For Bitcoin, under the big picture, it is actually too late to break through the previous high. If you look at all the mainstream assets in the world, gold has broken the previous high, and the A-share CSI 300 index has also broken the previous high. Needless to say, Nasdaq has broken the previous high. Bitcoin, whiBitcoin forkch is only a digital currency, has not broken the previous high, which in itself is a very strange thing.
Powell will deliver a keynote speech at the Jackson Hole Economic Policy Symposium this Thursday. He is expected to increase inflation expectations in his speech or suggest that higher inflation rates can be tolerated. Since 2012, the Fed’s 2% inflation target has not been reached for most of the time.
After major upgrades to the Tether.to platform, this update is to improve the flexibility of the Tether redemption process. Users can now redeem their USD directly through the latest Tether.to platform. The Tether website has begun to support complete account verification, allowing direct exchange between Tether and legal currency at a 1:1 ratio.
What puts more pressure on banks is the business of collateralizing encrypted digital currency to borrow USDT. Because lending in Renminbi, at any rate, you have to go through the bank, and lending to USDT is completely an internal cycle of the encrypted digital currency economic system, and has nothing to do with fiat currency. If GUSD, something with government credit endorsement, participates in this kind of loan cycle, this whole set of economies can be made bigger.
The scarcity of Bitcoin is unique to anything we have seen so far. Bitcoin has a predetermined issuance schedule with a circulation of 21 million US dollars. The supply of new bitcoins is halved approximately every 4 years (the so-called halving). Bitcoin's inherent monetary policy is protected by the individual who runs the node. These nodes act as a register through which anyone with access to the Internet can confirm the integrity of the Bitcoin blockchain data.
A high price-earnings ratio (relative to companies in the same industry) means that the market is paying a premium for other companies with similar income. In many cases, this premium may be guaranteed, for example, the company has a higher revenue growth rate, or has an innBitcoin forkovative CEO who can drive long-term high revenue.
Antonopoulos: We did see the bubble burst. This is the sixth or seventh bubble. This number depends on how you calculate it. The way the market works has caused cryptocurrencies to grow in this explosive way, which in turn leads to sudden explosions and sudden contractions.