TechFlow news, on December 2, according to Jinshi Data, an article in the Economic Daily stated that recently Bitcoin prices have continued to rise, once reaching $99,000 per coin, hitting a new historical high. Yu Jianing, co-chairman of the Blockchain Committee of China Communications Industry Association and honorary chairman of Hong Kong Blockchain Association, said that in the short term, Bitcoin may fluctuate while seeking new support or resistance levels. In the medium to long term, its price trend will depend on multiple factors such as global liquidity, economic outlook, and regulatory stance.
Yu Jianing analyzed that due to the decentralized nature of crypto assets' funds, the market is vulnerable to manipulation by large capital inflows, leading to "dumping" or "pumping" behaviors, which could trigger irrational actions from retail investors. The article noted that Chinese regulators have consistently maintained a clear position, classifying cryptocurrency-related business activities as illegal financial activities, and have upheld strict regulation on cryptocurrencies through measures such as cracking down on Bitcoin mining and cutting off funding channels for crypto speculation.
"Overall, as the market热度 around Bitcoin and cryptocurrencies heats up, new risks and uncertainties are also rising. Investors should approach the current market with rationality and caution, closely monitor regulatory developments and market changes, and avoid blindly following trends," warned Zhao Wei, senior researcher at OKX's digital asset trading platform research institute.
