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Author Topic: [2016-06-11] Zerohedge.com | Bitcoin Spikes Above $600 - 2 Year Highs - On  (Read 427 times)
eye4bd
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June 12, 2016, 07:31:06 AM
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Bitcoin Spikes Above $600 - 2 Year Highs - On Sudden Massive Chinese Buying

Once again, on a Saturday night (US time), Sunday morning (China) a sudden burst of buying pressure in Bitcoin, driven by Chinese buyers, has spiked the virtual currency higher on dramatic volume. With Bitcoin now trading at its highest level since May 2014 (in Yuan), and up 250% since we first suggested this an outlet for desperate-to-leave capital outflows in September, we note that the 'arbitrage' of over 150 Yuan points to massively more demand from Chinese buyers for now....

http://www.zerohedge.com/news/2016-06-11/bitcoin-spikes-above-600-2-year-highs-sudden-massive-chinese-buying

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June 12, 2016, 07:53:30 AM
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Bitcoin Spikes Above $600 - 2 Year Highs - On Sudden Massive Chinese Buying

Once again, on a Saturday night (US time), Sunday morning (China) a sudden burst of buying pressure in Bitcoin, driven by Chinese buyers, has spiked the virtual currency higher on dramatic volume. With Bitcoin now trading at its highest level since May 2014 (in Yuan), and up 250% since we first suggested this an outlet for desperate-to-leave capital outflows in September, we note that the 'arbitrage' of over 150 Yuan points to massively more demand from Chinese buyers for now....

http://www.zerohedge.com/news/2016-06-11/bitcoin-spikes-above-600-2-year-highs-sudden-massive-chinese-buying

Nowadays, China seems to be the cause for everything.  Grin
I would have thought the block reward halving would have provided a higher impetus than China.
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June 12, 2016, 07:53:47 AM
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"It appears, just as we initailly warned here, that more than a few of the few hundred million Chinese have decided that the time has come to use bitcoin as the capital controls bypassing currency of choice, and decided to invest even a tiny fraction of the $22 trillion in Chinese deposits"

If the 1.3 billion Chinese use the bitcoin, it is a big boost.
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June 12, 2016, 10:01:38 AM
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"It appears, just as we initailly warned here, that more than a few of the few hundred million Chinese have decided that the time has come to use bitcoin as the capital controls bypassing currency of choice, and decided to invest even a tiny fraction of the $22 trillion in Chinese deposits"

If the 1.3 billion Chinese use the bitcoin, it is a big boost.

Even if 1-5% of them push at least 10% of their money into Bitcoin, then we'll reach ATH after ATH. I think it's just a matter of time before more people around the world will buy themselves a good position in Bitcoin to avoid their annoying and thief government.

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June 12, 2016, 12:05:23 PM
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people who speculate that 2016 will be a great year for bitcoin were right. although the price did not reach $1000+ like they said , but maybe it will before the end of the year
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June 12, 2016, 01:54:28 PM
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people who speculate that 2016 will be a great year for bitcoin were right. although the price did not reach $1000+ like they said , but maybe it will before the end of the year
Wait for it. We are not even halfway through. Halving is still upon us. I suspected earlier that we won't see this huge price spike until some time after having but I was wrong.
This is the beginning and we might see new ATH this year. Buy, buy, buy.


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