The popularity of Bitcoin remains unabated, and now is the best opportunity to get on board!

Will Bitcoin be able to break through 100,000 again? Is it a chance to get on board or jump off now?

Today's article will discuss from the following three aspects what kind of expectations we should have for the future of Bitcoin.

Personal opinion: The correction is only temporary. Bitcoin is worthy of being regarded as a long-term and safe investable asset, and the current price is worth continuing to bet on.

In the early days of the development of Bitcoin, most governments around the world took a wait-and-see or even disapproving attitude towards it.

However, during the 2024 US presidential election, Trump publicly expressed his support for including Bitcoin in the national reserve assets. This marked a significant change in the government's attitude. It was precisely because of Trump's firm support for Bitcoin that the price of Bitcoin increased significantly before and after his victory.

Crypto analyst PlanB analyzed and pointed out that: starting from March 2025, it is expected that countries such as Bhutan, Argentina, and Dubai will successively adopt Bitcoin as legal tender. Beginning in April, under Trump's promotion, the United States will also launch a Bitcoin strategic reserve. Other countries will follow suit, especially non-EU countries will join this wave.

Although there is still a long way to go before Bitcoin is widely used as a national asset, Trump's constructive attitude towards cryptocurrencies during his four-year tenure is undoubtedly another kind of "government endorsement".

On November 9th, the Bitcoin fund IBIT under BlackRock, the world's largest comprehensive financial services group in terms of asset management scale, welcomed an unprecedented net subscription amount of $1.1 billion, and its total asset scale exceeded that of the flagship gold trust fund IAU (the second-largest gold fund in the US stock market, with the first being the SPDR Gold ETF (GLD) of State Street Global Advisors, with an asset scale reaching $76 billion) of the same company. For comparison, the total assets of IBIT reached $34.3 billion, while IAU continued to remain around $33 billion.

Compared with the long history of gold as the most important safe asset and the background that the relevant ETF has been listed for nearly 20 years, IBIT was only listed in January this year. In just nine months, this alternative asset ETF has attracted $27 billion in capital inflows, which shows the attractiveness of Bitcoin.

Obviously, investors' interest in spot ETFs is accelerating. More and more capital is choosing to directly bet on spot assets.

— From October 31st to November 10th, MSTR purchased about 27,200 Bitcoins at a price of about $2.03 billion, which is the largest number of tokens purchased since the company announced the purchase of 29,646 Bitcoins in December 2020. This strategy has helped MSTR's stock price increase by more than 2,500% since August 2020.

— And for Coinbase, one of the largest exchanges in the United States, its daily spot CVD reached $143 million, approaching the previous high of $152 million set on March 13th.

Recently, the Mt. Gox exchange has been frantically selling off Bitcoin. Fortunately, the large-scale selling lots have all been bought back by Americans at high prices, and the price and value of Bitcoin have not been affected at all.

By the way, trading in the Bitcoin market is uninterrupted 24 hours a day. The recent big rises all happened when we were sleeping, with Americans buying frantically. It can be said that Americans are the main force driving the price of BTC to rise and the main factor in price promotion.

Here, I have to mention the story of "Mt. Gox" to fellow investors.

"Mt. Gox" was one of the most famous exchanges in the early Bitcoin market.

However, unfortunately, in 2014, this exchange was reported to have suffered a hacker attack, resulting in the "loss" or theft of 850,000 Bitcoins (worth about $450 million at that time), and suddenly announced bankruptcy. Although a part was recovered later, this event caused countless investors to suffer losses and triggered huge market turmoil at that time.

Later, Mt. Gox was taken over by the Japanese court and entered a long process of bankruptcy liquidation and victim compensation. It was only in recent years that there has been a gradually advancing compensation plan - that is, to compensate the affected users by selling the recovered Bitcoins.

Here, I also want to advise everyone again that when buying coins, you must buy from regular brokers. If you are worried about the coins being stolen, just buy the spot.

The market has been closely watching the selling of the remaining Bitcoins held by "Mt. Gox" because the quantity is not small, about 140,000 Bitcoins.

Generally, large-scale selling would cause panic and lead to a stampede of selling. However, the sold Bitcoins have all been taken away by the United States, and the price has not dropped but risen instead. This actually shows Trump's action of developing the United States into the largest reserve country of Bitcoin.

It is possible that Mt. Gox will continue to sell off when the price is high in the future, but everyone doesn't need to panic.

Moreover, the Bitcoin compensation will be a gradual process, rather than releasing all Bitcoins into the market at once. Therefore, this "gentle selling" helps to reduce the impact on the market.

The Mt. Gox incident and its subsequent compensation plan have already been "old news". The market has long known that these Bitcoins will be released sooner or later, so this information has already been reflected in the price to a certain extent.

Overall, the current market state can be described in one sentence - the buying power is as solid as a rock, and the selling pressure can hardly shake it.

That's all for today's content. If you have any different ideas, you can have a friendly exchange in the comment section.