Reviewing the history of Bitcoin's benchmark anchoring
We should amplify our imagination
I actually do not quite agree with the so-called 'halving market'
I believe that the ways humans store wealth are continuously increasing
Gradually discovering that Bitcoin is the optimal solution
This has driven up the price of Bitcoin
In the more than ten years since Bitcoin's birth, its benchmark products have been constantly changing
It is evident that Bitcoin continually surpasses people's understanding, carrying a more grand future narrative
That's why everyone exclaims:
"A massive surge, you can't imagine!"
The pizza transaction in 2010, currency benchmarking
Initially, everyone's expectation for Bitcoin was circulation
Buying two pizzas with 10,000 bitcoins is a milestone
Bitcoin has gained physical exchange attributes and started to have value
Prices soared in 2013, speculative trading
The high point soared to nearly 8,000 yuan
At this point, Bitcoin was seen as a 'speculative target' with little technical recognition
Among most users, there is no difference between Bitcoin and postal currency cards
The market heats up quickly and cools down just as fast
Bitcoin in 2016-2017 — a safe-haven asset
Due to the instability brought by Brexit and Trump's election
A large amount of capital begins to buy Bitcoin
At that time, the People's Daily unusually published an article
(Bitcoin has become digital gold)
At this time, Bitcoin has become a tool to hedge against political uncertainty
Prices keep climbing
With this imagination's beginning, the subsequent prosperous ecosystem emerged
In 2018, Swiss banks began to disclose client data, marking the end of the era of bank secrecy
The privacy protection attributes of Bitcoin have been discovered
The role of resisting government censorship has been amplified
Although it started to bear, there are often large buy orders
Mainstream assets began to accept Bitcoin at this time
In 2021, Grayscale began to make moves, GBTC became the main channel for institutional entry
Massive monetary easing, as an 'anti-inflation asset', rising in sync with gold
Elon Musk's flag waving brought the industry into the sight of more people
This has made Bitcoin a global asset, reaching new highs again
In 2024, the approval of ETFs and Trump's election declaration will make Bitcoin a 'national strategic reserve'
BlackRock, Grayscale, and other Bitcoin ETFs saw daily inflows of $380 million, with a total scale exceeding $80 billion, surpassing gold ETFs
Bitcoin gradually siphoning off safe-haven funds from gold
Anchored as a political asset and strategic reserve, breaking $100,000 at this time
Currently
The cost of driving up gold is getting higher and higher
Market capitalization is more than ten times that of Bitcoin, yet can rise 30% in a few months, creating two Nvidia's
As the Russia-Ukraine war nears its end, funds in gold will also gradually flow out
Interest rate cuts are slowly approaching, and the faucet for monetary easing has started to drip
As Bitcoin no longer moves in sync with U.S. stocks, it seems all negative factors have been released
As of now, 63% of Bitcoin has not been moved for over a year
Whales accelerated buying when the price adjusted to over $70,000, rather than panic selling
The accumulation of various attributes has made Bitcoin seem like a decentralized global equity asset
When discussing any asset or target, Bitcoin is always included
Moreover, Bitcoin has not only broken previous highs every time
But at least a 300% increase in market value
So currently, Bitcoin at least has more than double the space
Using GROK, I've summarized predictions from major institutions, this year's price range is concentrated between $80,000 - $250,000, with a neutral expectation between $150,000 - $200,000
So, keep a calm mindset, now is the gliding phase, and it will take off soon
