China story was on ZeroHedge two days ago

dex1

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Quote from: Bitcoinpro on May 30, 2016, 11:27:10 AM

http://www.zerohedge.com/news/2016-05-28/bitcoin-soaring-unprecedented-burst-chinese-buying

Pickup in news stories 40 days out from the Halvening is a good sign,

I wrote about this two days ago in that thread giving the exact source of information.

You voiced your opinion then:

Quote from: Bitcoinpro on May 28, 2016, 11:51:55 PM

Quote from: dex1 on May 28, 2016, 04:36:25 PM

The reason behind sudden bitcoin price jump is enormous demand from China.
The Chinese have $30 trillions worth of deposits but they are afraid of devaluation of
their currency so they looking for ways to keep their savings secure.
source

Yes capital injection is coming from somewhere

also if more people are buying the exchanges will

like to raise the price Wink

No need to start new thread IMHO.

Chef Ramsay

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Quote from: The Sceptical Chymist on May 30, 2016, 12:00:20 PM

I agree, it's good news, but this is zerohedge we're talking about. It'd be much better if this was mainstream news who ran the story. No offense OP, but I have a very dim view of ZH's readership.

Many of their readership are gold bugs and the corresponding drop in the gold price w/ the opposite going on in Bitcoin could help some of the bugs to get in over here. Wishful thinking I know, considering the trollish outlook many gold bugs have for a crypto that most have little understanding of or are too antiquated in their thinking to grasp. However, in the end, the numbers don't lie.

Yogafan00000

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Yuan is currently devaluing. (exact reasons are debatable) Chinese aren't trying to move money out of the country. They are just trying to hold their wealth position. As soon as Yuan stabilizes, Chinese holders will sell BTC and get their newly revalued Yuan back.

The risk of holding BTC is lower than the risk of holding Yuan right now.

btcltccoins

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It looks like the Chinese have finally decided to conquer bitcoin. If Chinese depositors have decided to use bitcoin to get their funds out of the country then believe me Bitcoins price rise will not stop and it may reach $2000 even in a very small amount of time. Its confirmed that buy pressure is coming from china but the purpose of this buy will decide the future of bitcoins.

The Sceptical Chymist

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Top Crypto Casino

I agree, it's good news, but this is zerohedge we're talking about. It'd be much better if this was mainstream news who ran the story. No offense OP, but I have a very dim view of ZH's readership.

Jet Cash

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https://JetCash.com

If it was just to move funds out of the country, then there would be a corresponding sale, which would keep the exchange rate stable. If the price is increasing, then Bitcoin must be being bought for investment imho.

Bitcoinpro

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http://www.zerohedge.com/news/2016-05-28/bitcoin-soaring-unprecedented-burst-chinese-buying

Pickup in news stories 40 days out from the Halvening is a good sign,

Topic: China story was on ZeroHedge two days ago (Read 525 times)