It's still far from a safe bet, Reuters crypto currency correspondent Tom Wilson.

路透社加密貨幣記者湯姆-威爾遜（Tom Wilson）表示，這還遠遠不是一個安全的賭注。

Even though we've seen the embrace off some big companies like PayPal or like Facebook of digital coin technology of Bitcoin of other Cryptocurrencies, Bitcoin is still very much on the fringes.

即使我們已經看到了一些大公司的擁抱，如PayPal或像Facebook的數字硬幣技術的比特幣的其他加密貨幣，比特幣仍然是非常邊緣化。

For many large investors, pension funds don't really like it.

對於很多大戶來說，養老基金並不是很喜歡。

Large asset managers don't really like it, and that's because there are still many risks associated with it.

大的資產管理公司並不是很喜歡，那是因為它還是有很多風險的。

Bitcoin soared 160% this year.

比特幣今年暴漲160%。

Steep trajectory of its rally echoes that of 2017, when a retail led buying spree pushed it to nearly $20,000 only for it to crash more than 50% a month later.

其漲勢的陡峭軌跡與2017年相呼應，當時散戶主導的買盤狂潮將其推至近2萬美元，但一個月後卻暴跌超過50%。

But 2020 isn't the Wild West of three years ago.

但2020年已經不是三年前的狂野西部了。

Fans of Bitcoin say that this rally is different to the 2017 bubble.

比特幣的粉絲表示，這次的反彈與2017年的保麗龍不同。

That's because the structure of Bitcoin markets has changed quite considerably.

這是因為比特幣市場的結構已經發生了相當大的變化。

Now there are larger investors involved in the space instead of a no overwhelming majority of retail investors.

現在有更大的投資者參與到這個領域，而不是沒有壓倒性的多數散戶。

At the same time, there are more sophisticated derivative markets so investors can hedge their positions.

同時，還有比較成熟的衍生品市場，所以投資者可以對沖倉位。

Onda also a wider variety of custody services so investors can safely store their digital coins.

Onda還有更多種類的託管服務，讓投資者可以安全地存儲數字幣。

It's easier these days for professional investors to seek exposure to crypto.

現在專業投資者尋求接觸加密技術比較容易。

Their involvement, the argument goes, may lead to more liquidity and less volatility.

他們的參與，論點是，可能會導致更多的流動性和更少的波動性。

As regulation develops, big names are moving into the market.

隨著監管的發展，大牌企業紛紛入市。

Bitcoin is also benefiting from increased appetite for riskier assets following government and central bank stimulus measures to combat recessions.

在政府和央行採取刺激措施打擊經濟衰退後，比特幣也受益於風險較高的資產的胃口增加。

Yet for all the improvements, it remains highly volatile.

然而，儘管有了這些改進，但它仍然非常不穩定。

The sector is still opaque, trading data remains patchy and concerns over market manipulation are rife.

該行業仍不透明，交易數據仍不完整，對市場操縱的擔憂不絕於耳。

2020 could just be another Bitcoin bubble waiting to pop.

2020年可能只是另一個等待破滅的比特幣保麗龍。