CHINA THEORY: Did this cause the Bitcoin price explosion?
The dramatic escalation of the US-China trade war caused the recent Bitcoin price spike as Chinese wealth flooded into BTC as a ‘safe haven’, DigitalX CEO Leigh Travers says.
“Chinese and expatriate Chinese around the world are contributing to the recent rise in the price of Bitcoin. They are seeing Bitcoin as a hedge against the falling Yuan,” he explains.
“China has been one of the biggest leaders for Bitcoin price runs of this magnitude on almost on every other occasion in the past except Consensus 2017,” he says.
Digital Assets, Blockchain Consulting, xBullion, DX Americas, Bitcoin Fund - Main Discussion Thread, page-497
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