In the world of digital currency, Bitcoin has always been the focus of attention. Recent data shows that the market value of Bitcoin has increased by more than $20 billion per week, and this astonishing figure has sparked heated discussions in the market. Investors have speculated whether Bitcoin has ushered in a new wave of bull market. Let's analyze in depth and uncover the secrets behind the surge in Bitcoin's market value.

The rise of Bitcoin stems from its unique encryption technology and decentralized characteristics. As the first digital currency to apply blockchain technology, Bitcoin has attracted much attention in the past few years. Its scarcity and immutability make it a popular safe-haven asset, especially in the context of global economic turmoil. As the market's uncertainty about the traditional financial system increases, more and more investors are turning their attention to Bitcoin, an emerging asset.

The phenomenon that the market value of Bitcoin continues to grow by more than $20 billion reflects that the market's confidence in digital currencies is growing. This growth is not just a change in numbers, but also a recognition of the long-term potential of Bitcoin by market participants. As traditional financial institutions and large companies have entered the field of digital currency, Bitcoin, as one of the most representative digital currencies in the market, naturally benefits from this trend.

It is worth noting that the surge in Bitcoin's market value has also triggered some doubts. Some experts are concerned about whether this rapid growth is sustainable and the emergence of a market bubble. However, some analysts believe that the growth of Bitcoin's market value is a reflection of the market's future development potential and an inevitable result of the digital currency market entering a mature stage.

In addition to market factors, the growth of Bitcoin's market value by more than $20 billion is also affected by the global macroeconomic environment. In recent years, the popularity of large-scale money printing and negative interest rate policies by central banks around the world has led to increased depreciation pressure on traditional currencies, which has further driven the demand for limited supply digital assets such as Bitcoin. Against this backdrop, Bitcoin, as a decentralized and scarce asset, has attracted more and more capital inflows.

In general, the weekly growth of Bitcoin's market value by more than $20 billion has indeed brought a huge shock to the market. Both supporters and skeptics are paying close attention to the trend of this digital currency. In the future, whether Bitcoin can continue to maintain its growth momentum and whether it will truly usher in a bull market remains to be tested by time. But what is certain is that Bitcoin, as a leader in the field of digital currency, will continue to lead the development direction of the entire market. May we witness the future of Bitcoin together and explore the infinite possibilities of the digital currency world!

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.

The killing of Iranian General Qasem Soleimani last week triggered a series of reactions in the financial market. The market value of Bitcoin increased from a low of $130 billion to the current $151 billion this week, which also contributed to the argument that "BTC is rising because it is seen as a safe-haven asset."

According to Frank Chaparro, news director of The Block, this statement is unfounded because there was no outbreak of local BTC activity in Iran after Soleimani's death.

Data from Grayscale and AmunAG show that the trading volume of cryptocurrency ETPs has indeed risen during periods of geopolitical turmoil.

According to this statement, the factor that led to the rise in Bitcoin prices is not the surge in demand for Bitcoin among local Iranians, but the promotion of market giants.

On-chain data analyst Willy Woo analyzed this wave of market from another perspective. As early as December 7, 2019, he mentioned that the BTC on-chain data began to change from bear to bull. At that time, he also predicted that the BTC price trend would appear in 4-6 weeks. And he added today:

"After a month, the on-chain momentum has switched and the bottom of the accumulation has been completed, and we are crossing the bear market channel."

According to Willy Woo, Bitcoin has turned from a bear market to a bull market.

But not everyone agrees with this view. Well-known trader Peter
Brandt also put forward his point of view. He believes that whether it is a bull market depends on 3 points. He also mentioned that if enough "cryptocultists" have been shaken out since December 17, then the answer is "yes", otherwise it is "no".

Is Bitcoin really ushering in a bull market? What do you think?