Quote from: serjent05 on August 05, 2019, 03:39:33 PM

Quote from: Pipdips on August 05, 2019, 03:21:19 PM

It is all green candles. Up up up. Why? Is there any news to shed some light on this? The price will probably fall fast now. I think this green streak is not going to last for long.

I have read one article that may answer your question and here is some quote from that article:

Quote from: https://cointelegraph.com/news/current-bitcoin-price-rally-could-have-real-legs-novogratz

UPDATE: Bitcoin is performing as designed during times of global instability.

Quote

"The market response to the depreciation of the yuan and capital flight controls imposed on Chinese citizens really emphasizes the value proposition of Bitcoin and what an increase in demand can do to price when there is such a limited supply on offer to the market [...] Bitcoin could easily continue to surpass expectations for the remainder of 2

You can read the full story here : https://cointelegraph.com/news/current-bitcoin-price-rally-could-have-real-legs-novogratz

I agree with you. For me it's clearly the yuan devaluation that triggered the bull run.

"Another is the fall in the Chinese Yuan which has dumped below 7 against the dollar, its lowest level in a decade. According to a CNN report this morning, the Yuan weakened sharply after the Peoples Bank of China set its daily reference rate for the currency at 6.9225. The central bank cited trade protectionism and new tariffs on China as its reasoning for the slide."
"Bitcoin has had a monumental morning on the Asian trading session. "
https://bitcoinist.com/is-china-loading-up-on-bitcoin-as-yuan-gets-crushed/