The day before the news of the approval of the bitcoin spot application landed, the Chairman sent a tweet warning about the risks of virtual assets. It was this statement that made the market think that the probability of the approval of the bitcoin spot application increased, and the bitcoin price broke through the high point of the US dollar this morning. Not only was the market sentiment so high, but the applicant was also making adequate preparations. The established asset management company will be the first bitcoin spot applicant to get a final reply. At the end of last year, it sold all its remaining positions and used about 100 million US dollars. Half of the funds purchased may be used as a liquidity transition tool to keep the beta value of bitcoin and bring it into the bitcoin spot market or the one being applied for. All parties are ready to go. If the United States approves the bitcoin spot, it also means that since 2000, the organization has been applying for the bitcoin spot but has been rejected. It is expected that the United States will not relax the bargaining power from Wall Street, which will bring the superposition effect of bargaining power. If the spot is released, public private equity funds and individual investors will be able to look like. Just like buying stocks, it is easy to participate in the virtual asset market in the traditional stock exchange. Holding bitcoin directly removes the restriction of compliance channels. The market effect brought by the amount of funds in the short term is only on the one hand. More importantly, the United States will become an industry rulemaker by enhancing its bargaining power in the encryption market. With the transfer of bitcoin mining computing power from China to the United States, the global share of bitcoin computing power in the United States has ranked first in the world, which means that the United States has mastered its bargaining power on the supply side. Figure The source of the global bitcoin calculation plan, if the spot passes, means that the position and transaction data of the institution will be disclosed, which will provide more market transparency for the regulators and market participants. Through this information, the regulators can better supervise market activities and reduce the risk of market manipulation and fraud. Let's make an analogy as follows. Although we know that every drop of water can be easily traced and verified on the chain, it is more difficult for the regulators to supervise every drop of water. If we collect these water droplets, put them in glass containers and put them down, such regulatory requirements will be given to each glass, so that the regulatory agencies will better formulate rules and manage them. For the United States, if it passes, it will lay the foundation for the United States to be a rulemaker and market leader in the encryption market. Regardless of whether Bitcoin passes the spot or not, the United States will not easily give up this huge advantage. There is a compliance channel, but there is no compliance channel. In addition, the expected passing of Bitcoin spot is also very clear on the supply side. The competition among miners on the obvious supply side is also very fierce. According to the data analysis of Ouke Cloud Chain, the hash rate has increased at an average growth rate in the past three months. Compared with the average monthly growth rate in the same period last year, it can be seen that the competition among miners on the supply side is more intense. From the perspective of operating costs, the data shows that the unit computing income of miners has been declining at a constant rate in the past three months. In the same period, the average monthly growth rate is about, but the supply side is decreasing in unit income. The market is still selling to maintain the operating cost. The new market of bitcoin miners' unit computing power income source is ready to go, and the original market is more firm, although the news has been waiting for a long time in the market. From the data on the chain, it can be seen that because of the different time and risk preferences, new investors are more willing to endure the opportunity cost of waiting for the convenience of compliance channels, and they are more willing to give up the potential profits held in the early ambush chain, while the original market participants, long-term investors, bitcoin supporters and institutional investors who have long been optimistic about Bitcoin are more. What is important is the long-term value of Bitcoin, because some institutions that are optimistic about Bitcoin in the early days have participated in it in other ways, for example, they have sold all their remaining positions and invested in Bitcoin futures instead of investing in Bitcoin gray scale, and they are also seeking to change to the fundamental technology development and market demand that they may be more focused on Bitcoin, which is relatively unaffected by short-term market fluctuations and approval news. According to the data observation on the chain of Ouke Cloud, we can see that these news are not. It has brought too much excitement to the ecology on the chain. In the past three months, the total number of addresses on the bitcoin chain has shown a linear upward trend. The average monthly growth rate is the same as that of the same period of last year. In addition, through the observation of the total number of active addresses, we find that it is not the high number of active addresses when the news about bitcoin broke out, but the relatively high number in the two time periods of year, month and year. The source of daily active addresses of bitcoin is blooming, and the era of barbaric growth has ceased to exist. Now that you plan to start again, even if the spot in the United States fails to pass the market, it will not return to the era of barbaric growth. It is said that there are currently eight markets in the world that allow the operation of spot cryptocurrency, including Canada, Germany and Switzerland, as well as tax havens such as Cayman Islands and Jersey, but it has not aroused the same passion as waiting for the spot approval in the United States. This also proves once again that the superposition effect brought by the opening of supply terminals and channels in the United States has a great impact on the market, which attracted much attention in the year when the story in the United States is confusing. Hong Kong has already taken that step, and on October, a number of circulars were issued to express that it is ready to accept the application for the recognition of virtual assets. Taking Hong Kong as an example, according to the annual private wealth management report, by the end of the year, the total value of assets managed by private banks and private wealth management in Hong Kong was HK$ 100 million. If there are funds through bitcoin spot, about US$ 100 million will flood into the market. According to Ou Ke Cloud Chain Research Institute, several financial institutions are planning to issue bitcoin spot in the first half of the year. The degree will also force the United States not to easily reject the ready-to-go spot comparison. There are two differences between Hong Kong and the United States about bitcoin spot, which are worthy of market attention. In the circular letter dated March, Hong Kong said that it would support the cash and physical models to provide investors with more choices. The United States adopts the strategy of compulsory cash redemption to reduce the risk of market manipulation. Cash redemption is also a disguised form of control, which will also squeeze its profit margin for risk-free arbitrage, because if. Trying to manipulate market prices through operations in the primary and secondary markets may lead to market instability. In addition, in the application for physical redemption, market makers can receive bitcoin in exchange for shares to improve tax efficiency. Financial institutions on the other side of the Pacific also hope to reach multiple channels. It is reported that they have sought approval for cash and physical redemption to take care of investors who already hold bitcoin but seek convenience in market transactions and taxation. At present, the United States has submitted an application for bitcoin, and plans to trade it in one of the three exchanges, Nasdaq Chicago Board Options Exchange and new york Stock Exchange, which accounts for the largest proportion. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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