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Title: [2016-05-28] cointelegraph.com | Bitcoin Price Passes $500, Highest Price in Post by: eye4bd on May 28, 2016, 05:24:45 PM Bitcoin Price Passes $500, Highest Price in Almost Two Years
For the first time since 2014, the price of Bitcoin passed $500 USD early Saturday morning... http://cointelegraph.com/news/bitcoin-price-passes-500-highest-price-in-almost-two-years Title: Re: [2016-05-28] cointelegraph.com | Bitcoin Price Passes $500, Highest Price in Post by: Kprawn on May 28, 2016, 09:12:54 PM It makes you think this Eth pump came just at the right time.... everything play out like a story.... the Eth dumper are coming back to Bitcoin and the miners follow the profits. ::) ... I wonder what
had the biggest influence... The Eth pump n dump actions or the things happening in China. We will see the price going up even higher, once we get closer to the Halving event next month. I am just glad, we recovered from the drop and we are once again trading above $500. ;D ;D ;D Title: Re: [2016-05-28] cointelegraph.com | Bitcoin Price Passes $500, Highest Price in Post by: Hazir on May 29, 2016, 12:13:39 AM "The price surge may be a result of many seeking to move capital out of China as the yuan weakens, continuing to fall against the dollar over the past month.
Yuan markets made up for 94% of the exchange volume distribution over the last 30 days." If this theory is correct. And I think it is the most sensible story behind bitcoin price rise. We might have sudden drop of BTC price after people successfully transfer money out of China. :/ Title: Re: [2016-05-28] cointelegraph.com | Bitcoin Price Passes $500, Highest Price in Post by: BellaBitBit on May 29, 2016, 03:21:48 AM "The price surge may be a result of many seeking to move capital out of China as the yuan weakens, continuing to fall against the dollar over the past month. Yuan markets made up for 94% of the exchange volume distribution over the last 30 days." If this theory is correct. And I think it is the most sensible story behind bitcoin price rise. We might have sudden drop of BTC price after people successfully transfer money out of China. :/ I agree, it seems most logical explanation for freak rise. Read an article that they may be slowing their purchases of US real estate as some areas are experiencing a correction and are overbuilt. |