Chapter 1220 [Driving them to the cryptocurrency market]
The current depreciation pressure on the offshore RMB in the foreign exchange market appears to be caused by the continued strength of the U.S. dollar index and the flight of foreign capital. In fact, it is the flight of domestic capital, enriching people, colonizing people, and those who are afraid of being liquidated and operating huge amounts of wealth.
Transfer overseas.
In particular, the rise of Fang Hong and Qunxing Capital has led to a surge in the number of these people fleeing with their money.
However, the continued reduction of foreign exchange reserves is obviously what the external international short forces want to see most, because the continuous reduction of foreign exchange reserves means that the state's ability to intervene in the foreign exchange market will continue to weaken.
As far as the current situation is concerned, in Fang Hong's eyes, it is inevitable that the offshore RMB will reverse and strengthen in the future, and he is not worried at all about how big a wave the international short sellers' counterattack at the end of the year will cause.
No matter how the interest rates are raised next year, the U.S. dollar index will reverse and weaken, because if America is new, everyone will undoubtedly "withdraw" from the group. He will set off a wave of anti-globalization and engage in America.
Card priority was given, which in turn impacted the U.S. dollar index, which began to weaken. As the U.S. dollar index continues to decline, the offshore RMB exchange rate price will strengthen even if it remains unchanged at its current position.
What Fang Hong is really focused on now is to intercept the large-scale loss of wealth from the mainland. This is a huge amount of money that can easily start in the trillions. This is especially true for those people whose debts remain in the mainland and whose assets have been transferred overseas.
Colonists include insiders, those who take advantage of others, and opportunists who take advantage of the chaos.
At the end, Fang Hong glanced at Tian Jiayi: "In view of the large-scale transfer of domestic capital overseas, we severely cut off this group in the foreign exchange market at the beginning of the year. Most people will not take risks now. They cannot be so quick.
Forgot what happened at the beginning of the year..."
After thinking for a moment, Fang Hong immediately ordered: "Drive these domestic investors who are trying to flee to the cryptocurrency market and let them use this channel."
Tian Jiayi heard his words and wondered: "Isn't it possible? The world's largest encrypted digital currency trading platform Mt. Gox is now operated by Qunxing. Although the equity structure of the platform has been given to Merrill Lynch, do they have the guts to use this channel?
Aren’t you afraid we will ambush them?”
Fang Hong smiled and said: "Don't worry too much about this. Just launch an unprecedented super bull market for encrypted digital currencies represented by Bitcoin. The current legal vacuum in this area can be exploited, and the country is in other levels.
It is either blocked or strictly cracked down on large-scale capital outflows. Only encrypted digital currency is a new thing and can accommodate large capital flows."
"Next year Matrix Quantum will follow up on the technical level. Chen Yu over there will open source the second-generation AI large model, tell a good story with it, and create a wave of hype about blockchain, artificial intelligence, the concept of virtual world, and virtual world
Digital property rights, virtual currency trading systems, etc., have boosted Bitcoin’s bull market and given it endless space for phenomena.”
With Fang Hong's current ability, or the control of various resources currently held by Stars Capital, it is easy to artificially launch a super market for digital currencies represented by Bitcoin.
Choosing to push the cryptocurrency market out of the bull market at this time is also the right time and the right place. This year is called the "Year of the Blockchain" because the value of the blockchain is truly recognized by the world this year. Britain, Sweden, Denmark, Canada
, India and many other countries have successively announced that they are stepping up the development of national digital currencies based on blockchain technology.
What Fang Hong has to do is to add fuel to the fire and make this craze even hotter. It will be much easier to push encrypted digital currencies out of the bull market at this time of 2017, because there are more people playing, and big names are entering.
There are too many venues.
Even in the previous life, Bitcoin was on the rise throughout 2017, with the price once soaring to US$20,000. Now it is not difficult for Fang Hong to add another fire to push the price to US$35,000.
