Re: China Has Something to Do with Bitcoin's Price Increase After All

Quote from: cryptozink on October 28, 2019, 03:06:08 AM

Chinas state-controlled television station, CCTV.com, recently hosted a segment breaking down Bitcoin, according to a prominent trader that closely follows the regions cryptocurrency scene.

China's state controlled television explaining the basics of "first ever blockchain technology" #bitcoin $btc, and how a distributed ledger works

Imagine 1.3 billion people got to know bitcoin because state made an effort to explain how it works.

I thought that was a link to article/news regarding CCTV.com segment breaking down bitcoin, but apparently only you are promoting your website. Sighs
if there is any source to provide more info about it, maybe someone who lives in China.

Quote from: Oasisman on October 28, 2019, 03:55:45 AM

It's always gonna be better if there's a link provided to validate this claim about China's involvement in the recent price pump. If this news is true, I still dont see any relevance from this news to the price. Not unless, Chinese government will remove the restrictions and bans against bitcoin and other Cryptocurrency, including exchanges. That way people could easily accumulate Bitcoin without being bothered against the authorities, thus, this will surely will make a positive impact in the market due to massive buy out.

Agreed, I don't think China announcement will adopt blockchain has something to do with recent pump, they didn't say anything about bitcoin, but Xi Jinping mentioned how blockchain can be useful in many aspects to develop economics.

Quote from: cryptozink on October 28, 2019, 04:27:08 AM

Read about China's president Xi Jinping announcement yesterday. https://www.cryptozink.io/real-reason-why-bitcoin-price-shot-up-today-china-crypto-news/. I originally wrote that his announcement had nothing to do with the sudden price pump, but I have taken that back.....it has everything to do with it.

Everything to do with it?
Basically you said, Chinese and people around the world were flocking to buy bitcoin because of that announcement?

I prefer this one more than China reasons;

"crypto analytics provide, Eskew uncovered that some investors were shorting their positions by $150 million worth. The $150m were liquidated from Seychelles-based crypto exchange, BitMEX.
The short sales triggered what is called a short squeeze. A short squeeze can increase the value of an asset rapidly when sellers attempt to cover their positions. This result in temporary increase of prices due to increased buying volume."