BernhardAnalytics
Short

a crazy idea, but it might happen

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
197 3 4
a crazy idea, but it might happen
what do you think the economics are of more monetary stimulus of the EUR and JPY are on the BTC and USD? Won't it make the latter two stronger? How will a tightening USD and easing of the EUR and JPY affect the BTC?
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mazer_rackham mazer_rackham
It seems to me the BTC has finally cleared the long wedge, and has now turned bullish (although a push back down to 260 to 250 in terms of BTC/USD (and as you are showing in your chart on the yuan as well) is probably likely in the short run). Once this short term bearish price action completes it seems to be a very bullish setup for the BTC long-term.
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It's completely not crazy... Bitcoin is purely driven by speculation, there is almost no demand for it still and it doesn't look like it will change any time soon.
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