Amid the frenzy of the digital currency market, Bitcoin shined again, breaking through the $10,000 barrier and triggering a frenzied pursuit by global investors. So, where did this Bitcoin surge come from? Let’s dive in and uncover the real reasons behind Bitcoin’s surge.

The price of Bitcoin has been rising all the way, breaking through the $10,000 mark again. This feat is no accident. Behind this surge, there are many factors working together. First, Bitcoin’s scarcity is an important driver of its price climb. The total supply of Bitcoin is limited, and the approach of the miners' halving event has further reduced the supply. Investors' awareness of its scarcity has intensified, driving the rapid rise in prices.

In addition, increased global economic uncertainty is also one of the reasons for the rise in Bitcoin prices. As the COVID-19 epidemic spreads and global stock markets become turbulent, investors begin to seek safe-haven assets, and Bitcoin's status gradually becomes prominent. In the context of economic turmoil, Bitcoin is regarded as a safe-haven asset, attracting the attention of more investors, which in turn drives its price to soar.

In addition, the maturity and regulation of the Bitcoin market have also provided strong support for its price increase. In recent years, governments and regulatory agencies of various countries have continuously increased their supervision of the digital currency market, the market has gradually become standardized, and investor confidence has been enhanced. This improvement in the regulatory environment has made more traditional investors willing to get involved in the digital currency market, providing a more solid foundation for the rise in Bitcoin prices.

In addition, Bitcoin's technological innovation and community consensus are also one of the reasons for its skyrocketing price. As the first digital currency to apply blockchain technology, Bitcoin has always been at the forefront of the industry. Its decentralized and non-tamperable features have been widely recognized, and its technical advantages have brought more supporters and investors to Bitcoin, which in turn has promoted the continued rise in its price.

Overall, Bitcoin has once again exceeded $10,000, and the rise is due to a combination of factors. Factors such as scarcity, hedging properties, improved regulatory environment, and technological innovation have jointly promoted the rapid rise in Bitcoin prices. Investors' confidence in Bitcoin continues to increase, and the digital currency market is also full of vitality. How Bitcoin will evolve in the future is still full of unknowns. Let us wait and see to witness the next legend of the digital currency market.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

At 11 a.m. on February 9, BTC rose straight up and officially broke through the $10,000 mark at 11:14, with a 24-hour increase of 2.81%. However, after reaching US$10,000, it fell sharply, once falling to US$9,955. After that, it fluctuated within the range of US$9,950-10,000 in the short term, and exceeded US$10,000 again at 11:18.

Public data shows that there are currently less than 100 days until BTC is officially halved. The BTC halving market has long been recognized by the industry as an opportunity for BTC to rise. On February 5, cryptocurrency analyst Rekt
Capital said that Bitcoin prices may reach a record high within 12 to 18 months after the halving.

Bitcoin worth ten thousand dollars seems to have a special impact on people. Whenever the price of Bitcoin reaches around ten thousand dollars, market sentiment will be aroused. According to statistics from Caijing.com·Chain Finance, since BTC was launched, BTC has exceeded the $10,000 mark five times.

The first time BTC broke through the US$10,000 mark can be traced back to November 29, 2017. This is the first time that BTC has exceeded US$10,000 since its launch. After BTC rose above $10,000 on November 29, 2017, BTC continued to rise for several days. By December 17, 2017, BTC rose to $19,821, once approaching $20,000, reaching the highest price since the launch of BTC.

In October 2017, the Chicago Mercantile Exchange announced that it would soon launch Bitcoin futures contracts, which laid the foundation for the explosion of the crypto market. Since then, the popularity of the ICO financing market has provided financial support for the rise of BTC.

However, with the opening of the futures market and the tightening of government regulations on ICOs, BTC fell after hitting $20,000.

On February 1, 2018, BTC officially fell below US$10,000, losing US$4,000 within 5 trading days, with the lowest price being US$6,032. After hitting the bottom, it rose slowly. By February 17, 2018, it rose to US$10,000 again, but fell again to US$10,000 five trading days later. As of February 26, 2018, BTC rose above $10,000 for the third time. Like the previous time, BTC’s rise this time was not lasting.

On March 6, 2018, the BTC market reached an inflection point, turning from rising to falling, and officially fell below $10,000 on March 8, 2018.

Since falling below $10,000, the cryptocurrency market has entered a long bear market.

The fourth time was June 22, 2019. This round of rising prices lasted from June 19, 2019 to June 26, 2019. After eight consecutive trading days of rising, BTC hit the $14,000 mark on June 26, 2019. After hitting a high, it began to fluctuate and fall, and officially fell below $10,000 on September 24, 2019.

Jingcaijing.com·Chain Finance understands that this round of rise has hit the highest price point of BTC since February 2018. Prior to this, BTC had continued to fluctuate sideways between US$3,200 and US$4,000 since November 2018, and the market value of BTC fell by 80% from its peak.

So far, there is no evidence to show the real cause of this round of rise. However, during this period, whether it is changes in the international situation, the entry of traditional capital, or the benefits of BTC itself, it has provided the possibility for BTC to rise.

On June 21, Trump shouted to Iran that he did not want a war with Iran, but that a war would result in "total destruction." This statement originated from the Iranian Air Force's announcement the previous day that it had shot down a US military unmanned reconnaissance aircraft in Iranian airspace;

In addition, in mid-June, Facebook announced the release of the digital currency project Libra, which involved the layout of stablecoins and blockchain technologies by multiple traditional Internet giants, triggering continued heated discussions inside and outside the industry;

With the arrival of the flood season in Sichuan in June, miners' mining sentiment has increased, and Bitmain has also reported that it plans to launch an IPO;

In addition, as the Bitcoin halving market is approaching, the halving cycle market has gradually begun to appear.

The second time it exceeded $10,000 was on October 26, 2019. Since October 25, 2019, BTC has been rising for two consecutive days, hitting a high of $10,500 on October 26, with a maximum increase of more than 40%. Along with this rise in BTC, A-share blockchain concept stocks have collectively been rising by the daily limit.

However, this round of rise did not last long. After hitting a high on October 26, it fell all the way. By November 25, it once fell to $6,500. Since then, it has been fluctuating in the range of 6,500-8,000 US dollars. It fell below 6,500 US dollars on December 18 and then bottomed out, starting a volatile upward trend.