What is the reason for the skyrocketing bitcoin?

From noon yesterday 12, bitcoin suddenly soared from $4 100 15%, and the digital cryptocurrency market broke out as a whole. Due to the sharp increase of BTC price, most cryptocurrencies have increased by at least 10%. Twenty-four hours later, the price of Bitcoin did not plummet like the previous surges.

In the digital cryptocurrency market, the market price rose by 20% in one day. Almost all the media and communities in the currency circle are calling for the bull market to start. Since Tuesday afternoon, many media have been analyzing the reasons for this skyrocketing. Some people think that the SEC passed the fake news of ETF, some people think that Wall Street funds bought a lot of bitcoin, and some people think that it was created by bookmakers.

BlockBeats, I hope to summarize the recent 24 value discovery speeches in this article, and provide readers with a clearer context of market thinking.

Did the SEC break the fake news through bitcoin and ETF?

On April 2, the price of Bitcoin rose rapidly in a short time. At the same time, many news about the American siesta SEC began to spread in the market. Although the news was soon proved to be true, many people actively spread the news. The official news bulletin platform of the US Securities and Exchange Commission (SEC) and official Twitter did not release relevant information.

This information source is suspected to be an online news website, FinanceMagnets. com & amp； Nbspp4. Moon, 1 The onion news released on April Fool's Day is actually an April Fool's joke. At the beginning of the boom, many people thought that the reason for promoting the flow of funds in the market might be related to this fake news.

However, another news that touched the market sentiment is true. According to Bitcoin reported on April 2, the United States proposed two new cryptocurrency bills, aiming at solving the problem of price manipulation and improving the country's competitive advantage in emerging industries.

Although these two bills are only in the proposal stage, there is still a long way to go before they can be really implemented. They must be approved by the organizing Committee and then passed by the House of Representatives. Then it needs to be submitted to the Senate, and finally it will be signed by the president and come into effect. However, some market-related personnel have interpreted the proposal of these two bills to promote the adoption of Bitcoin ETF.

Weibo, who is now the official of CNBCFutures, also felt the heat wave of bitcoin soaring. Since yesterday, this Twitter has continuously posted 10 tweets, paying attention to the price trend of Bitcoin all day.

In the TV commentary, critics of American Consumer News and Business Channel discussed that Bitcoin soared 15% in an hour, which may be related to the stupid holiday news of financial giants. Capital pursues interests, and they are willing to give up their previous decisions in the face of interests. Previously, due to the huge changes in bitcoin prices, American consumer news and business channels stopped tracking bitcoin prices.

What is the reason for the skyrocketing bitcoin? Has the huge amount of money from Wall Street entered the market?

Reuters first reported the direct cause of the soaring bitcoin, which was caused by the bulk orders of anonymous buyers. The CEO of BCB Group, a London cryptocurrency company, said that the soaring bitcoin was either due to the soaring bitcoin or the algorithmic trading orders of raken and Bitstamp worth $654.38 billion. Among them, automatic trading orders bought 20,000 bitcoins in three exchanges.

CharlieHayter, founder of CryptoCompare, a cryptocurrency information website, said that large-scale orders often cause quantitative traders to buy. With the skyrocketing bitcoin, there are 6 million transactions per hour, which is 3-4 times the normal number, and orders are mainly concentrated in Asian exchanges. This caused other purchases to follow up and caused a buying frenzy.

MichaelKazley, co-founder of Crescent, a crypto-asset investment company, believes that the rebound in bitcoin prices will close bad checks and further promote the market. The feeling is a typical crush, and the threat of price increase forces the empty side to close its position and buy back. Edward Morra, a Twitter blogger, posted that only bad checks worth about $500 million would be cleared on BitMEX.

The real reason for the sudden rise of mainstream cryptocurrencies such as Bloomberg, Crypto and Bitcoin is still unclear, but the upward trend of the market continues.

The upsurge of cryptocurrency made the market price of cryptocurrency hit a record high at 20 19. According to CoinGecko's data, the current market price of cryptocurrency is about178 billion US dollars, of which the market price of Bitcoin is about 88.5 billion US dollars.

In addition, the net profit of assets of many cryptocurrency institutional investors has also increased. On April 2nd, Grayscal, a cryptocurrency investment company, specifically stated that as of April 2nd, the net profit of its total assets under management reached 1 654,380 billion USD, an increase of about 1.7% over the previous day. Among them, the net profit of BTC investment trust fund increased to nearly 654.38+0 billion US dollars. According to the survey of BlockBeats, this is the first time that the gray scale investment has returned to the management scale of $654.38 billion from last year to June 265.438+0.

There are indications that with the entry of market liquidity, the market has obviously picked up, the buyer's market demand has increased, and the price of bitcoin has risen. However, it is hard to imagine that it has soared 1 5% within1hour.

What is the reason for the skyrocketing bitcoin? Is the pulling plate of the mining machine open?

This statement comes from the news report "Preparing for the War in the Wet Season" in Odaily Planet last month. The article mentioned that several mining machine companies and mining teams, including Bitland, transported hundreds of thousands of bitcoin mining machines to Sichuan and Yunnan. The article also mentioned that the 654.38 million+mining machines brought by Bitland accounted for 3% of Bitcoin's computing power.

When the rainy season comes, the river enters the rainy season. At this time, the hydropower price of the hydropower station can be reduced to 1-2 cents per kilowatt hour, which greatly reduces the mining cost.

The media and critics believe that if the currency price can be raised at the beginning of abundant water resources, miners can get higher profits. In other words, higher-priced digital cryptocurrencies such as Bitcoin can be mined at a lower cost. This statement can also prove the price of the shutdown coin.

Due to the rising currency price, many mining machines are restarted after the price is restored, because the mine cost cannot cover the income. According to the price data of discontinued coins provided by F2Pool, the L3 miner, Monroe miner and T9 miner of Ant can be mined again compared with three months ago.

Therefore, in the face of huge interests, it is said that mining is listed.