Bitcoin Today 3 December 2016 – The Bitcoin price has just reached a two year high in China! Traded volume over October and November 2016 has been the highest ever. The Bitcoin price varies from country to country dependent on Geo Political influences. China has devalued the Yuan and the economy is under pressure. The government has imposed a new capital flight law and all mergers and acquisitions have to be approved by the government. The Chinese investors are looking to Bitcoin to be a hedge against the Yuan and this is driving the price and volume.
“It’s very exciting to see bitcoin’s current price rally,” said BTCC CEO Bobby Lee. “It’s about time! We’ve been seeing record trading volumes in China this quarter, as the devaluation of the renminbi continues. I think bitcoin’s price might surpass its 2013 all-time high, as soon as early 2017, reaching or surpassing $1,500. “Looking to the long term, I think bitcoin will reach several thousand U.S. dollars, and might even reach $10,000, before the next block-halving in 2020”
Bitcoin adoption is increasing daily as people start to realize the POWER OF BITCOIN!
What are your predictions?
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