Cailianshe: Crazy Bitcoin breaks through $40,000 for the first time in history, price doubled in less than a month

On Thursday, Eastern Time, Bitcoin continued its crazy trend, breaking through the $40,000 mark in one fell swoop, setting a new historical high again. At the same time, the intraday amplitude was as high as $6,000.

(Bitcoin breaks through $40,000, source: Wind)

Blockchain concept stocks in the U.S. stock market also rose collectively on Thursday. As of press time, Thunder Network rose more than 40%, China Netcom rose more than 30%, Ebang International and Mercurity Fintech rose more than 20%, and The9 rose more than 10%.

It is worth noting that on December 16 last year, Bitcoin just broke through 20,000 US dollars, and then broke through 30,000 US dollars on January 2 this year. In less than a month, the price of Bitcoin has doubled.

The surge in Bitcoin in the past year has been driven by many factors, including the entry of institutional investors, loose policies of global central banks, the limited number of Bitcoins, and the market enthusiasm sparked by breaking through $20,000.

The surge in Bitcoin is inseparable from the promotion of many retail investors. The fear of missing out has attracted many investors, but it may also trigger a sharp correction in the future. For speculators, the sharp rise and fall of Bitcoin can be both heaven and hell. According to data from research firm Flipside Crypto, the number of active Bitcoin accounts is close to the historical high at the end of 2017. Market analysis shows that this may be a signal that some holders intend to sell.

The market's attitude towards Bitcoin remains polarized during the surge. JPMorgan Chase said in a recent research report that Bitcoin may reach $146,000 in the long run, but to reach this price, Bitcoin's volatility must be greatly reduced. Bears insist that Bitcoin is a bubble. David Rosenberg, an economist and strategist at Rosenberg Research, said: "Bitcoin's parabolic trend in such a short period of time is very abnormal."