Since April 24th, Bitcoin has been singing all the way, hitting record highs. On May 4th, it exceeded $65,438 +0.600, an increase of more than 4%. According to analysis, the increase in Japanese trading volume and the relaxation of US bitcoin regulatory policies are the main driving forces behind it. At the current price, gold is still far behind.

Cause of rise

According to relevant media statistics, in May 1 day, bitcoin yen transactions accounted for more than half of global transactions, accounting for 52%, far exceeding 28% of US dollar transactions and 8% of RMB transactions. The reason may be that the use space of Bitcoin in Japan is gradually expanding, and Internet securities trading is also actively moving closer to using virtual currency transactions. Moreover, last month, the Japanese government cancelled the consumption tax on Bitcoin, which made Japanese investors more aware of the legitimacy of Bitcoin. More than a dozen Japanese companies have set up trading platforms in digital currency.

In addition, the release of bitcoin hedge funds by US regulators is also a big positive factor. Although in March this year, the US Securities and Exchange Commission repeatedly rejected the application of Bitcoin ETF. However, on April 27th, the US Securities and Exchange Commission announced that it would re-examine the application for Bitcoin ETF initiated by Winklevoss, which helped Bitcoin break through the historical barrier of $65,438+$0.300.

Moreover, with the passage of time, due to technical limitations, the output of new coins in Bitcoin has gradually decreased. Analysts of ARK Investment, an American professional research company, pointed out: "As of last summer, the annual output of Bitcoin has halved, and the shrinking supply is also one of the reasons for the price increase of the currency."

The gold price difference is nearly $400.

I believe that investors can't believe that Bitcoin can surpass the price of gold. But now the price of Bitcoin is $65,438 +0.600, which makes the gold that is still falling far behind, with a difference of nearly $400.

Moreover, according to statistics, since April 24, the transaction price of Bitcoin has only fallen on the 24 th, and it has closed up on other trading days. Brian Kelley, the manager of digital asset hedge fund and the founder of BKCM LLC, an investment management institution, said: "Bitcoin can be regarded as digital gold. He believes that the upward trend of Bitcoin is much stronger than that of gold."