Bitcoin has experienced an incredible journey the last couple of weeks. It started with a statement: “China’s State Press Calls for ‘Building a de-Americanized World’“, then the follow up by Baidu, the so called Google of China: “Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!“. After a few quiet days, the Bitcoin price suddenly shot to the roof leaving all other cryptocurrencies behind. “Btcn CNY hits the top of bitcoinwatch’s trade volume charts” explained the dramatic shift from the west to east as someone explained it: “China has woken up”.
We early saw the clear signs that Alt-Coins could be devalued real fast with the Bitcoin price roar and sent out our analysis to the members of Cryptocurrency Investment Club, and later posted our update here.
We have earlier explained our beliefs that “Bitcoin is stabilizing and could face a major downtrend – This could be the time to buy back into Alt-Coins“. We want to do another analysis to try and figure out what will happen with the Bitcoin price in the coming weeks.
Read our analysis here:
http://www.cryptocoinsnews.com/2013/10/24/bitcoin-analysis-coming-weeks/