Chinese factors behind the 14 billion marketcap of Bitcoin

[hl5460]

The $14 billion marketcap of Bitcoin is a good story for mainstream media. And the Chinese media did release stories as expected. But is the market really driven by Chinese capital market demand or it is just another bubble? You will see the real driving force at the end of this story.

http://news.8btc.com/chinese-factors-behind-the-14-billion-marketcap-of-bitcoin

[newIndia]

You will see the real driving force at the end of this story.

End of the story states that...

Pyramid Schemes

So where is money comes from? A latest topic on 8btc may tell the truth:

The thread claims that the MMM are the key forces for driving the price up

So, do u mean, Bitcoin has reached 900 USD because of MMM?

[CoinLearn]

Your images are broken. For example...



i.e. http://news.8btc.com/wp-content/uploads/2016/12/145229znhjdnnydo7ibr7y.jpg

[hl5460]

You will see the real driving force at the end of this story.

End of the story states that...

Pyramid Schemes

So where is money comes from? A latest topic on 8btc may tell the truth:

The thread claims that the MMM are the key forces for driving the price up

So, do u mean, Bitcoin has reached 900 USD because of MMM?

Apparently the general public still hates bitcoin.

[crazyivan]

Do you people think this ll continue going up? Does BTC s got any potential to reach $1k?

[Tanic]

I don't think it's bubble. From the most beginning Chinese pay more attention to bitcoin that in remain world. And bitcoin developed there faster. I think they have their special culture about it and it's just can not be a fail.

[hl5460]

Your images are broken. For example...



i.e. http://news.8btc.com/wp-content/uploads/2016/12/145229znhjdnnydo7ibr7y.jpg

That's the source of the pic
3M才是本次行情的幕后推动，币圈不要YY了
http://8btc.com/thread-44018-1-1.html

[hl5460]

Do you people think this ll continue going up? Does BTC s got any potential to reach $1k?

Likely, but 6400 is already a record high.

[pedrog]

You will see the real driving force at the end of this story.

End of the story states that...

Pyramid Schemes

So where is money comes from? A latest topic on 8btc may tell the truth:

The thread claims that the MMM are the key forces for driving the price up

So, do u mean, Bitcoin has reached 900 USD because of MMM?

Latest surge in litecoin price where litecoin went up to $8 was because of some pyramid scheme in China, I wouldn't be surprised if something similar is helping bitcoin price right now.

[ljudotina]

So price is going up because ppl that are organizing pyramid schemes are using it? Cmon now...how large should those be to be main driving force?

[raja2sumi]

i think it will still go up until the first of january and it will reach it 1000 k dollars in no time .and i think the market of bitcoins is growing day by  day. and it will be the currency of china.

[LFC_Bitcoin]

I hope it's not a bubble, I've sold a few coins in this run but I am HODLING the majority of my stash for the long term. It'd be deflating to see us reach $1000+ only for the price to plummet several hundred dollars after.

[robelneo]

I hope it's not a bubble, I've sold a few coins in this run but I am HODLING the majority of my stash for the long term. It'd be deflating to see us reach $1000+ only for the price to plummet several hundred dollars after.

I'm also hoping it's not a bubble either,some of the comments from this events dwells in the negative,like

It’s the Chinese that pump the price. Part of real estate funds are injected into Bitcoin and another function of bitcoin is to transfer money. Bitcoin is perfect for money laundering.

.

I want Bitcoin price to rise naturally not because Chinese are pumping it,it could give bitcoin a bad impression,let's see what will happen in the coming weeks.

[Genamant]

Do you people think this ll continue going up? Does BTC s got any potential to reach $1k?

It can reach $1000, but it will take several months.

[szpalata]

Do you people think this ll continue going up? Does BTC s got any potential to reach $1k?

It can reach $1000, but it will take several months.

I think it can get to even 2000$ by the end of 2017

[hl5460]

You will see the real driving force at the end of this story.

End of the story states that...

Pyramid Schemes

So where is money comes from? A latest topic on 8btc may tell the truth:

The thread claims that the MMM are the key forces for driving the price up

So, do u mean, Bitcoin has reached 900 USD because of MMM?

Latest surge in litecoin price where litecoin went up to $8 was because of some pyramid scheme in China, I wouldn't be surprised if something similar is helping bitcoin price right now.

Very observant of you. But litecoin rise has been weiredly predicted by some threads on 8btc.

与其追涨比特币，不如加仓莱特币
http://8btc.com/thread-43937-1-1.html
(出处: 巴比特论坛)

[The Sceptical Chymist]

Do you people think this ll continue going up? Does BTC s got any potential to reach $1k?

Hell yes it's got that potential and more.  Look where we're at ($900).  It's not going to take much more positive sentiment to drive us above 1K and beyond.  Of course I say this with absolutely no evidence, but I think the momentum speaks, loudly, for itself.  And if China is behind it, so be it.  Everybody needs to pile in like one of those clown cars.

[Deja]

It is not just another bubble, the Bitcoin price is very, very undervalued, and what we are seeing is just the pressure getting out, I do believe a strong manipulation was needed to keep the price below current.. not otherwise.

China can may have around 2 million bitcoins now..more countries will follow..

[CoinCidental]

I hope it's not a bubble, I've sold a few coins in this run but I am HODLING the majority of my stash for the long term. It'd be deflating to see us reach $1000+ only for the price to plummet several hundred dollars after.

Don't worry, if the price dips there is enough hungry hounds to buy it straight back up again....
Exponentially larger market for btc now than back in 2013

[pooya87]

You will see the real driving force at the end of this story.

End of the story states that...

Pyramid Schemes

So where is money comes from? A latest topic on 8btc may tell the truth:

The thread claims that the MMM are the key forces for driving the price up

So, do u mean, Bitcoin has reached 900 USD because of MMM?

Latest surge in litecoin price where litecoin went up to $8 was because of some pyramid scheme in China, I wouldn't be surprised if something similar is helping bitcoin price right now.

don't compare litecoin with bitcoin. litecoin daily trading volume is not at all comparable with bitcoin. and since the price is that much lower and market smaller, it can be manipulated so much easier. and the rise was full pump and doing the same thing in bitcoin takes a lot more than that.