The second bitcoin ETF in the world was approved. I don't think there is much room for bitcoin to rise, because the total market value of bitcoin is estimated to be very large, and the price is already very high, and the increase is too great. Personally, I think there is limited room for future growth.

With the continuous development of society, technology has brought many benefits to our lives. At the same time, many emerging industries have also shown us the power of technology. As a new thing in emerging industries, Bitcoin has attracted many people's attention. Bitcoin has also become a symbol of wealth in recent years. The second bitcoin ETF in the world was approved. I don't think there is much room for bitcoin to rise, because bitcoin has recently increased very much and its total market value is already very high. Bitcoin itself does not generate profits, which leads to differences in valuation. This is why I don't think there is much room for Bitcoin in the future.

First, bitcoin itself does not generate profits, and its market value and valuation are already high.

Everyone should know that Bitcoin itself does not generate profits, that is, it will not add value to Bitcoin. The price of a non-profitable bitcoin is already more than 50 thousand dollars, which is more than 300 thousand yuan when converted into RMB. This is very scary data, and the total market value of Bitcoin has reached trillions. The price of things that don't make money in an industry is so high and the market value is so large. I don't think bitcoin has room to rise.

Second, what impact does the approval of Bitcoin ETF have on Bitcoin?

Everyone knows that ETF is actually a kind of fund, and you can buy bitcoin. Pure news interpretation is a good thing, because bitcoin needs buyers to push it up, but ETF funds are limited, so it is impossible to buy bitcoin all the time. Bitcoin has a market value of several trillion yuan, so ETF funds will basically not cause too much fluctuation in bitcoin prices, which is why I think Bitcoin will not continue to rise.

Third, can I still buy Bitcoin at this location?

I don't think this position should participate in bitcoin, because the bitcoin market has risen by about 30%, and the increase has been great. At this time, buying may chase the quilt cover, and the risk is greater than the income. It is recommended not to participate.