比特幣觸及 10 萬美元：下一步是什麼？

比特幣突破 10 萬美元大關是加密貨幣市場的決定性時刻。 Georgiev 表示，現貨比特幣 ETF 的推出改變了遊戲規則

At Dealers Connect 4.0 in Limassol, Cyprus, FinanceFeeds sat down with Miroslav Georgiev, Head of Dealing at Taurex and Zen Connect, to discuss the market outlooks for 2025, the impact of Bitcoin crossing $100,000 on the crypto market, and the transformation of the brokerage industry by proprietary trading.

在塞浦路斯利馬索爾舉辦的 Dealers Connect 4.0 大會上，FinanceFeeds 與 Taurex 和 Zen Connect 交易主管 Miroslav Georgiev 坐下來討論 2025 年的市場前景、比特幣突破 10 萬美元對加密貨幣市場的影響以及經紀業務的轉型行業透過自營貿易。

Bitcoin crossed the $100,000 mark this year, and several factors contributed to this move. One of the biggest drivers is the launch of a spot Bitcoin ETF, which has attracted both retail and institutional investors. This increased demand adds value to Bitcoin and could support its price in the future.

比特幣今年突破了 10 萬美元大關，有幾個因素促成了這一趨勢。最大的推動因素之一是現貨比特幣 ETF 的推出，它吸引了散戶和機構投資者。這種需求的增加增加了比特幣的價值，並可能在未來支撐其價格。

At the same time, the growing participation of institutional investors is likely to reduce Bitcoin’s volatility. Institutions have more tools, like short selling and options, which can stabilize sharp price movements. Additionally, Bitcoin is increasingly being seen as “digital gold,” and with interest rates expected to decline next year, safe assets like Bitcoin should benefit.

同時，機構投資者的參與不斷增加可能會降低比特幣的波動性。機構擁有更多的工具，例如賣空和選擇權，可以穩定價格的劇烈波動。此外，比特幣越來越被視為“數位黃金”，隨著明年利率預計下降，比特幣等安全資產應該會受益。

Georgiev also highlighted the role of external factors, like Donald Trump’s return to the political scene and his stance on cryptocurrencies, which could further support Bitcoin’s adoption and growth.

格奧爾基耶夫也強調了外部因素的作用，例如唐納德·川普重返政治舞台及其對加密貨幣的立場，這可能會進一步支持比特幣的採用和成長。

His outlook for the broader financial markets in 2025 is positive, especially for equities, cryptocurrencies, and safe haven assets like gold. He pointed to the likely continuation of lower interest rates as a key driver of market performance.

他對 2025 年更廣泛的金融市場的前景持樂觀態度，尤其是股票、加密貨幣和黃金等避險資產。他指出，較低的利率可能會持續下去，這是市場表現的關鍵驅動力。

“Trump’s return to the spotlight is generally positive for the stock market, although certain sectors, like renewable energy, may face challenges. Interest rates are expected to decline, which is good for the market overall.”

「川普重返聚光燈對股市總體來說是正面的，儘管可再生能源等某些產業可能面臨挑戰。預計利率將會下降，這對整體市場有利。

However, the Taurex and Zen Connect executive also flagged potential risks, like renewed trade tensions with China, which could introduce periods of heightened volatility. Still, his outlook remains bullish overall, with safe assets like gold and Bitcoin positioned to perform well in uncertain environments.

然而，Taurex 和 Zen Connect 高層也指出了潛在風險，例如與中國的貿易緊張局勢再度緊張，這可能會導致波動加劇。儘管如此，他的前景總體上仍然樂觀，黃金和比特幣等安全資產在不確定的環境中表現良好。

“We should also prepare for potential volatility. For instance, new trade sanctions against China could temporarily disrupt markets. Still, I remain optimistic about the stock market, cryptocurrencies, and safe haven assets like gold. Gold, in particular, stands to gain in an environment of declining rates and geopolitical uncertainty.”

「我們也應該為潛在的波動做好準備。例如，針對中國的新貿易制裁可能會暫時擾亂市場。儘管如此，我仍然對股市、加密貨幣和黃金等避險資產保持樂觀。尤其是黃金，在利率下降和地緣政治不確定性的環境下將會上漲。

Proprietary trading has seen explosive growth in recent years, transforming the brokerage landscape. Georgiev described it as an appealing entry point for traders with limited capital, noting that a $500 investment in a prop account can provide access to a $100,000 trading balance.

近年來，自營交易出現爆炸性成長，改變了經紀業的格局。 Georgiev 將其描述為對於資金有限的交易者來說是一個有吸引力的切入點，並指出在自營帳戶中投資 500 美元即可獲得 100,000 美元的交易餘額。

“Prop trading is a relatively new segment in the financial industry and is growing rapidly. It provides an affordable entry point for retail clients. For example, with $500, a trader can control a $100,000 account and keep 80–90% of the profits,” said Georgiev. “This model attracts new clients to the industry, which is good, but it also pulls clients away from traditional CFD brokers. Many prefer a prop account over using $500 in a leveraged CFD account.

「自營交易是金融業中一個相對較新的領域，並且正在迅速成長。它為零售客戶提供了一個負擔得起的切入點。例如，交易者可以用 500 美元控制一個 10 萬美元的帳戶，並保留 80-90% 的利潤。 「這種模式吸引了新客戶進入該行業，這很好，但它也使客戶遠離傳統差價合約經紀商。許多人喜歡自營帳戶，而不是在槓桿差價合約帳戶中使用 500 美元。

“Moreover, MetaQuotes’ recent decision to restrict MetaTrader access to regulated brokers has impacted the market. It encourages traders to choose regulated platforms, which enhances trust and reduces scams. I expect more regulation in the prop trading space next year. This will likely consolidate the market, with larger, more reputable firms gaining market share.”

「此外，MetaQuotes 最近決定限制 MetaTrader 訪問受監管經紀商，這對市場產生了影響。它鼓勵交易者選擇受監管的平台，從而增強信任並減少詐騙。我預計明年自營交易領域將受到更多監管。這可能會鞏固市場，規模更大、信譽更好的公司將獲得市場份額。

From Bitcoin’s transformation into digital gold to the growing prominence of prop trading, the market is set to undergo significant change. For brokers and investors, the focus will be on adapting to these shifts while navigating an increasingly regulated and competitive landscape.

從比特幣轉向數位黃金的轉變，到自營交易的日益突出，市場將發生重大變化。對於經紀人和投資者來說，重點將是適應這些變化，同時應對日益監管和競爭激烈的環境。

Dealers Connect 4.0, which was hosted by Your Bourse and Yourfintech, featured two-panel discussions. The first focused on the challenges and opportunities for trading desks, while the second centered on the design of scalable and cost-effective trading platforms. Miroslav Georgiev participated in the former discussion, where he covered the evolution of trading books, the introduction of new tools, and strategies for addressing emerging risks.

Dealers Connect 4.0 由 Your Bourse 和 Yourfintech 主辦，包括兩個小組討論。第一個重點關注交易平檯面臨的挑戰和機遇，第二個重點關注可擴展且具成本效益的交易平台的設計。 Miroslav Georgiev 參加了前一場討論，討論了交易帳戶的演變、新工具的引入以及應對新興風險的策略。