Bitcoin price continues to rise

In the cryptocurrency industry, there are several experts who say that the current market is already entering a new bull market (bull market).

Arthur Hayes, CEO of BitMEX, a popular margin trading platform used by so many crypto asset investors, explained the reason in a recent tweet .

Mr Hayes pointed out that although the bitcoin price temporarily dropped below $ 7,000 (about 770,000 yen), it recovered to more than $ 8,000 (880,000 yen) a few days later, in June And the September contract (contract) is said to be in the state of contango (* 1).

(* 1) Contango: A technical term used in crude oil markets and futures trading.

A phenomenon in which the price increases as the futures delivery period gets longer.

They are confident that Bitcoin is in a bull market, "In spite of the BTC price falling from 920,000 to 770,000, it recovered again to 880,000 in a short time."

This indicates that there are multiple investors who are very bullish on current bitcoins.

It is not only Bitcoin that prices have risen significantly.

Recently, the prices of several other altocoins have also risen sharply, and most of the cryptocurrency ranked in the top of the market capitalization ranking have maintained the "3%-24%" increase rate in the past 7 days. You

This indicates that there are several bullish investors not only for bitcoin but also for other cryptocurrencies.

Barry Silbert, CEO of Digital Currency Group, an institutional investment company focused on digital assets based in New York, USA, said Bitcoin Price increases are said to be very different from those at the end of 2017. The price rise and the 2017 bubble are very different in terms of "infrastructure". You now have custodians, trading software and software based on the law. And because people are educated about asset classes, things are very different this time.

As of 2017, the environment for cryptocurrency and blockchain technology has not been well developed, and the entry of major companies that are currently focused on in the industry has not been announced, and development of services for institutional investors And so on did not go so much.

However, such a situation is also changing dramatically now, and many well-known companies in the world have launched projects related to virtual currency and blockchain.

Most people around the world are aware of the words "cryptographic currency" and "bitcoin" and are revisited in the current situation where many large-scale projects are expected to be developed further Expectations and attentions are coming from all over the world in a full -fledged bull market where they are going to.

You mean that the market base has been established.

Honestly, it is immature as a market, so it is highly conceivable that there will be several ups and downs in the future.

However, it is hard to think that this market will end "in an immature".

As mentioned above, it can be considered from the fact that each major company or nation has entered this market.

It is a market that can still make a long-term look.

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