Bitcoin Blog a1

Saturday, August 6, 2016

Possible Price explanation

As you may know, bitcoin news has been in abundance the past weeks, from the halving event to a bitcoin ETF possibly getting sec approval.

In addition, Brexit has brought into question a once safe haven currency, and possibly affected the safe haven status of the euro. After all, what might happen to the euro if Francexit and all the other new -exits, happen?

All of these events seem to be playing a role in the price of bitcoin. In addition, many bitcoiners say that Chinese investors are another driving factor of price. The Chinese government manipulates the price of the Yuan to help maximize their exports. A cheaper Yuan means more demand for Chinese goods. At the same time, this means that everyday people in China have lost value as the currency they hold is worth less than it was before.

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