3 replies to this topic

[Rogerdodger]

Bitcoin tops highest level in 3 years

 

The value of the digital currency topped $1,000 on Monday, its best level in at least three years.

"It was a perfect storm of events," said Charles Hayter, founder and CEO of digital currency comparison website CryptoCompare. "Uncertainty is key."

Hayter said the rise of populism globally means that "walls are going up rather than coming down," and people are seeing higher risks of trade wars and other fallout from the ratcheting up of tensions.

All this has led Bitcoin's value to more than double in the past year to $1,023, from around $430. Just since Trump's election, it has spiked 40%.

[AChartist]

from site fiatleak.com it is all china.

webbot got the idea it is the chinese gov (that really have no accountability what they

do with debt and fiat printing) the communist gov wants to distribute it to population

to buy popular sentiment, along with their silk road that will be build out quickly within the

year includes fiberoptics infrastructure to distribute internet into the countryside.

[Charvo]

Utilizing bitcoin as a way to get yuan out of the country is indicative of dire straits for China.  I imagine some folks have reached the $50k limit per individual, so they are circumventing the limit by buying bitcoin.  However, all these bitcoins purchased eventually will be converted to another currency which more than likely will be USD.  Bitcoin is more like a transit currency on the way to the final destination.  This mountain climb in bitcoin seems to be pretty steep, but it can be a dramatic fall when the time comes.

[12SPX]

Curious, could this be linked to that "Fed" coin thing someone posted a video about awhile ago do you think?