“Digital currency” was searched an average of 1,714 times daily, and the consulting index is 200,317. In 2021, the transaction volume of the digital asset spot market reached 21 trillion USD, and the estimated handling fee revenue was 1.8 billion USD
Vancouver, British Columbia Jun 24, 2022 (Issuewire.com) – Hee Jeelin, the founder of Bitutong, analysed the development trend of the digital asset industry. He believes that the rising market has come to us. Mr. Hee Jeelin is young, but he has vast and rich experience in digital currency. He is a witness, participant, and winner of the industry. At present, he manages exchange and a mining pool.
The founder’s views are as follows:
As the regulatory policy of the currency circle becomes stricter and stricter, the currency circle will not disappear. The more perfect the system is, the better it will be for the game participants.
Exchanges should actively embrace institutional changes and lead standard settings.
In the future trend, the rising market may slow down in the process, but the direction will not change, and it will go faster and faster.
The investment must be rational, especially the leverage ratio, and not too high.
Exchange differentiation is mainly reflected in product innovation, circulation innovation, and market-level innovation. Bitutong can provide users with more comprehensive investment services, including industry analysis, currency information, news, risk alerts, etc. This is to help users to make scientific decisions and invest accurately.
The following is the transcript of the interview:
Reporter: Hello, Mr. Hee Jeelin, the currency circle has gone through a dark period. With the collapse of the currency circle, the regulatory policy has become stricter and stricter. Will the currency circle disappear with policy supervision in the future?
Hee Jeelin: The currency circle will not disappear, because the issuance of the digital currency itself is decentralised to facilitate some cross-border remittances or transactions. In addition, its handling fees are relatively low. For example, it has been more than ten years since Bitcoin was issued, and its development seems to be getting better and more formal, and people are starting to accept Bitcoin. What is restrained from the institutional level just shows that this thing is worth having, but to avoid its flaws.
Historically, when inflation increased and people were worried about economic development, Bitcoin came into being, it was born to compete with the existing monetary system. Although there are many loopholes and problems in the development of Bitcoin, this new thing has greatly inspired us to reflect on the existing monetary system. Of course, every new thing has its pros and cons, which not only inspires us but also creates many problems for society. Problems such as the use of Bitcoin for money laundering, tax evasion, and many other legal problems. I think the more perfect the system is, the better it will be for the game participants. Without supervision, Elon Musk will manipulate the market at his own will.
Reporter: So how should exchanges deal with regulation?
Hee Jeelin: Real currency digitisation requires technological innovation on the one hand and changes in economic rules on the other. As the reason behind the exchange, the trend of development, and the direction of supervision, the exchange should take the initiative to embrace institutional changes and lead the formulation of standards.
Investors should fully understand the principles of digital currency production, the services provided by the exchanges, and policy changes. Investment should be rational and sober.
Reporter: I noticed that the price of digital currency has begun to rise recently. Do you think this is the darkness before the dawn or the beginning of the next darkness?
Hee Jeelin: This question should be what everyone is most concerned about. The next step is whether to rise or fall. Overall, I think this is a rising market slowly walking towards us. This needs to be analysed from the overall situation. There are obvious signs of the global economy bottoming out and rebounding are obvious, and the financial environment is relatively good. First, the epidemic has been generally under control. Second, the economic stimulus plans for various countries are showing their effects. Third, the awareness of the economic community has increased. Based on the above factors, the market is generally optimistic about risky assets.
Next, let’s analyse the downward factors. Judging from the bear market cycle of digital assets, the market itself was in a downward trend at that time. Coupled with a series of Gray Rhino events, such as the outbreak of the epidemic, financial panic, etc. The possibility of this happening again in the future is very small.
Generally speaking, the rising market may slow down during the process, but the direction will not change, and it will go faster and faster.
Reporter: Since the prospects are so good, can we all in?
Hee Jeelin: Judging from the current phenomenon, there is no capital running in the middle and late bull market. I think that confidence is more important than gold, which is true, but investment must be rational. The market is getting smart. After “312”, although the currency price has increased by 10 times, most people are still conservative. Especially the leverage ratio, don’t be too high.
Reporter: There are many exchanges in the market, but homogenisation is serious. Can product differentiation be achieved? What’s your opinion?
Hee Jeelin: On the surface, exchanges are all matching transactions. But there are still many substantial differences. The exchange industry is divided into two categories, one is compliant exchanges, and the other is non-compliant exchanges. Differentiation is mainly reflected in product innovation, circulation innovation, and market-level innovation. Each exchange uses its advantages such as capital, research, and development, derivatives, channels, etc., to make a differentiated “combination punch”.
We have clarified the core and leading ideas at the conference “Remain true to our original aspiration and keep our mission firmly in mind”. The exchange must also maintain its original aspiration, serve the people as its purpose, recommend high-quality assets to customers, achieve customers, strengthen the exchange, and stimulate financial vitality. In particular, we must do a good job in quality control. No matter which way you take or how you innovate, this red line cannot be crossed.
Reporter: What are the characteristics of Bitutong?
Hee Jeelin: As I said just now, exchanges cannot simply match transactions. Bitutong will not position itself as an exchange, but position itself as an interactive broker among brokerages, with investment banking functions. We hope to provide users with more comprehensive investment services, including industry analysis, currency information, news, risk reminders, etc. in the currency circle to help users to make scientific decisions and invest accurately.
Reporter: Do you have any investment yourself? Which one do you invest in?
Hee Jeelin: It must be the mainstream currency.
Reporter: Can you pass on some secrets to investing well?
Hee Jeelin: Focusing on policy is the priority. Choosing a good exchange can get twice the result with half the effort. I have just mentioned, that I personally invest in the mainstream currency. I think there is also a chance for a huge blockchain.
Reporter: Let’s talk about your outlook for 2022.
Hee Jeelin: Definitely everyone can make money (LOL). Judging from the current situation, the development of digital assets this year is still well supported. It can be analysed by targeting the industry in the currency circle. If it meets the investment expectations, you can enter the market in time. As an exchange, we will not forget our original aspiration, keep our mission firmly in mind, prioritise users, lead the formulation of the rules, optimise services, and jointly seize the dividends of the bull market.
Reporter: Thank you very much, I highly appreciate your professional sharing.
Hee Jeelin: Thank you, too.
BITUTONG GLOBAL LTD
This article was originally published by IssueWire. Read the original article here.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No People Reportage journalist was involved in the writing and production of this article.