation of them.It's not necessary, everyone's cost is below this, so why worry.
But to be honest, half a year ago or even three months ago, I really didn’t expect that after “Bitcoin fell below 32,000” one day, my Weibo comment area would be so desperate:It's amazing, it will fall below 100,000 knives in the future, isn't it the same?However, I think it is worth answering this question that many people ask:"Huidu has been buying cakes, and once bought thousands of tens of thousands, why is the currency price still falling?"This week they have added more than 30,000 pancakes, worth about 1 billion US dollars.Such a charge is really strong, but why does the currency price not move?The reason is simple, and this actually proves one thing: the rise in currency prices is not at all driven by them.I said a sentence before, "It is Bitcoin that makes Grayscale, not Grayscale that makes Bitcoin." Why are we so mythical about Grayscale in 2020? It is not just that we are optimistic about Grayscale, but we are optimistic about the type of "new Bitcoin players who mainly buy spot and make long-term holding plans" represented by Grayscale.The gray scale is only one of the bright cards, and we can't see the others "temporarily".
The rise in currency prices is driven by the continuous buying and holding of such institutions, including Grayscale, which drives other Wall Street institutions and retail investors to buy together and work together to promote it.To put it so mysteriously, it is actually due to the general trend. After all, we are still in the halving market. Bitcoin is a new type of asset, and the consensus must be getting higher and higher. The power of consensus is the real power.Grayscale, institutions, microstrategy, etc., are actually a boosting force for building consensus. They buy coins and show cards, which are a huge driving force to promote the formation of Bitcoin consensus.And these, from the perspective of the overall trend, are very valuable, you just need to stretch the timeline to see:This trend should not be too obvious.Many people ridiculed that "it is impossible for institutions and Wall Street to take over", and they are right. What really promotes Bitcoin is not institutions, not Wall Street, but every participant. Behind the so-called "institutional cattle" is also the promotion of every participant. There is no such thing as taking over, just like you would now say who took over Apple, Amazon, and Moutai? You won't use the word "acceptance".So we must respect everyone's efforts and trends.Bitcoin has hit a record high, and it has risen more than ten times from the lowest to the highest in a year. Isn't it time to take a breather?They are all adults, who can keep doing that without a sage's time? You say yes.
Oh yes, they have one more question:"When the premium is gone, will Grayscale not increase its position?"
This is obviously not the case, but it is useless to say that there is a premium now, let’s talk about it when there is no premium, and leave it to time.By the way, there is another interesting summary about the GBTC premium:
It's all down to 6% now, guys.Well, that’s it for now, if you still think it’s not enough to pay back bitcoins, then sell them, Grayscale can at least take your order and say thank you.
"There is no fear at all!"Full of positive energy, it makes people's blood boil.And then here is the comment he gave me yesterday:
How should I put it, I hope that everyone will invest, and really just don't want to be superior. You can be optimistic, you can be full of positions, but you must think clearly every time you make an investment decision. Are you really, really, really sure that you want to make this investment, and can you calmly face the losses it brings in the future? ?
If you are still not sure, then please be sure to invest cautiously, or try a small investment first.In the end, I still need to breastfeed again. Many people need confidence. Many people also said that they relied on my milk to survive the three or four thousand years.. I want to say that it is better not to praise me so much. Friends who are still at Siwan, you are yourselves, you can do without me.Obviously, the general trend of Bitcoin is good, and the recent news from various sources is quite positive. For example, it has been rumored that BlackRock entered the market like this:And the real circulation of Bitcoin is still decreasing:Don't clearly see through the general trend, but be frightened by the few points in front of you.
