Topic: Will China buying help the price to recover? - page 2. (Read 1195 times)
then if demand>supply the price will be rising immediately but I guess rich Chinese would prefer a currency that not so volatile so they would prefer dollar or Yen so they could save their wealth without worrying about the volatility instead of using bitcoin but even like that there's always still a minor rich people would trying to save up in form of bitcoin so I guess it would affect even a little
Why do you think the whole China will only look into buying bitcoin during Yuan's devaluation ? I would assume they would increase their holdings in other currencies, which are not as volatile as Bitcoin because they will obviously be investing a large amount of their money.
I agree that Bitcoin isn't at the top of the list of traditional investors when it comes to moving their wealth to another currency for example. But Chinese people do like challenges as their investment style can be seen as very risky, which to a certain extend can even be seen as gambling.
OP; It won't make people jump into Bitcoin, but I hope at least they have Bitcoin in their mind as a serious option. They don't have to put everything into Bitcoin, even 10% would be enough to give Bitcoin a massive rocket boost.
Why do you think the whole China will only look into buying bitcoin during Yuan's devaluation ? I would assume they would increase their holdings in other currencies, which are not as volatile as Bitcoin because they will obviously be investing a large amount of their money.
More Chinese investors might start to take bitcoin more seriously after the recent devaluation in the Yuan.
How will the bitcoin price react in regard to this?
How will the bitcoin price react in regard to this?
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