Bitcoin surged 727% this year, reaching a new high of 40,900 yuan!

Data from domestic trading platforms show that the price of Bitcoin has been rising all the way today, eventually hitting a record high of 40,900 yuan. As of press time, the price of Bitcoin has fallen back, but is still above 40,000 yuan.

Bitcoin price trend chart today, from Bit Era. The current total market value of Bitcoin is close to 102.1 billion US dollars, which has left international investment banks such as Morgan Stanley (market value of 93.9 billion US dollars) and Goldman Sachs (93.5 billion US dollars) far behind.
Compared to the lowest point of Bitcoin price of 4,900 yuan at the beginning of the year, Bitcoin has skyrocketed 727 times this year, becoming a god-like investment product in the financial world!

Bitcoin price trend chart this year, from BitTimes Of course, Bitcoin has not had a smooth sailing this year, and it can even be said to have had a "bad luck". How bad is it? Let's take a look below:
On January 5, 2017, Bitcoin broke through its historical high three years ago and broke through the 8,000 yuan mark, soaring to 8,873 yuan at one point.
Immediately afterwards, on January 6, the People's Bank of China and its Shanghai headquarters summoned three Bitcoin exchanges - Huobi, Bihang and BTC China - in Beijing and Shanghai respectively, asking them to conduct self-inspections on recent abnormal situations and carry out corresponding cleanups.
Affected by this, the price of Bitcoin immediately plummeted and plummeted to 4,944 yuan a few days later.
On April 1, 2017, Japan recognized the legality of virtual currencies such as Bitcoin as a means of payment, and the Payment Services Amendment Act officially signed by the Japanese Cabinet came into effect. In addition, due to the uncertainty of Trump's policies, the US securities and asset markets fluctuated violently, and the demand for safe-haven assets increased significantly, which continued to push up the price of Bitcoin.
From May 22 to May 24, 2017, the third consensus conference was held in New York. Miners and investors were full of expectations for reaching a consensus on the issue of Bitcoin expansion, and the price of Bitcoin ushered in a big explosion. On June 10, the price of Bitcoin exceeded 20,000 yuan, and on June 11, it hit a new high of 21,388 yuan.
At this time, news about China's introduction of Bitcoin regulatory policies in June came out and intensified, the market's bearish sentiment increased, and the price of Bitcoin continued to fall. As of July 16, the price of Bitcoin had fallen to around 13,000 yuan.
Later, affected by the positive news of Bitcoin fork on August 1, 2017, the price of Bitcoin rebounded again from late July and set new highs. On August 17, the price of Bitcoin broke through the 30,000 yuan mark and has remained at a high level since then.
On September 4, seven ministries jointly issued the “Announcement on Preventing the Risks of Token Issuance and Financing,” and the price of Bitcoin subsequently plummeted, falling all the way to 21,000 yuan, with a daily decline of 27%.
As China's virtual currency platforms continue to close, the price of Bitcoin continues to hit a low. On September 16, the price of Bitcoin fell below 20,000 yuan, reaching a low of only 16,250 yuan.
At this time, everyone thought that Bitcoin was finished. But just two weeks later, on September 30, the Japanese Financial Services Agency (FSA) issued operating licenses to 11 Bitcoin exchanges. This event triggered a surge in investment enthusiasm around the world, and the market's bullish sentiment fermented, driving the continued rise in the price of the currency.
Facts have once again proved that Bitcoin is like an indestructible cockroach. Facing heavy pressure, its price has risen instead of falling.
So the question is: Can you still buy Bitcoin now that the price is so high? Answer: Yes, of course! If you don’t buy it now, when will you? !
Just the day before yesterday, the central bank publicly recruited digital currency talents and increased research in the field of digital currency and blockchain. This fully demonstrates my country's recognition of digital currency and blockchain, and also implies that digital currency and blockchain will inevitably affect future finance.
Looking at the international situation, Japan has unconditionally supported Bitcoin, the European Central Bank has stated that it will not regulate Bitcoin, Bitcoin continues to be popular in the free state of the United States, and South Korea has included Bitcoin in the list of commodities. Bitcoin is already everywhere and its popularity is so high, so how can the price not rise?