![]() Now that Bitcoin has reached its first goal of the New Year, the community can focus on Bitcoin eclipsing the value of Gold, which is currently trading at about $1150 USD. I expect this run to last all week, if not all month, particularly in China, where regulations and Bitcoin’s increasing value in a declining market are spurring demand. Monday is going to be an observed holiday for many, but Tuesday can be more a huge day, much more lucrative than a $35 push on a Sunday holiday, with all bankers open for a full business day. Hell, Sunday wasn’t even a business day and Bitcoin gained over 3%. In my opinion, there is little to stop this run from continuing. Bring it on 2017 □ĭecember has been our best month yet since launch. Gox bubble of 2013, this current “Bull run” is not built on the events of one centralized Bitcoin exchange, but demand at several exchanges both inside and outside of China.Īnother monthly record for More transaction volume this December than 2014 & 2015 combined. It was clear that there were many, many investors in China, and around the world, who were waiting for New Year’s Day to go on a Bitcoin buying spree. ![]() In the new year, the new foreign-exchange purchase quota starts, so we expect yuan positions in January to drop significantly. Liu Dongliang, an analyst at China Merchants Bank Co., noted earlier this month, ![]()
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