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.

What determines the price of Bitcoin? The value of Bitcoin now or in the future depends entirely on the prediction of the future development of the world economy and the understanding of Bitcoin. Compared with the market size of other industries, Bitcoin is still a relatively small market. Once a large number of The entry of funds can cause the price of Bitcoin to fluctuate up and down. Therefore, the price of Bitcoin is still very unstable. Let’s take a look at the detailed introduction below for the specific factors that affect the price trend of Bitcoin!

 Summary of factors affecting Bitcoin price trends:

1. The hype surrounding Bitcoin, the positive and negative news about it;

2. Bitcoin supply and demand;

3. Bitcoin and cryptocurrency regulations in different countries;

4. The degree of application of Bitcoin in daily life (e-commerce payments, donations, BTC futures, etc.);

5. Number of competing cryptocurrencies;

6. Exchanges for trading cryptocurrencies;

7. The long and short behavior of professional investors;

8. Difficulty of Bitcoin mining.

Bitcoin’s Internal Core Governance

This point is closely related to the above issue. Today, Bitcoin remains decentralized and not controlled by any organization or individual. But in theory, Bitcoin’s future lies in the hands of those who own it.

Another theory is that Satoshi Nakamoto handed over control of Bitcoin to Gavin
Andersen, who later shared that control with others. There are many rumors and debates about whether a few specific Bitcoin developers have control over the system.

Bitcoin price historical fluctuations

(The figure records the phased changes in Bitcoin prices from 2012 to 2018. The original author said that in most cases, the decline in Bitcoin prices was due to technical failures/hacker attacks and government regulations)

One of Bitcoin's early major price drops occurred on March 12, 2013, when a bug in the Bitcoin protocol was detected. That is, the protocol does not store data about fund expenditures, causing the same funds to be used repeatedly. As a result, traders panicked and began selling Bitcoin, causing the price of Bitcoin to drop by 23% (from a maximum of $48 to $37).

Until 2013, the exchange rate of Bitcoin did not exceed $15, but subsequent media reports caused its price to skyrocket by more than $200.

After the April incident, the price of Bitcoin fluctuated around $120 until the end of November, when the price suddenly jumped to $1,150. But by mid-December, the price of Bitcoin continued to fall, and it has not exceeded the $1,000 mark in four years.

In January and February 2014, the price of Bitcoin increased steadily, and then suddenly plummeted from $867 to $439, a drop of nearly 50%. This plunge was due to the Mentougou server being hacked, resulting in the loss of more than 700,000 Bitcoins (including customer funds and the exchange's own funds).

From September to October 2017, after the Chinese government announced that Bitcoin China exchanges would cease trading on September 30, the price of Bitcoin fell by 35%. Of course, we can’t forget one of Bitcoin’s wildest price surges, when it surged to an all-time high of nearly $20,000 and fell sharply due to the massive sell-off that followed.

 What is the current price of Bitcoin?

Today, the price of Bitcoin is 68.168.84 yuan. Why has the price of Bitcoin continued to rise in the past week? The digital dollar released a white paper yesterday, describing the prototype of the US dollar digital legal currency. The issuance of the white paper indicates that the U.S. dollar’s legal digital currency is about to be launched. The world’s first and second largest economies have successively launched their own legal digital currencies, indicating that the general trend of digital currency has become unstoppable.

In addition, legendary trader Paul previously stated in an interview with CNBC that Bitcoin can hedge the risk of US dollar inflation and will be prepared to invest more than 1% of his assets to purchase Bitcoin. For the top 400 of the Forbes rich list
For him, 1% will mean a purchase of more than 100 million US dollars. The gradual entry of "bull funds" including Grayscale Trust will become the basis for Bitcoin's continued rise in the future.