Post
Topic
Board Speculation
Re: Over 700$ in China now. The West is following soon.
by
talks_cheep
on 12/06/2016, 21:57:59 UTC
and who said that we rose because of chinese?

Very simple! The price of Bitcoin says so:

Huobi price: $713

Bitfinex price: $672


that is nothing, it just reflects the speculation level.
so, what does btc-e low price reflect?
if anything these prices reflect that chinese exchanges are more speculative, as mtgox price was higher than every other exchange for months before going tits up.

Denial is strong in Biodom. Weeks long, Chinese have been buying in massive scale. Western banks have been closing since 2008 and nobody gives shit. CNY has been slowly devaluing, Chinese are converting their money to dollars, gold and btc. That's what's driving the price rise.