legendary trader

Chapter 959 960 break through the limit
At this time, the price of Bitcoin has just touched 6.889 yuan and then started a correction. According to the upward trajectory, the position of the lower track of the upward channel is around 6.827 yuan, which is only a few cents away.

Chen Fan didn't respond to Zheng Xiaopang's question, but just chattered, letting Zheng Xiaopang look at the graphics by himself.

The currency price continued to fluctuate and go down, getting closer and closer to the lower track of the channel.

Chen Fan didn't want to break anything right away, but he was also thinking about how to attack later.

Killing down, killing down through the ascending channel, creating a short trap or going up directly?
Chen Fan quickly vetoed the plan to create a short trap. After all, the currency price continued to rise, and it was becoming more and more difficult to scare people now.

After waiting for a while, after the currency price fell to around 6.83 yuan, it resumed its offensive and rose again.

According to the previous trend, this time the highest price of the currency can be around 6.92 yuan, and the low point will move up to around 6.85 yuan, but Chen Fan is already planning to break the upward channel.

At this time, players on the European side have already started to participate in Bitcoin transactions, and it is already morning there.

This time, the price of Bitcoin began to pull back after it rose to around 6.92 yuan, and the price of bitcoin formed a support around 6.9 yuan.

Of course, this was also done on Chen Fan's will.

After that, the currency price started to fluctuate sideways at 6.9 yuan as the resistance level.

As the sideways time got longer, the bills entering the market began to increase slowly, without checking the account number, Chen Fan also guessed that the bills entering the market at this moment might come from players from the European side.

Now this trend, the rise in currency prices is already very clear.

Seeing more and more buy orders, the sideways trend of the currency price also began to float upwards. This was not caused by Chen Fanrang, but caused by the buy orders entering the market at this moment.

At this point, Chen Fan knew that it was almost time.

"Push up, sweep to 7 yuan and 5."

There is no move, and the price of the currency has not been pushed to a high point by the new buy orders, which shows that by this time, the market sentiment has risen, and it only needs a little push to make those buy orders follow up.

And as the person behind the scenes who controls all this, he only needs to open up the price space for them.

It is similar to working in the stock market, that is, when operating Maojian shares.

Chen Fan didn't feel that he was manipulating the rise of the stock price. His job was actually to break the stockholders' imagination of the stock price.

Although the traders on Zheng Xiaopang's side must have been the driving force behind the stock price rise when it reached the top, the steady growth of the company's profits and high dividend rate are the decisive forces for the steady rise of the company's stock price.

In the past, why those companies had to pay dividends from time to time, in fact, it was not because of the stock price.

After the stock split, the stock price will be ex-rights, and if the stock price is cheaper, it will be more attractive to shareholders to buy, thereby pushing up the company's market value. This is the logic of listed companies now.

Even if the company's profits are mediocre, as long as the distribution conditions are met and the stock split is carried out to the maximum extent, the company's market value will also rise.

Because the domestic market often does not look at the price-earnings ratio, nor does it look at the dividend rate, nor does it pay attention to the fundamentals of the company. They are more concerned about the stock price.

As long as the company's stock price is low, they dare to pull the stock price to 3 or 5 yuan, because it is generally considered that the company's stock price is lower than 5 yuan, which is considered a low-priced stock.

The big market that is launched every few years often starts from the skyrocketing stock prices of high-priced stocks to open up room for stock prices to rise, and then a large number of institutional market makers hunt down these low-priced stocks, starting with the elimination of 2-yuan stocks, gradually eliminating 3-yuan stocks, 4-yuan stocks, Even to 5 yuan shares.

Therefore, as long as the company's stock is split, that is, the stock is transferred to increase the stock, and the stock price is continuously lowered, the stock will not be abandoned by the market, but will instead increase in market value. Through such a simple operation, listed companies are often labeled as "" Conscience Enterprise" and "High Dividend Company" brands.

The reason for this kind of gameplay is actually because the funds need to speculate on stocks, and the transfer of shares is a very good subject for speculation.

However, due to the increase of listed companies in the past few years, the number of stockholders has risen a bit fast, surpassing the growth of the number of institutions and hot money. I feel that institutional funds are a bit too much to speculate. There have been stocks that have been repeatedly sent and transferred, but there is no capital to invest in them. In the end, the stock price continued to fall due to ex-rights.

