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Topic: What is behind the recent growth in price? (Read 1865 times)

sr. member
Activity: 280
Merit: 250
November 14, 2013, 10:19:16 AM
#21
More people getting into Bitcoin + more people looking to buy bitcoins = a rise in price

I really think it's as simple as that.
FNG
hero member
Activity: 588
Merit: 500
November 14, 2013, 10:09:05 AM
#20
legendary
Activity: 1526
Merit: 1002
Bulletproof VPS/VPN/Email @ BadAss.Sx
legendary
Activity: 1036
Merit: 1000
November 14, 2013, 07:25:29 AM
#18
No one mentioned the BIT?!
full member
Activity: 182
Merit: 106
November 14, 2013, 03:36:38 AM
#17
Yea well, they can't manipulate Bitcoin like they can their currency, so they'll be in for a rude awakening once they experience a free market absent their overbearing central planners. And yea, that includes the obligatory bubble greeting for most new comers to the Bitcoin economy. Smiley
sr. member
Activity: 434
Merit: 250
November 14, 2013, 03:29:54 AM
#16
there are 2 reasons why i think china is bullish on BTC. i am sure there are more, so someone else chime in.

1) china is the largest foreign holder of american paper notes. china holds $1.2 trillion dollars.. and the U.S. is printing unprecedented amounts of cash.. they don't want their holdings to be diluted. they also buy lots of gold for the same reason... and i think there's something about asian culture that loves gold.
2) they are the up and coming economy, and the nation as a whole is just.. hungry. and willing to take big risks for the sake of big rewards.
legendary
Activity: 1946
Merit: 1006
Bitcoin / Crypto mining Hardware.
November 14, 2013, 02:47:21 AM
#15
When will Africa, India start catching up?
It's a shame that India is way behind esp. in mining and adoption.
legendary
Activity: 1946
Merit: 1006
Bitcoin / Crypto mining Hardware.
November 14, 2013, 02:45:41 AM
#14
Go to a casino and watch a chinese bet... there you go.
youtube video for demonstration?
legendary
Activity: 1218
Merit: 1003
November 14, 2013, 02:12:39 AM
#13
I think the shutting down of silk road and increase in high wealth individuals investing are the main reasons.
sr. member
Activity: 363
Merit: 250
November 14, 2013, 01:53:46 AM
#12
Thanks I was lazy.
full member
Activity: 182
Merit: 106
November 14, 2013, 01:49:00 AM
#11
I am a long term bull and I'm pleased to see the recent price increases, but I must confess I am puzzled by the pace of the recent price escalation. I have been a little busy and didn't have time to read up on everything I've missed - but perhaps someone can summarize things for me - what are the (perceived) reasons behind the growth in the past 2 weeks? Voodoo chartists please stay away. Smiley Thanks.

Panic/Greed/Speculation
Fixed that for ya Cheesy
sr. member
Activity: 363
Merit: 250
November 14, 2013, 01:46:23 AM
#10
I am a long term bull and I'm pleased to see the recent price increases, but I must confess I am puzzled by the pace of the recent price escalation. I have been a little busy and didn't have time to read up on everything I've missed - but perhaps someone can summarize things for me - what are the (perceived) reasons behind the growth in the past 2 weeks? Voodoo chartists please stay away. Smiley Thanks.

Greed/Panic/Speculation.
full member
Activity: 182
Merit: 106
November 14, 2013, 01:38:02 AM
#9
Many wealthy Chinese are also nervous about their government's policy.  Bitcoin is a wonderful way of hiding your assets from a government.
Like you can hide anything from the Chinese govt for any meaningful amount of time. :\
full member
Activity: 188
Merit: 102
November 14, 2013, 01:11:40 AM
#8
I am a long term bull and I'm pleased to see the recent price increases, but I must confess I am puzzled by the pace of the recent price escalation. I have been a little busy and didn't have time to read up on everything I've missed - but perhaps someone can summarize things for me - what are the (perceived) reasons behind the growth in the past 2 weeks? Voodoo chartists please stay away. Smiley Thanks.
Digital gold, baby!
member
Activity: 112
Merit: 10
November 14, 2013, 12:45:00 AM
#7
Go to a casino and watch a chinese bet... there you go.
legendary
Activity: 1414
Merit: 1000
HODL OR DIE
November 14, 2013, 12:34:44 AM
#6
Many wealthy Chinese are also nervous about their government's policy.  Bitcoin is a wonderful way of hiding your assets from a government.
full member
Activity: 154
Merit: 100
November 13, 2013, 11:59:32 PM
#4
Re China - why now?
hero member
Activity: 732
Merit: 500
Nosce te Ipsum
November 13, 2013, 11:57:19 PM
#3
China, greed, low volume!  Smiley
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
November 13, 2013, 11:56:37 PM
#2
mainly its china, they are literally sucking up all the bitcoins, supply is starting to run dry in the west, and the chinese are still nowhere near satisfied.
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