Interest from China, Wall Street stirs Bitcoin speculative frenzy

After a long period of quiet, the price of the virtual currency Bitcoin is surging again as signs of interest from China and Wall Street have helped kick off a new speculative frenzy.

经过一段较长时期的平静之后，虚拟货币比特币的价格再次出现飙升。有迹象表明，中国和华尔街对它产生了新的兴趣，从而催生了一波新的投机狂潮。

The price of a single Bitcoin has been steadily rising in recent weeks. On Nov. 4, it spiked particularly sharply, rising above $500 on some exchanges, and bringing the value of a single coin up over 100 percent from a month ago. By the end of Nov. 4, the price had fallen back closer to $400.

最近几周，比特币的价格一直稳步上升。11月4日的飙升幅度尤其大，在某些交易中突破了500美元。与一个月前相比，一个比特币的价格上涨了逾一倍。到11月4日结束时，价格回调到400美元附近。

The recent rally has been the biggest since the online currency entered a sustained decline after the collapse of what was once the biggest Bitcoin exchange, Mt. Gox, in early 2014. That incident — and the use of Bitcoin for drug sales — led many people to write off the virtual money as a passing fad.

近期行情是2014年年初以来比特币最大的一波涨势，曾经最大的比特币交易市场Mt. Gox在2014年年初崩溃之后，这种网上货币就进入一个持续的下降通道。那次事件以及有人使用比特币买卖毒品的现象，导致很多人对这种虚拟货币印象欠佳，认为它只是昙花一现。

Nonetheless, many banks and financial firms continued to study the technology behind the scenes and have recently been expressing their interest — and announcing new investments — in the technology underlying Bitcoin, which is being heralded as a new way to conduct a broad array of financial transactions.

尽管如此，许多银行和金融机构仍在幕后进行着研究，最近还对支撑比特币的技术表示了兴趣，并宣布进行更多的投资，比特币技术被誉为一种实现各类金融交易的新方式。

There has also been a surge in demand for Bitcoin in China, where the new interest is being explained by a number of factors, including the drop in the stock market there, as well as the emergence of a new Ponzi scheme tied to Bitcoin. The price of Bitcoin has been rising faster on Chinese exchanges than elsewhere in the world.

中国对比特币的需求目前也在激增，一些原因导致了人们对它的新兴趣，比如中国股市下跌，以及一个涉及比特币的新庞氏骗局的出现。与世界其他地方相比，中国交易所的比特币价格上涨速度更快。

Bobby Lee, the chief executive of one of China's biggest Bitcoin exchanges, BTCC, said that, as was the case in past price spikes, a critical mass of reports on Bitcoin was drawing a new wave of speculators, betting more on the future of the virtual currency than on its current use.

李宝智是中国最大的比特币交易所之一BTCC的首席执行官，他说，就像过去价格暴涨的行情一样，对比特币的大量报道会吸引一批新的投机者，他们主要是对这种虚拟货币的未来而非当前的用途下注。

"There are a few tipping points in a row, and you get a tidal wave," Mr. Lee said. "It's classic bull market."

"连续突破几个临界点，就形成了一波巨浪，"李宝智说。"这是典型的牛市。"