However, now there is only such a symptom, that is, the upper management of the market has noticed this problem, and the middle and lower levels are not sensitive to it.

There are signs that the lower limit of the stock price has been repeatedly compressed, and what Chen Fan has to do now is to repeatedly push up the stock price of high-priced stocks to open up that ceiling.

And now, in the Bitcoin market, Chen Fan also sees it in the same way.

Who would have thought that the price of something without the slightest support could rise to a few yuan, more than ten yuan.

Because as long as a computer and some electricity bills are spent, a bunch of bitcoins can be generated. In fact, Chen Fan really doesn't think this thing is useful, and it's cheap.

Chen Fan believes that there are still many people who have such an idea, but the reason why Chen Fan decided to speculate in Bitcoin is not because it is cheap, nor is it because the acquisition cost is very low, but because of its total amount limit.

Things are rare.

Even if those cultural relics and antiques with high prices are worth much, in fact, it is only because of their scarcity that the prices are high.

Their price formation mechanism is actually similar to Chen Fan's speculation on Bitcoin.

Just after Chen Fan issued the order to push up, the price of Bitcoin began to climb upwards driven by the buy order. The speed was not fast at first, until the price of the currency exceeded 6.95 yuan, the market's rising speed was significantly accelerated.

The continuous large orders impacted the selling orders at the upper selling price, and the Bitcoin market broke through the 7 yuan mark in heavy volume.

Led by Xie Chaoyang and Rao Yichen's continuous purchase orders into the market, the currency price continued to hit new highs. During this period, there were very few sell orders entering the market, and the number was not large. Only Cai Han made a sale order to see a little bit. A little past.

Reluctant to sell, although most players know that Bitcoin is useless, but after the price continues to rise, as a vested interest in the price increase of Bitcoin, they will naturally not easily throw out their chips.

At the same time, they also voiced and promoted Bitcoin within the scope of their influence.

The first batch of players who entered Bitcoin, maybe they really liked Bitcoin because of the design mechanism.

But now, as more and more people get involved, no matter what channel they get the information from, they are actually more utilitarian.

Especially after the global exchange was launched for trading, the price of Bitcoin continued to rise. After they were surprised to find that this thing can still be turned into money, the mentality of market participants actually changed unconsciously.

They are no longer as pure as the first players, and no longer pay attention to blockchain technology, but just use this technology for packaging to make themselves taller. In fact, many players who participate in Bitcoin transactions now do not Know what a blockchain is.

Chen Fan didn't know what it was, but he didn't bother to brag about it. He only needed to tell the people below, and many people would help to brag about it, attracting more people in.

And they, like the latter group of people, just want to take advantage of the low transaction threshold of the global exchange and earn a little money to spend on the rising price of Bitcoin.

When the price of Bitcoin rose to the price he requested, the main buying orders that pushed up the market gradually began to decrease, and the price increase of Bitcoin began to slow down. Finally, a short-term head structure was completed around 7.62 yuan, and the price of the currency began to slow down. slow down.

This time, the price of Bitcoin fell back to around 7 yuan before starting a sideways trading. Such a large withdrawal also scared some people. After the price of the currency fell below 7.5 yuan, the number of sell orders entering the market obviously increased to a certain extent.

But this time, Chen Fan did not let the price of the currency plummet, but let Xie Chaoyang and the others continue to use small purchase orders to gradually absorb these selling orders at a low level.

Of course, he will not let people take all the orders at high prices, but only buy a little bit, and then place the buy order at a lower position, so that the sellers can't help but cancel the order and continue to press down.

Because the currency price did not fall fast, but the downward trend was very firm, and it really sucked out a lot of bargaining chips.

However, Chen Fan didn't intend to keep the bitcoins he got, but to release them after raising the price at night.

In fact, during this period of time, pushing up the currency price will definitely absorb a lot of bitcoins, and some will be released after each peak, but it is impossible to release all of them, because if they are all thrown out again, the currency price will generally be smashed Back to the starting point.

During this period of promotion, they have taken in more than one hundred thousand bitcoins intermittently. Fortunately, the currency price is not high at this time, and their millions of funds are still enough.

It took a long time for this adjustment, until after 6 o'clock, after Chen Fan and Zheng Xiaopang went out for dinner, there was still no upward trend.

With the fluctuation of the currency price, the trading volume of the market also began to shrink.

