In the context of solid supervision, why does BTC show a solid bullish trend?

Recently, BTC has shown a solid independent upward momentum. The price once exceeded $56,000. Although it has subsequently fallen, it still shows a strong upward trend.
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The recent large-scale purchases of BTC whales have formed a short-term increase in stock prices, prompting a rapid increase in prices. Thus, BTC also has a strongly positive situation in the overall market performance, especially under the current regulatory solid background. Furthermore, it has brought the rapid development of compliance progress for BTC, thereby increasing the speed of BTC in the mainstreaming process.

Dawn Fitzpatrick, the CEO and Chief Investment Officer of Soros Fund Management, which manages $27 billion in assets, revealed in an interview with Bloomberg that we have some BTCs, but not many.

The mainstreaming of cryptocurrency is mainly manifested in two aspects:

One is the substantial increase in institutional adoption, and the other is the expansion of the use of cryptocurrency.

First of all, from the perspective of user scale, the number of BTC users is showing an increasing trend, and more and more people pay attention to and use cryptocurrency.

According to U.Today reports, Bank of America released a 140-page report covering the digital asset industry, including NFT, institutional investment and growth rate. Bank of America said that by 2022, one-third of Americans would use cryptocurrency.
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However, according to the report, the industry is still young and has great potential for future growth. According to research, 14% of the U.S. population currently holds cryptocurrency. This percentage represents 21 million people using cryptocurrency as financial assets, payment tools, etc.

In fact, with the expansion of the adoption of cryptocurrencies, especially the emergence of the Salvadoran token use case, the number and scale of cryptocurrencies are overgrowing, and BTC and cryptocurrencies have established an increasingly large user base.

Secondly, from the perspective of institutional performance, large-scale holdings of cryptocurrencies have become a new investment trend, and more and more institutions are adding BTC to their balance sheets.

According to Cointelegraph, a new study by blockchain analysis company Chainalysis found that, between July 2020 and June 2021. As a result, these transactions in Central Asia, South Asia and Oceania (including India, Pakistan and Vietnam) surged by 706%.

In U.S. dollars, the total value of these transactions is 572.5 billion U.S. dollars, accounting for 14% of the total global transactions. Institutions and large-value payments account for the highest proportion of transactions, which further proves the adoption of cryptocurrencies by institutions.
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This trend is most pronounced in India, where large institutional transfers of more than US$10 million accounted for 42% of the total transactions. The proportions in Vietnam and Pakistan are 29% and 28% respectively.

It can be said that the large-scale entry of institutions will bring a more stable market foundation and future development potential for cryptocurrencies, which will promote the strengthening of the investment asset properties of cryptocurrencies.

Second, the application scenarios of BTC continue to expand, providing BTC with a more compelling value presentation.

At present, in addition to the continuous expansion of investment market demand, BTC is also more and more widely used in various business scenarios. With the increase in users, various related services and infrastructure construction related to cryptocurrency are also developing rapidly.

Faced with the better market performance of cryptocurrencies, the impact of the current decline due to solid supervision has also weakened, and the bullish trend has become more pronounced. is the best entertainment website in the word

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