On May 5, 2013, Bitcoin rose sharply. On that day, the price of Bitcoin was 800 RMB, and the big A was 3,000 points. Bitcoin was considered to be a dream and a Ponzi scheme.

On February 29, 2024, Bitcoin also rose sharply. The highest price of Bitcoin reached US$64,000 per coin. Today’s exchange rate is 7.39, equivalent to 470,000 RMB per coin, and today’s big A is 2,992 points.

Big A is still around 3,000 points after 11 years. The price of Bitcoin, which is considered a Ponzi scheme, has increased nearly 587 times.

Bitcoin experienced significant fluctuations after exceeding US$64,000 this morning, and the contract market experienced a large-scale liquidation. In the past 24 hours, the entire network liquidated positions to US$448 million.

According to on-chain monitoring data, the amount of liquidated positions across the entire network rose to US$448 million in the past 24 hours, of which US$117 million was liquidated for long orders and US$330 million was liquidated for short orders.

Bitcoin has reached a new high against the RMB, which means that those who used the RMB to buy Bitcoin at the peak of the bull market in 2021 have all unwound. But there is no new high for the U.S. dollar. Since the current anchor is the U.S. dollar, all U.S. dollar assets will need to be speculated on a first-come, first-served basis.

Bitcoin continued to expand its gains today, breaking through $60,000 again after 28 months and pulling to $64,000. From February 2024 to the present, all but eight trading days have risen, with the cumulative increase in that month reaching more than 40%. Don't worry, it's just the early stages of a bull market. Breaking through the historical high price of $69,000 is the arrival of the mid-term bull market.

In 2013, a Bitcoin worth 800 RMB, which was considered a Ponzi scheme, has now risen to 470,000 RMB.