And to the moon we go.....
Tyler Durden, the pseudonymous Zero Hedge author, has offered a belief that the fear of capital controls in China could push bitcoin into a bubble like never seen before.
“If a few hundred million Chinese decide that the time has come to use bitcoin as the capital controls bypassing currency of choice, and decide to invest even a tiny fraction of the $22 trillion in Chinese deposits … in bitcoin (whose total market cap at last check was just over $3 billion), sit back and watch as we witness of the second coming of bitcoin, one which could make the previous all-time highs in the digital currency, seems [sic] like a low print.”
One only have to look at how the Chinese markets went to the moon during this year to understand the effect it can have on bitcoin should the above play out. Yes the markets did tumble, recover, tumble etc.. but its clear what effect a couple of million chinese people can have on a market so its more than possible that the largest push might just come from the east.
Better get stocked up on bitcoin sooner than later. I don't think we have that much time left before we start heading back to the 4 digit prices for bitcoin.
