Why was there a rumour that China would resume bitcoin trading soon?
http://sg-stock.blogspot.sg/2017/10/bitcoin-soars-to-all-time-high.html
The reason is simple: The Japanese investors are trying to cash out by making the bitcoin prices spike higher.
If you look at the historical events in bitcoin trading, you would realize that the USA started trading bitcoins at less than $1000. Thereafter, the Chinese traded bitcoins at $1000+ and cashed out at $4000+ because of China regulations. Then, Japan legalized bitcoin trading and the Japanese traded bitcoins at around $4000+. Therefore, the Japanese investors have to make the bitcoins trade higher so that they can cash out. This is akin to the passing of the baton game and the last guy who holds the baton will get the penalty.
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2 comments:
http://www.investopedia.com/news/delivering-alpha-jamie-dimon-calls-bitcoin-fraud/?partner=YahooSA&yptr=yahoo
Dimon called bitcoin a fraud previously. Now, he's saying bitcoin investors are stupid!
He is right because the last guy holding the baton is really stupid.
If bitcoin is not a fraud, it wouldn't have gone up like crazy.
China, South Korea and Russia are all against cryptocurrency and bitcoins still rise like crazy. This doesn't make sense at all.
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