Post
Topic
Board Speculation
Re: Why the Ukrainian crisis is bullish for BTC
by
MatTheCat
on 04/03/2014, 01:45:03 UTC
I doubt that todays pump had much to do with Ukraine.
There is a 1000€ per day bank withdrawal limit, but that's just to avoid bank runs. You can still exchange to other fiat or make international bank transfers. It wouldn't be exactly a smart choice to go from 1 fragile currency to another just as fragile or more.
My guess goes that it's some outsider investment group that decided to copy Fortress, so they made a high risk bet and bought a planned amount of coins. Todays rise was caused by one entity who was rather careless about buying coins. You could often see pumps like these during the China boom. Pumps that are ok with buying coins in a short period and creating a drastic rise. Buys like these are made by people who are not interesting in hanging around at the bitcoin market for a long time. They only come to buy a determined amount, that was agreed upon by the board of directors.

Well fingers crossed they are back tomorrow.