Silver has posted a 270% gain in about 13 months, while BTC has fallen 11% during the same period. As a result, the current market value of silver has soared to over 6.2 trillion U.S. dollars, surpassing the 4.5 trillion U.S. dollars of Nvidia, the largest stock in the U.S. stock market. The market value of BTC fell below 2 trillion knives.

Only a year ago, the Jiaolian article showed that the market value of silver was only more than 1.6 trillion U.S. dollars. At that time, the market value of BTC was almost the same as now (less than 2 trillion U.S. dollars).

In other words, over the past year or so, BTC has remained stagnant, while silver has made a comeback from being overtaken by BTC, made rapid progress, soared into the sky, and is already one position ahead of BTC.

More importantly, the current market value of silver has significantly surpassed and broken away from the upper limit of the US stock market, and has opened a level below gold and above the US stock market.

No matter what the reasons for silver's big breakthrough are, whether it is geographical risk aversion or short squeeze, facts speak louder than words. Silver's parabolic trajectory has proved a fact:

From the level of the US stock market, in a very short time of about a year, it is completely possible to break away from the gravitational constraints of the stock market and chase gold, at least to achieve "under one thing and above all things"!

This is exactly what JiaoChain expected more than three years ago for BTC, which was at the bottom of the last bear market. At that time, Jiao Lian wrote in the report:

『In the last round of bear market, the bottom was more than 3,000 at the end of 2018 and the top of the bull market was 69k at the end of 2021, an increase of about 23 times. According to the current 17k increase of 23 times... Even if it is based on a smaller increase, such as 17 or 8 times, reaching 300,000 US dollars per Bitcoin, the total market value is 6 trillion US dollars, which is about half of gold's market value. Even if it reaches a similar order of magnitude, it can be said to be comparable to gold. "

No coincidence can make a book. Good news: The $6 trillion market capitalization target has really been achieved. Bad news: It wasn’t done with BTC. BTC’s script was taken away by silver.

However, silver’s starting point is much higher than BTC’s. Silver has only managed to increase by 5 times to achieve its current achievements.

Looking at this multiple, BTC is still struggling in the quagmire of $16,000 at the end of 2022. Five times is the level of $80,000, which is exactly the current price range.

Perhaps we shouldn't be too harsh on BTC.

It's just a normal psychological gap that the greater the expectations, the greater the disappointment.

More than 2 years ago, Jiaolian mentioned in an article that the market value of BTC was only less than 800 billion U.S. dollars, and had not exceeded the market value of silver at that time, 1.5 trillion U.S. dollars. He described the next stage of Bitcoin's goal as follows:

「After the last cycle, Bitcoin has already matched the U.S. stock market. In the next cycle, Bitcoin will surpass the U.S. stock market and point to gold.‖

Bitcoin, the young boy in bright clothes and angry horse, is still fighting with the US stock market, but the shining knight Silver has already broken out of the siege.

But silver has a weakness, which is the elasticity of production. BTC removes this weakness.

Silver completed the knight's charge despite its weakness, setting the stage for BTC's big breakthrough.

This breakthrough is the "phase change" theory that Jiao Lian wrote in his previous article:

「In this 2020-2024 production reduction cycle, the entry of European and American institutional funds has promoted the bull market and also contributed to another "phase change" of Bitcoin, that is, the significant nature of "U.S. stockization" - that is, a higher correlation with U.S. stocks. However, this "U.S. stockization" nature is only temporary after all. As Bitcoin undergoes another "phase change", it will get rid of this correlation. "

BTC will also complete its own knight's charge and achieve the goal of surpassing and breaking away from the US stock market.