[2016-05-28] cointelegraph.com | Bitcoin Price Passes $500, Highest Price in

[eye4bd]

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

[Kprawn]

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. 

[Hazir]

"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. :/

[BellaBitBit]

"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.