Recently, Federal Reserve Chairman Powell admitted that with the development of digital currencies, Bitcoin has once again exceeded the $10,000 mark, triggering heated discussions in the market and investor attention. This news not only affects the trend of the cryptocurrency market, but also has a profound impact on the global financial system.

Against the background of the booming development of digital currencies, Bitcoin has once again become the focus of investors. Powell's statement gave the Bitcoin market a shot in the arm, causing its price to rise again. The various factors behind this phenomenon are not only worthy of our in-depth exploration, but also require us to interpret them from multiple perspectives.

First, let’s look at the rise of digital currencies. With the continuous advancement of science and technology, people's dependence on traditional currencies has gradually weakened. As a new type of financial tool, digital currency has begun to be favored by more and more people. As one of the earliest cryptocurrencies, Bitcoin’s decentralization, anonymity and other characteristics have attracted the attention of a large number of investors. As the price of Bitcoin continues to rise, its market value is also expanding, becoming one of the most watched assets worldwide.

Against this background, Federal Reserve Chairman Powell’s statement undoubtedly gave a strong signal to the Bitcoin market. As the leader of the nation's top financial institution, Powell's words and deeds can have a profound impact on the market. His attitude towards digital currencies and Bitcoin is directly related to market trends and investor confidence. Therefore, the impact of his admission on the price of Bitcoin cannot be underestimated.

In addition, the return of Bitcoin to $10,000 also reflects the market’s optimism about the future development of digital currencies. As blockchain technology continues to mature and application scenarios expand, the development space for digital currency will become increasingly broad. Investors' enthusiasm for digital currencies will also increase, which will also provide strong support for the continued rise in prices of cryptocurrencies such as Bitcoin.

However, the volatility of the digital currency market cannot be ignored. The prices of cryptocurrencies such as Bitcoin are highly volatile and investment risks are relatively high. When participating in digital currency transactions, investors need to keep a clear head, rationally judge market trends, and avoid blindly following the trend and speculating. Only on the basis of rational investment can we better grasp market opportunities and achieve wealth appreciation.

To sum up, Federal Reserve Chairman Powell’s admission that Bitcoin has returned to $10,000 is not only an important event in the digital currency market, but also a microcosm of the changes in the global financial system. The development of digital currency is unstoppable, and investors need to remain rational amid market fluctuations and seize investment opportunities. It is hoped that the digital currency market will become more mature and stable in the future and make greater contributions to the development of the global economy.

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.

Bitcoin returned to $10,000 on Tuesday after Federal Reserve Chairman Jerome Powell acknowledged the importance of the central bank developing blockchain.

Bitcoin’s price rose on Tuesday after Jerome Powell highlighted the Federal Reserve’s heavy investment in digital currency development.

Powell also further acknowledged that cryptocurrencies can become a systemic risk to the U.S. dollar.

China’s Belt and Road Initiative is expected to launch a digital currency soon, and the Federal Reserve has made it clear that the United States is doing its best to keep up with the times.

Comments from Federal Reserve Chairman Jerome Powell during otherwise bleak congressional testimony on Tuesday put Bitcoin in the spotlight as BTC/
USD price surged 4% to $10.200.

U.S. Congressman Bill Foster
Foster raised concerns about the need to keep pace with China's digital currency ambitions, while the cryptocurrency market surged after Powell said "many projects" were underway.

Bitcoin surges after Powell admits Fed is working on cryptocurrencies

China has well-documented ambitions in the digital currency space. Congressman Foster’s concerns about China’s digital currency focus on the risks to the U.S. dollar’s status as the global reserve currency.

Bitcoin investors saw this as a positive development, with BTC/USD prices surging as Ball acknowledged that the Fed would be "vigilant" to blockchain developments.

Despite the impressive response from the cryptocurrency market, the Chairman of the Federal Reserve remains wary of the implementation of a digital dollar due to privacy concerns:

In the United States, the idea of using a ledger to record everyone's payments isn't particularly appealing; in China this isn't a problem.

Federal Reserve Chairman: The U.S. Dollar May Face Systemic Risks from Digital Currencies

Still, Powell is clear that Facebook's theoretical implementation of Libra is a game-changer, and his agency now understands the importance of "making rapid progress in this area."

It’s clear in this context why Bitcoin has rallied so aggressively, as the most powerful man in finance acknowledges the speed and scale of the digital currency’s destruction of the U.S. dollar.
This is a definite change from the Fed's historical view on this issue.

China’s ‘One Belt, One Road’ Initiative Expected to Leverage Cryptocurrencies

Another positive is a strong reminder that cryptocurrencies will become a mainstream technology in the world’s second-largest economy. China plans to use blockchain in its Belt and Road Initiative.

Powell has been open about Bitcoin in the past, even acknowledging it as a store of value like gold. Today, he further demonstrated the Fed’s high level of talent investment in cryptocurrencies.

Bitcoin will benefit from better institutional understanding

For the world’s largest central bank, blockchain technology is better understood, which could be good news for Bitcoin.

Bitcoin has been in a huge upward trend since December and appears to have firmly regained the $10,000 level this week.
With the upcoming spring halving, things are looking increasingly stable, especially after Powell’s comments today.