Bart Smith, head of digital currency business at Susquehanna, the US financial group, said recently that there are three important reasons for the rise in bitcoin: 1. The Sino-US trade war has led to instability in the RMB exchange rate, which has led many Chinese investors to use BTC to hedge the risk of a falling exchange rate; 2. The impact of the 2019 New York Consensus Conference. For the upcoming crypto platforms such as Fidelity Digital Assets, Bakkt and ErisX, many people in the community are excited and discussed at the event. 3. Many US brokerage firms, especially online service companies, have begun offering bitcoin transactions to retail investors in 2019. He mentioned that this reason is the most important of the three reasons.