After a while, Tian Jiayi continued: "The current market price of Bitcoin is about US$733 per coin. Since you plan to launch a bull market here, how high do you plan to push the price?"
The current market price of Bitcoin is in a state of being cut in half and then cut in half compared to its historical high.
Fang Hong thought for a while and then said the target price: "Push it to the range of US$30,000 to US$35,000 in the next year. This bull market will last for at least one year, that is, by December next year."
The month peaked.”
Hearing him say this number, the beautiful assistant couldn't help but widen her beautiful eyes and looked at him in astonishment: "Oh my God, are you pushing the price to 35,000 US dollars?"
The current price of Bitcoin is US$733 per coin. If it rises to US$35,000 within a year, it will surge 46 times, and its market value will be pushed to US$735 billion, converted into RMB
That’s an astronomical number of over 5 trillion.
Fang Hong didn't pay much attention to the astonished beautiful assistant. He then ordered: "In addition to Bitcoin, Ethereum has also been raised to a height of 3,000 US dollars. The main types of encrypted digital currencies are these two types. Other categories can be developed.
Do it, but you don’t have to work hard to make it work.”
Ethereum was launched in 2015, but at that time the cryptocurrency market was at the bottom of the bear market, and almost no one knew Ethereum. Even in January this year, the total market value of Ethereum, a little-known blockchain variety, was
Only $70 million.
But in just two months, its market value soared to a maximum of US$1.15 billion, a 16-fold increase, because the blockchain concept became very popular.
On April 30 this year, the project application "The-DAO" based on Ethereum started crowdfunding. In just 28 days, it raised 11.5 million Ethereum coins with a total value of more than 150 million US dollars, becoming the largest amount in world history at that time.
crowdfunding project.
This chapter is not over yet, please click on the next page to continue reading! Ethereum has also rapidly risen to prominence, becoming second only to Bitcoin among many encrypted digital currencies.
However, the current price of Ethereum has fallen below 7 US dollars, which has been cut in half from the historical high in the first half of the year. The reason is also that there is a problem with The-DAO. On June 18 this year, there were multiple vulnerabilities in The-DAO smart contract.
Was hacked. 3.6 million Ethereum worth more than $60 million was invested in a DAO sub-organization, which has the same structure as The-DAO.
At that time, the price of Ethereum dropped directly from more than 20 US dollars to below 13 US dollars. Many people tried to break away from The-DAO to prevent the Ethereum from being stolen, but they were unable to obtain the required votes in the short term because the designers never thought
The amount would be so large that all Ether coins would be stored in a single address.
In fact, there have been a lot of turmoils in the cryptocurrency market this year, with the theme of "life never stops, endless tossing". Going back one month, on May 14 this year, the HK digital currency exchange Gatecoin was attacked
, more than $2 million worth of ether was stolen.
More than two months later, on August 4, the digital currency exchange Bitfinex also suffered a hacker attack. 119,756 Bitcoins were stolen, worth more than 72 million US dollars at the time. Many players in the cryptocurrency industry could not even afford instant noodles because of this.
.
On the contrary, the Mt.Gox trading platform suffered from hacker attacks and Bitcoin thefts in the past few years, and it went bankrupt and was taken over by Qunxing Capital. However, after Qunxing took over, this trading platform no longer existed.
There have been similar hacker attacks.
In addition, this platform is endorsed by the top financial giants from the East and the West, such as Merrill Lynch and Qunxing. The user experience is ahead of its peers, with a variety of tools and professional APP applications. The key is that there are no obstacles to monetization. Over the years, it has
Thanks to its reputation and credibility, the Mt.Gox trading platform has become the largest cryptocurrency trading platform in the world.
More than 70% of players in the global currency circle conduct transactions on the Mt.Gox trading platform. For those in China who want to transfer wealth through encrypted digital currency channels, they cannot avoid it even if they have concerns.
