The "carnival feast" continues! Bitcoin's entire network exploded 1.3 billion in 24 hours, and the price of the coin exceeded 190,000 yuan per coin. A review of the major events in Bitcoin's history

Editor Zhang Yangyun

2020 can be described as a "feast of capital" for Bitcoin, and the "feast" is still going on.

Image source: Visual China

On the morning of the 31st, Bitcoin broke through the $29,000 (about RMB 190,000) mark, continuing to set a new record high. As of press time, it has fallen by more than $900 in the short term and is now trading at $28,544.2 per coin.

Bitcoin network liquidated 1.3 billion in 24 hours

According to data from Bitcoin Home Network, in the past 24 hours, 30,550 people’s digital currency funds worth US$268 million (approximately RMB 1.744 billion) were liquidated.

Among them, the funds from Bitcoin liquidation were US$204 million (approximately RMB 1.327 billion).

It is worth noting that in the current 24-hour Bitcoin long-short ratio of all exchanges on the entire network, the bulls have a slight advantage.

In addition, the Bitcoin Fear and Greed Index was 91 on December 30, and has been above 80 since November 6. (0 means "extreme fear" and 100 means "extreme greed.")

It is worth mentioning that from June 15th to the present, overall, Grayscale's Bitcoin holdings have been showing an overall increasing trend.

What is Grayscale Bitcoin Trust?

Grayscale Bitcoin Trust holdings represent the amount of BTC held in the BTC Trust Fund issued by Grayscale Trust. As the first cryptocurrency investment tool reported to the SEC, Grayscale Trust's holdings reflect to some extent the amount of funds from traditional institutions entering the cryptocurrency market .

Bitcoin History

Bitcoin was officially released in 2009, but because few people knew about it, the price of 1 Bitcoin was only a few cents.

In April 2013, as more and more people recognized and discovered Bitcoin, its price soared by more than 10,000 times in four years, with the highest price of 1 Bitcoin reaching US$266.

In November 2013, the price of Bitcoin soared to $1,000.

On December 5, 2013, the People's Bank of China and five other ministries issued the "Notice on Preventing Bitcoin Risks", and Bitcoin began to decline, but its related applications continued to grow and develop.

In 2015 and 2016, Bitcoin was unknown and even forgotten.

On September 4, 2017, the People's Bank of China and seven other ministries and commissions issued the "Announcement on Preventing Risks of Proxy Issuance and Financing", requiring all domestic exchanges to close by the end of October.

Subsequently, various exchanges moved overseas and opened foreign trading platforms. Virtual currencies such as Bitcoin returned in full force again, and their prices continued to rise, reaching a maximum of 120,000 yuan per coin.

In 2018, Bitcoin did not experience much ups and downs, many blockchain media platforms went bankrupt, and the price remained between 20,000 and 25,000 RMB.

On April 1, 2019, the price of Bitcoin suddenly skyrocketed, reaching $5,000 at one point.

On June 20, 2019, the price of Bitcoin once again exceeded $10,000.

On October 25, 2019, the Political Bureau of the CPC Central Committee proposed to take blockchain as an important breakthrough for independent innovation in core technologies and accelerate the innovative development of blockchain technology and industry.

In 2020, Bitcoin will halve for the third time this year, and the price will rise accordingly.

On February 9, 2020, the price of Bitcoin once again exceeded $10,000.

On March 12, 2020, Bitcoin experienced Black Thursday, falling from $8,000 to $4,860.

At 3:23 on May 12, 2020, the third Bitcoin halving was completed, and the output dropped from 12.5 to 6.25

On December 16, 2020, Bitcoin broke through the $20,000 mark.

Source: Daily Economic News compiled from Bitcoin Home Network, Sina Finance and other public information

The above content is published by Meijing APP for the purpose of transmitting information and does not constitute any investment advice. Investors act accordingly at their own risk.

Cover image source: Visual China