on the other hand in Lebanon bitcoin has been trading at around...

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    on the other hand in Lebanon bitcoin has been trading at around 15k USD .With reports of people trading their gold for bitcoin as they cant get the gold out of the country .If true this is exactly what is meant when BTC is described as a safe haven. The lebanese crisis has been caused by the government close to defaulting on loans and banks limiting withdrawals .

    I tend to view The world Bitcoin market as both an almagamated market and a number of independent markets (each country) . The almagamated market is affected far more by traders than many of the national markets . The present lower price is caused by trader investors who have often bought on margin then sold as losses threatened .As often occurs in such cases it causes others to follow . Those who see BItcoin as insurance against a banking/political system that they do not trust tend to use these events to accumulate if it continues and if I have enough free fiat I will be doing so but I am not yet sure at what price .
 
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