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Bitcoin Soars On Its Eighth Birthday

Discussion in 'Digital Currencies' started by searcher, Nov 2, 2016.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Bitcoin Soars on Its Eighth Birthday
    By: Jeff Berwick
    Part of the reason why bitcoin has seen such a price resurgence is because of the increased demand for the currency in the Chinese market. You would think that the Chinese economy would be doing well after the Yuan’s SDR basket inclusion, but in spite of that, it continues to depreciate – hitting a 6-year low in October in conjunction with an estimated total of over $573.2 billion in Chinese capital outflows so far this year.
     
  2. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Now it hit $742, It was around $600 a month ago.
     
  3. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    If I was in Venezuela I would own some.
     
  4. Nomis Elpmis

    Nomis Elpmis Silver Member Silver Miner

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    The Chinese like the number 8.

    "For Chinese the number 8 is considered lucky just like the number 7 is considered lucky in the West. ... The main reason has to do with the pronunciation of the word for the number 8 in China. It is pronounced 'ba' and sounds like the word for prosperity which is pronounced 'fa'."
     

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