中國帶來的市場恐慌到此為止。周一，比特幣似乎正在消除投資者對中國政府打壓加密貨幣的不安，實現了大幅反彈。

截至美國東部時間上午十點左右的24小時內，比特幣價格大幅上漲超過10%，在近一周內首次突破了4,000美元大關。

這是一次華麗的命運逆轉，因為過去一周對于數字貨幣而言是糟糕的一周。摩根大通（J.P. Morgan）CEO抨擊比特幣是“欺詐”，另外中國政府命令加密貨幣交易中心停止交易。

這些壞消息導致比特幣價格大幅下跌到接近3,000美元，比九月初下跌了近40%。比特幣在9月份時一度突破了5,000美元。

下面是根據Winkelvoss指數的數據得出的比特幣波動情況。該指數主要統計多家比特幣交易中心的平均價格。

So much for those China chills. On Monday, bitcoin appeared to be shaking off investors' anxiety about a cryptocurrency crackdown by the Chinese government, and posting big gains.

As of mid-morning Eastern Time, the price of bitcoin had soared over 10 percent in the last 24 hours and crossed above the $4,000 mark for the first time in nearly a week.

This is a big reversal of fortune after a terrible week for the digital currency in which the CEO of J.P. Morgan (jpm, +1.22%) slammed bitcoin as "a fraud" and the Chinese government ordered cryptocurrency exchanges to cease trading.

The spate of bad news led the price of bitcoin to nosedive to near the $3,000 mark—a nearly 40% drop from early September when it briefly crossed into $5,000 territory.

Here's what the recent ride has looked like, according to data from the Winkelvoss index, which averages the price of several bitcoin exchanges:

現在很難確切地解釋比特幣最新一輪反彈的原因，不過最大的可能是對加密貨幣彈性的基本信心。中國對比特幣的打壓，一度被視為對比特幣生死存亡的威脅，但現在交易商似乎押注比特幣能夠幸存下來，因為其之前曾經遭遇過許多危險：

民族國家對比特幣的打壓越嚴重，有經驗的投資商就會買進更多比特幣。

- Jameson Lopp (@lopp)，2017年9月18日

也有人提到了最近的一項分析。這項分析支持了一種通俗的說法，即比特幣本身已經成為一類永久性資產，可以與貴重金屬相媲美，甚至可以成為央行的一種儲備貨幣：

焦點：關于比特幣，上周的事情告訴我們什么https://www.bloomberg.com/view/articles/2017-09-18/what-last-week-tells-us-about-bitcoin

- Jerry Brito (@jerrybrito) ，2017年9月18日

這種樂觀情緒可能是有根據的。盡管如此，比特幣從上周的打擊中恢復過來仍有很長的距離 — 盡管價格有所反彈，但比特幣仍比其最近的高點低了20%左右。（財富中文網）

譯者：劉進龍/汪皓

It's hard to say for sure what explains bitcoin's latest resurgence but the best guess may be an underlying confidence in the crypto currency's resiliency. While a crackdown by China might have once seemed to be an existential threat, it appears traders are for now betting that bitcoin will survive this as it has so many previous perils:

The harder nation states crack down, the more coins smart money will buy.

- Jameson Lopp (@lopp) September 18, 2017

Others pointed to a recent analysis that supports a popular narrative that bitcoin has become a permanent asset class in its own right, one that will jockey with precious metals and may even become a reserve currency for central banks:

Spot on: What Last Week Tells Us About Bitcoin https://t.co/TPoka1x98r pic.twitter.com/XADY7uAVXp

- Jerry Brito (@jerrybrito) September 18, 2017

This optimism may be well-founded. Nonetheless, bitcoin still has a ways to recover from last week's smackdown—despite the recent rally, the currency is still around 20% below its recent highs. (P.S. If you're bearish on the whole thing: here's our handy guide to shorting bitcoin).