Hong Hao: The long-term value of Bitcoin stems from scarcity, and a new cycle may begin in the third and fourth quarters of this year

According to official announcements, the South Korean cryptocurrency exchange Upbit will launch CFX tokens on the Korean won, BTC, and USDT markets, with trading starting at 3:00 pm (UTC+8) on July 31st.

Open USD is supported by over 140 businesses including Visa, Mastercard, Stripe, and BlackRock, and will be launched on Ethereum. （Cointelegraph）

Economist Hong Hao stated at a private Binance meeting that investment research and traditional fortune telling are essentially predictions about the future, with the difference being in methodology. Hong Hao believes that traditional fortune telling is based on long-term empirical observation, while investment research is based on quantitative analysis of historical data. Hong Hao stated that there is no universal standard answer for market predictions, and investment decisions vary from person to person. Hong Hao believes that any prediction has boundaries, and prediction is essentially a glimpse into the future.

Economist Hong Hao stated at a Binance private meeting that financial innovations such as on chain stocks can help improve the efficiency of global asset price discovery and reduce market fragility.

At the Binance private sharing event, economist Hong Hao stated that the fixed supply limit of 21 million Bitcoin coins determines its scarcity and establishes a value foundation distinct from traditional fiat currencies. Hong Hao believes that Bitcoin relies on a decentralized network and a fixed supply mechanism to form a new credit system, with a long-term target price of $1 million and a gold target price of $10000. According to the cycle model calculation, there is an important time window for a new cycle to emerge during the transition period between the third and fourth quarters of this year.