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Bitcoin Blooms with Chinese Buyers as Yuan Sinks

Fri Oct 14, 2016 5:26 am

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Bitcoin price has seen sailing good winds lately, spiking early on October 11 from recent averages of $610-$615 to $630. Prices have seen support since, with a high of $649 on the Bitstamp Price Index, a number that hasn’t been scaled since the end of July.

Bitcoin’s rise coincides with the continued fall of the Chinese fiat yuan, sinking to its lowest levels in six years this Monday.
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Re: Bitcoin Blooms with Chinese Buyers as Yuan Sinks

Sun Oct 30, 2016 10:28 am

Looks like it has popped the $700 mark comfortably now - I wonder if there will be a big or small correction, or it might just keep creeping up. The Chinese authorities must be relatively lenient on bitcoin trades right now if Chinese money is leaking into bitcoin.
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