Beijing Business Daily News (Reporter Liu Sihong): Bitcoin, which has experienced ups and downs throughout the year, has recently experienced a short-term rise in prices. On April 11th, the price of Bitcoin broke through $30000 at around 8:30, an increase of over 5%
Beijing Business Daily News (Reporter Liu Sihong): Bitcoin, which has experienced ups and downs throughout the year, has recently experienced a short-term rise in prices. On April 11th, the price of Bitcoin broke through $30000 at around 8:30, an increase of over 5%. However, it began to decline again. As of around 9:18, Bitcoin quoted $29830, a 24-hour increase of 4.84%, and a 7-day increase of 6.29%.
The Beijing Business Daily reporter noticed that the price of Bitcoin reached a peak of $30339 around 10:10 on the same day. As of around 16:10 press time, the latest price of Bitcoin was $30105, a 24 hour increase of 6.40%, a 7.44% increase in the past 7 days, a 50.53% increase in the past 30 days, and a 74.41% increase in the past 3 months.
Under the rising trend of Bitcoin, the price of Ethereum, which is also a mainstream currency in the coin industry, has also seen an increase. As of April 11, the latest price of Ethereum was at $1922, a decrease of 3.38% during the day, an increase of 35.68% in the past month, and an increase of 43.94% in the past three months. In addition, there is the platform currency BNB, with the latest quotation of $330.36, which has increased by 6.26% in the past 7 days, 19.95% in the past 30 days, and 17.83% in the past 3 months.
Bitcoin price trend chart in the past three months
Since the beginning of this year, investment funds and others have resumed buying virtual currencies due to their relatively low prices, and the prices of virtual currencies have rebounded multiple times. For example, in the past two days, foreign media have disclosed that the inflow of safe haven funds has driven Bitcoin to skyrocket. However, with the return of speculative funds, the risk of significant fluctuations in Bitcoin prices is also increasing. According to the Nihon Keizai Shimbun, the reason why Bitcoin can attract a lot of funds is that it has the characteristics of no need to maintain the value of assets, so it is again popular with investors.
In addition, previously, due to the impact of the Federal Reserve's monetary policy for most of the time, the price of Bitcoin often fluctuated before and after the Federal Reserve's FOMC meeting. However, the recent rise in virtual currency has not found a clear correlation. Coindesk quotes Edward Moya, a senior market analyst at foreign exchange market maker Oanda, as saying: "There is no clear catalyst for this surge." Currently, one of Bitcoin's main trading markets, the Easter holiday in the European and American regions has not yet ended.
Pan Helin, co director and researcher of the Research Center for Digital Economy and Financial innovation of the International Joint Business School of Zhejiang University, told the Beijing Business Daily that the new round of rise in the currency circle was mainly due to the return of the dollar to its weakness. As a trading medium, the virtual currency in the currency circle was also a high foam asset, which showed the opposite direction to the strength of the dollar. Therefore, if the US dollar is expected to enter a weak position, there will be a round of upward trend in the currency circle. However, due to the increasing problems in the currency circle, its market value is difficult to reproduce its previous glory.
In the view of Pan Helin, "The main support for the rise of Bitcoin in the next round is the weakness of the US dollar and the de dollarization, but de dollarization does not necessarily require Bitcoin, such as the euro and RMB. Therefore, I personally believe that Bitcoin will not return to long-term strength, but will rebound in the short term. Given the current strengthening of regulation of currencies such as Bitcoin, countries around the world will soon usher in a new round of decline, The subsequent major trend of the currency circle is still to decline and squeeze foam, while the minor trend is to benefit from the weak dollar in the short term. Investors should try to avoid participating.
In addition, with the rising popularity of virtual currency, on April 11, reporters from the Beijing Business Daily also noticed that at present, platforms including Tiktok, Weibo, Baidu, etc., have also supported price query of various virtual currencies such as Bitcoin, Ethereum, other platform currencies, and shanzhai coins. However, the platform is only for market information display, for example, Tiktok's built-in data source is Golden Finance, According to relevant national regulations, unofficial virtual currencies do not have the same legal status as fiat currencies. Please invest with caution. The content displayed on Weibo is sourced from the Sina Finance client, which also indicates that "virtual currency related business activities are illegal financial activities. Sina only displays price information and does not provide any investment reference".
On April 11, the reporter of Beijing Business Daily interviewed the three previous platforms one by one to verify the matter. As of the time of publication, no official response had been received. However, as of the time of publication, the reporter found in Tiktok that the relevant bitcoin price market display was no longer displayed.
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