Bitcoin trading price breaks through the 10,000 yuan mark, with a monthly increase of more than 30%

[TechWeb Report] On May 2, media reported that according to market data from the Japanese Bitcoin trading platform, Bitcoin hit an all-time high of $1,457 yesterday, the first time in eight years that the Bitcoin trading price has exceeded 10,000 yuan. The latest domestic price is currently hovering around 8,000 yuan.

In the U.S. stock market, on Monday, Eastern Time, the price of Bitcoin rose as high as $89 in the midday trading of the U.S. stock market, an increase of 6.5%, reaching a record intraday high of $1,449, and once again surpassing the price of gold. It has risen for 10 days in the past 11 trading days. Converted into RMB, it totaled 10,062 yuan.

On April 1, the average price of Bitcoin on various platforms was less than $1,100, but in just a few weeks, its price has risen by more than 30%.

OKCoin analysts said that the main reason for the recent rise in Bitcoin prices is the decision of the U.S. Securities and Exchange Commission (SEC) to review the Bitcoin ETF proposed by the Winklevoss brothers. "The current price increase is also based on the hope that the review will be passed in one fell swoop. The international Bitcoin market has begun to rekindle hope that the Bitcoin ETF will be approved by U.S. regulators."

It is reported that the bitcoin traded in Japanese yen accounts for about 35% of the global total, which has a far-reaching impact on the entire bitcoin market. Japan recently decided to recognize bitcoin as legal tender, which means that it has begun to recognize bitcoin as a payment method. Some merchants in Japan have begun to try digital currencies. For example, Bic Camera, Japan's largest electronics chain, began accepting bitcoin in early April, becoming the country's first major retailer to accept bitcoin.

In January this year, the price of Bitcoin once surged to around 8,888 yuan. Subsequently, the central bank inspection team entered several Bitcoin trading platforms and conducted on-site inspections on the implementation of foreign exchange management, anti-money laundering and other related financial laws and regulations, and trading venue management regulations on the trading platforms, which triggered a flash crash in the price of Bitcoin, and even a daily drop of more than 10%. In April this year, the price of Bitcoin rose again by 32.68%.

Matthew Thompson, an analyst at Coinigy, believes in a research report that Bitcoin still has a 50% chance of reaching the integer mark of $2,000 this year. But it mainly depends on the following three factors: regulatory policies of various countries, the creation and trading of other cryptocurrencies, and the dispute over the expansion of the basic blockchain within Bitcoin. (Tang Wen)