BTC broke another $ 10,000, what is the real reason for the rise?

Source: Finance and Economics on-line financial title: "BTC breaks another 10,000 US dollars and halves distance less than 100 days"

At 11 am on February 9th, BTC rose linearly to 11:14, officially broke the $ 10,000 mark, and rose by 2.81% in 24 hours. However, it dropped sharply after reaching 10,000 US dollars, and once fell to 9,995 US dollars. After that, it fluctuated within the range of 9,9950-10000 US dollars in a short period of time, and once again exceeded 11.000 US dollars at 11.18.

Public data shows that there is currently less than 100 days before the official halving of BTC. BTC halving has long been recognized by the industry as an opportunity for BTC to rise. On February 5th, cryptocurrency analyst Rekt Capital said that the price of Bitcoin may reach an all-time high within 12 to 18 months after halving.

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Ten thousand dollars of Bitcoin seems to have a special impact on people. Whenever the price of bitcoin reaches around ten thousand dollars, the mood of the market will be mobilized. According to the financial network and on-chain financial statistics, since BTC went online, BTC has broken the $ 10,000 mark five times.

BTC ’s first breakthrough in the $ 10,000 mark can be traced back to November 29, 2017. This is the first time that BTC has exceeded $ 10,000. Since BTC rose above $ 10,000 on November 29, 2017, BTC has been rising for several days. By December 17, 2017, BTC rose to $ 19,621, and once approached $ 20,000, reaching the highest price of BTC since its introduction.

In October 2017, the Chicago Mercantile Exchange announced the forthcoming launch of Bitcoin futures contracts, which laid the foundation for the explosion of the crypto market. Since then, the popularity of the ICO financing market has provided financial support for the rise of BTC.

However, with the opening of the futures market and the tightening of ICO regulations by governments in various countries, BTC fell short after hitting $ 20,000.

On February 1, 2018, BTC officially fell below $ 10,000, and fell to $ 4,000 within 5 trading days, with the lowest price of $ 6032. After bottoming out, it slowly rose. By February 17, 2018, it had once again risen to $ 10,000, but fell again to $ 10,000 after 5 trading days. As of February 26, 2018, BTC rose above $ 10,000 for the third time. As with the previous time, the rise of BTC was not lasting.

On March 6, 2018, there was an inflection point in the BTC market, which changed from rising to falling, and officially fell below $ 10,000 on March 8, 2018.

Since falling below $ 10,000 this time, the cryptocurrency market has begun to enter a long bear market.

The fourth time was June 22, 2019. This round of rising prices continued from June 19, 2019 to June 26, 2019. After 8 consecutive trading days of rising, BTC hit the $ 14,000 mark on June 26, 2019. After hitting a high point, it began to fluctuate and fell, and officially fell below $ 10,000 on September 24, 2019.

It is understood by Caijing.com on the chain that this round of rise has reached the highest point of BTC price since February 2018. Prior to this, BTC continued to fluctuate between US $ 3,200 and US $ 4,000 after the plunge in November 2018, and the market value of BTC dropped by 80% from its high point.

So far, there is no evidence to show what is the real reason for this round of rise, but in this period, whether it is a change in the international situation, the presence of traditional capital, or the BTC itself, it has provided the possibility for the rise of BTC.

On June 21, Trump shouted to Iran that he did not want to engage in war with Iran, but would "completely destroy" it. This remark originated from the Iranian Air Force ’s announcement that it had shot down a U.S. unmanned surveillance aircraft in Iranian airspace the day before;

In addition, in mid-June, Facebook announced the release of the digital currency project Libra, which involved the layout of stablecoin and blockchain technology by a number of traditional Internet giants, causing continued heated debate within and outside the industry;

With the June flood season in Sichuan, the mining mood of miners has risen, and Bitmain has also reportedly launched a listing plan;

In addition, as the Bitcoin halving market is approaching, halving market prices are beginning to appear.

The second breakthrough of $ 10,000 was October 26, 2019. Since October 25, 2019, BTC has been rising for two days. On October 26, it once reached a high of $ 10,500, with the largest increase of more than 40%. With the rise of the BTC, the concept stocks of the A-share blockchain concept stocks have daily limit.

However, this round of rise did not last long, after it hit a high on October 26, it fell all the way, and on November 25, it once fell to $ 6,500. Since then, it has been oscillating in the range of 6500-8000 US dollars. Until December 18, it fell below 6,500 US dollars and bottomed out, and started to rise in shock.

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