Although at this time, players around Huaguo and Europe have already gone online one after another, to be honest, many players are still happy to see the price of the currency soaring before, but not many people actually made a move.

It was Chen Fan who heard from Rao Yichen that the currency forum on Oulu was very lively at the moment, and many players flooded into the forum to discuss whether the price of Bitcoin could continue to rise.

Before, when many players analyzed and discussed the price of Bitcoin, most of them believed that the reasonable price should be around 1 meter yuan, which is about 4 or 5 yuan in Chinese yuan.

Although everyone says that Bitcoin is good, it is a new type of currency spawned by technological progress. In the future, it should be adopted by official agencies of various countries and become the mainstream currency in the world.

However, my family knows my own affairs.

In fact, everyone knows very well that there is really nothing to brag about about Bitcoin.

Not to mention the production mechanism, although it seems that a perfect cycle can be formed, but in fact the things that support the currency price are false.

Legal currency, in any case, has national credit endorsement and government coercion in it. This is the value of legal currency.

Among the currencies in circulation in various countries, the rice dollar is a little special. It is issued by the Rice Fed, but the Rice Fed is not a government department, but a private enterprise, a bank that specializes in money business.

Currencies in Western countries were initially issued by some private banks, but at that time, the currency recognized by everyone was still hard currency such as gold and silver, so the circulation and use of the currency were all guaranteed by the credit of private banks.

It's just that with the development of society, most of the note-issuing banks in Europe were gradually nationalized and became the central banks of all countries in the world.

In the United States, although the government's control over the Federal Reserve Bank of the United States was strengthened or even controlled during the economic crisis of the last century, the ownership has not changed, and it is still a private bank.

And because of the government's control, the Mi Fed has gradually become a specious special existence, that is, it is not a government agency, but it has been endowed with certain government functions.

What needs special attention is that almost all inherited currencies were not legal tender in the early days, and their initial form of existence was actually a kind of interest-free and unconditional exchange certificate of deposit or gold ticket issued by the bank. Almost all currencies were exchanged with gold. Or silver linked.

It was only in modern times that these currencies were given restrictions by the governments of various countries, and the fixed exchange between them and precious metals was canceled successively, and they became legal tender as the limited assets designated by various countries.

To convert these fiat currencies into precious metals, they can only be traded in the precious metal market, and gold and silver have begun to have floating prices.

The meter dollar and most continental currencies are pegged to gold, while the Chinese dollar was originally pegged to silver.

And look at Bitcoin, it has nothing, no precious metal endorsement, and no legal currency status granted by various countries. This is why most players just treat Bitcoin as a collectible or gadget. Fortunately, it is because of the total amount of Bitcoin. Restriction, if it can be distributed indefinitely, it is really worthless.

It is also because of a guilty conscience, so when players discuss the price of Bitcoin in the forum, most of them use the main international currency in circulation to measure and price, and it is more appropriate to give 1 bitcoin to trade 1 meter.

No matter how high it is, I dare not think about it.

This is a more rational thinking, and it is also the unified understanding of most people involved in the Bitcoin circle.

Today, when these people went online and saw that the price of Bitcoin had broken through the limit they thought, they were naturally very surprised, but after the surprise, they also had deep worries, worrying that the market would collapse at any time.

Of course, this is also because most of them think about problems from their own perspectives, without considering what changes will happen if capital operates behind the scenes.

Limitations, everywhere.

However, although they are worried that the price of bitcoin will collapse, greed still occupies their brains before there is any sign of a collapse. No one wants to sell their bitcoins at this time, and most of them still want to continue to hold coins To be raised.

Let the currency price continue to fluctuate back and forth between 7 yuan and 7.5 yuan. It is definitely not enough to keep the price around 7 yuan. It is necessary to let the price of Bitcoin fluctuate and maintain the popularity of the market.

During these shocks, the price of Bitcoin has also aroused the enthusiasm of off-market funds several times, and the price of the currency was once pushed past 7.5 yuan by the scattered buy orders in the market.

It's just that after all, it was the behavior of stragglers, and the currency price quickly returned to the consolidation space after a brief breakthrough.

This trend continued until after 8 o'clock in the evening. By this time, Chen Fan and Zheng Xiaopang were still in the resort and had not returned. They had been quietly waiting for the time to increase again.

(End of this chapter)