Let me tell you a ghost story: Bitcoin is heading towards $20,000 and it rose by $2,000 in a quarter of an hour

The first week of December has not yet ended, and Bitcoin has already risen by more than 50% this month.

On Thursday local time, data from the U.S. trading platform GDAX showed that Bitcoin rose above $19,700 during trading, setting a new record high. It has risen by more than 50% in the past 24 hours. As of the last update at nearly 1 a.m. Beijing time, it had fallen back below $16,500.

According to data from Luxembourg trading platform Bitstamp, Bitcoin once rose by more than 17%, setting a record high of $15,995. It has risen by about 60% so far this month. As of the latest update, it has fallen back below $15,300, and the intraday gains have narrowed to less than 13%.

The Bitstamp platform showed that at around 9 am Beijing time on the 7th, Bitcoin had just crossed the $14,000 threshold.

According to statistics from Wall Street Journal, it took 8 days for Bitcoin to rise from $5,000 to $6,000. After that, it took 8 days, 14 days, 9 days, 2 days, 1 day, 6 days, 17 days and three hours to break through the $1,000 mark. It took less than 10 hours for Bitcoin to rise from $14,000 to $15,000.

Since the beginning of November, the price of Bitcoin has risen by more than 100%. Since the beginning of the year, the price of Bitcoin has increased by about 14 times. The following figure shows the price trend of Bitcoin since 2012. At the beginning of 2012, the transaction price of Bitcoin was only $5...

If priced in RMB, Bitcoin is even more "crazy".

Bitcoin market data from the OKEx platform on December 7 showed that the price of Bitcoin reached a high of nearly 100,000 yuan, reaching 99,748.7 yuan, and has increased by 55% so far this month.

Analysts at OKEx, an overseas currency-to-currency trading platform, said that recently, there have been an endless stream of Bitcoin forks launched by teams or individuals. All users who hold Bitcoin can get corresponding forked coins, so most users who currently hold Bitcoin are unwilling to sell them, and users who do not have Bitcoin also buy Bitcoin in order to get the candy of forked coins.

Bitcoin futures help Bitcoin's rally may continue

Bitcoin has been rising sharply recently. Whether from a technical perspective or from a news perspective, some analysts believe that Bitcoin may rise further in the future.

Fiona Cincotta, senior market analyst at City Index, pointed out in the report that Bitcoin's rise seems unstoppable. "Considering that both CBOE and CME will launch Bitcoin futures this month, a possible rise to $20,000 is nothing for Bitcoin. However, the launch of Bitcoin futures also means the beginning of short selling, which may further increase volatility."

A recent technical analysis article on Bitcoin information website Coindesk believes that Bitcoin’s nearest resistance level is around $16,194, and both the five-day and ten-day moving averages are tilted upward, meaning that any corrective pullback is likely to be short-lived, and there is currently no major sell signal released by the relative strength index (RSI).

Therefore, the article predicts that Bitcoin may rise above $16,194 or even higher. The possibility of falling back to $11,000 is not ruled out, but the drop to $11,500 may only be a short-term performance. A major adjustment is not possible at present.

When Bitcoin can rise with a K-line close to 90 degrees, its decline is likely to be cliff-like. If the bubble will eventually burst, how can you short Bitcoin? (See "Close-up | Short-term surge breaks through the 10,000 yuan mark. This is a tutorial on shorting Bitcoin")

Wall Street Journal previously mentioned that after the world's largest futures exchange CME announced last Friday that it plans to launch Bitcoin futures contracts on the 18th of this month, the largest US options exchange CBOE announced on Monday that it will launch such futures on December 10, becoming the world's first exchange to launch Bitcoin futures contracts.

CNBC reported that the launch of Bitcoin futures by these two well-known exchanges seems to mark another step towards digital currency becoming a legal asset.

In addition, the Tokyo Financial Exchange, one of Japan's leading financial exchanges, also announced that it will begin preparations for Bitcoin futures early next year.

Nikolaos Panigirtzoglou, an analyst at JPMorgan Chase & Co., has also said that once Bitcoin enters the formal financial market, it is expected to promote cryptocurrencies to an emerging asset class. Bitcoin may join the ranks of gold and become a reliable long-term tool for storing wealth.

Former Fortress hedge fund manager Michael Novogratz also said in an interview with CNBC last week that he expects the price of Bitcoin to reach $40,000 by the end of next year.