[2016-05-31] Bitcoin Price Soars as Chinese Investors Look for Safe Haven

[LiteCoinGuy]

Bitcoin Price Soars as Chinese Investors Look for Safe Haven From Devaluation and Capital Controls

Many have speculated that the recent increase in the price of bitcoin ($542 USD on Bitfinex at time of publication) can be traced to China, where Bitcoin trading has doubled on some exchanges in the last four days as Chinese investors respond to a recent currency devaluation, and look for ways to avoid the government’s stringent capital controls.

https://bitcoinmagazine.com/articles/bitcoin-price-soars-as-chinese-investors-look-for-safe-haven-from-devaluation-and-capital-controls-1464703000

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[richardsNY]

Only time will tell whether or not the recent price increase has something to do with Chinese investors looking for other ways of storing wealth etc. I personally think it's more like the Chinese pumpers have shown what they are capable of in the runup to the block halving.