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BitOffer English

Bitoffer: 1st Anniversary of “Black Swan” on March 12th. Time to Remove the Dump Curse

Today is the first anniversary of the March 12th for Black Swan in the Cryptocurrency market. On the eve before March 12th last year, influenced by Covid-19, the panic hit the global financial market. China’s market, U.S. stocks, cryptocurrencies, commodities, and other markets collapsed collectively. Influenced at the background of the US’s massive printing to rescue the market, the global financial market gradually entered a stable.

From March 8th to March 13th in the year 2020, Bitcoins pushed down from $9,000. In less than a week, the lowest once fell to $3800. The total liquidation was over $50 billion. Bitcoins encountered a liquidity crisis, major exchanges collectively shut down the service, and investors were extremely pessimistic, believing that the Cryptocurrency market would collapse.

However, opportunities and despair coexist. Bitcoin dropped to 3,800 dollars and then quickly REBOUNDED After more than a month of slow climbing, Bitcoin once again broke the MA60 which is also called the bull-bear boundary, and returned to be above $9,000. After the third halving of Bitcoin, its scarcity has become more obvious. The influx of a large number of institutions has boosted the Bitcoin’s further strength, creating an unprecedented super bull market. So far, the price of Bitcoin has reached as high as $58,000.

Will the curse of “Black Swan” on March 12, 2021, be removed?

On the eve of 3.12 in 2021, many investors started to concern about the pulling back happen again. They worried that the market panic will spread again. Lucian, the chief analyst of BitOffer Exchange, said that in fact, the cryptocurrency market has undergone earth-shaking changes in the past year. The most important thing is that institutions enter the market to maintain the overall stability of the market, which means that predicting schemes are hard to arrange anymore.

Before the Bitcoin breakthrough to $20,000 happened, Bitcoins always kept up and down. After buying, HODL always brought a loss. There is a saying in the cryptocurrency market, that is, nowadays there seems rarely to appear the ups and downs state, which thanks to the entry of international investment banking institutions such as Goldman Sachs, Grayscale, Fidelity, and Citigroup, as well as the public purchase of a large number of listed companies, the overall stability of the market has been improved, which also shows that the Cryptocurrency market is gradually maturing.

At the same time, Coinbase applied for Nasdaq to be public in the market, Its valuation surpassed that of the Intercontinental Trading Platform, the New York Stock Exchange, which was as high as 100 billion U.S. dollars, laying the foundation for the future development trend of the entire cryptocurrency industry. In the future, more and more cryptocurrency exchange platforms will apply for listing. The BitOffer platform is currently actively deploying relevant listing plans and obtaining relevant compliance licenses. It is expected to become the second compliant Bitcoin exchange to be public after Coinbase.

Moreover, on March 7th,2021, Biden failed his plan to stimulate $1.9 trillion. It means there will amount of cash going into the crypto market. The buying treasures of investors will be beneficial to make a historic breakthrough in Bitcoins. Therefore, there is no need for investors to take more care about the coming of March 12th. At present, the upward trend of Bitcoin remains very good. If there is a corresponding correction in the short term, it is still a good entry point. In terms of the general trend, we believe that Bitcoin will rise to more than $100,000 this year.

According to the data of BitOffer, the global crypto investors tend to buy Bitcoin’s ETF funds for the reasons that Bitcoin’s ETF funds support buying the ups and downs of Bitcoins and costs free fees and free liquidation. The profits of ETF funds are 3–17 times higher than spot trading. So it is the best way to buy ETF funds. Now the market value scale of Bitoffer platform investors is more than US$1 billion.

Above all, it can be seen that investors are willingness to buy and invest in Bitcoin ETF funds is increasing day by day.

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