Rigid and sometimes insane currency policies in some countries might explain the big increase in bitcoin prices. The cost of one unit of the cryptocurrency has increased by $350.69 over the past year, according to Coinbase.
A bitcoin cost $229.91 on June 11, 2015 and $583.12 on June 8, 2016, according to the popular digital wallet. The big media has not noticed this surge yet, but it could be the start of a major change in the world's currency market.
Some observers, such as Zero Hedge's Tyler Durden, attribute the bull market to increased demand for bitcoin in China. Durden's thesis is that the People's Republic's efforts to enforce strict limits on the amount of money that can be transferred out of the country is fueling the increased demand for bitcoin.
http://seekingalpha.com/article/3981188-rigid-currency-policies-drive-bitcoin-prices-roof
Topic: [2016-06-10] Rigid Currency Policies Could Drive Bitcoin Prices Through The Roof (Read 337 times)
June 10, 2016, 03:48:23 AM
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