Editor's Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Chatting with Xiaozha (ID: xiaonazha88)

, reprinted by Odaily with authorization.

The price of Bitcoin broke through the $20,000 mark, and at the time of writing, the price of Bitcoin was $21,325. Breaking through the $20,000 mark means that buying Bitcoin at any time in the past will not lose money, which marks that Bitcoin has reached a new height.

Bitcoin has broken through its previous high. In the words familiar to the currency circle, only stars and seas are left for Bitcoin, because a new round of cryptocurrency boom is spreading.

The big story of human wealth transfer opens a new chapter.

1. Hot searches on Weibo are coming, and more media reports are on the way

At 7:08 in the morning, most of the Chinese people are still asleep, but the news about BTC’s website breaking the $20,000 mark has become a hot search on Weibo.

The meaning of the hot search, let us know more about Bitcoin. After breaking through the $20,000 mark, it is estimated that many mainstream media will report on him.

Every round of a big bull market is indispensable for the voices of the mainstream media. Their voices attract more users' attention for BTC and cultivate new users for BTC.

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2. Institutions run into the market, buy, buy, buy

Yet another institution entering the cryptocurrency space.

Canadian fund manager CI Financial completes initial public offering (IPO) of $72 million bitcoin fund,

The CI Galaxy Bitcoin Fund will invest directly in Bitcoin, traded on the Toronto Stock Exchange in U.S. and Canadian dollars.

The IPO has attracted interest from a wide range of investors, including institutional investors, individual investors, high-net-worth investors and financial advisors.

What can be felt is that not only investors, but the entire field is being institutionalized.

The Chicago Mercantile Exchange Group (CME Group) announced on Wednesday that it will launch Ethereum (ETH) futures products next year.

Now with the price of Bitcoin breaking through $20,000, they will launch futures related to Ethereum. The product will be available on February 8, 2021.

CME Group’s bitcoin futures market is a good proxy for institutional interest in bitcoin, as the firm can connect to the market in the same way it connects to CME Group’s traditional derivatives products.

In early 2020, CME Group launched its Bitcoin options product.

Bitcoin is making a magnificent turn from a wild child to a guest of institutional investors. Payment giant PayPal has supported bitcoin transactions and will support 28 million merchants around the world to accept bitcoin payments next year. Listed companies such as MicroStrategy and Square are also scrambling to allocate bitcoin positions.

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3. Looking back at the last cycle of Bitcoin, breaking through 20,000 is just the beginning

We know that Bitcoin experiences a halving of output about every four years, and Bitcoin has a four-year cycle.

It is often said that history will not simply repeat, but it always has the same rhyme. However, no one can guarantee that Bitcoin will develop according to the planned script.

Take a look back at the playbook of Bitcoin’s last cycle and see how history has played out.

At the end of 2016, Bitcoin was around $1,000. In the bull market in 2017, Bitcoin rose to nearly $20,000, an increase of nearly 20 times.

Today, Bitcoin breaks through 20,000 US dollars, that is, it breaks the historical high in 2017. A simple analogy to the end of 2016 found that history seems to be repeating itself, and the K-line of Bitcoin has many similarities.

Another reincarnation of Bitcoin, here it comes. It stepped on the rhyme of history and strode forward.

Bobby Lee, who was rejected when he gave Lang Xianping bitcoins in 2014, predicted that by the end of next year, it could reach as high as $330,000. What do you think?

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4. The story of wealth transfer, the eternal bull market

Meituan’s Wang Xing says cryptocurrencies could be the biggest wealth transfer in human history.

“Zonghengsihai (Weibo @TumbleBit)”, an early member of the Bitcoin Chinese community, proposed the concept of “eternal bull market” in 2019.

In the eternal bull market, the wealth level is almost fixed, and five levels are listed:

S+ 2100btc+

Grade C 0.21btc+

Class B 2.1btc+

Grade A 21btc+

S-class 210btc+

What level are you at? Which level are you ready to reach?