Turco
Long

Is this what is happening with Bitcoin?

BITSTAMP:BTCUSD   Bitcoin / Dollar
a year ago
I suspect we are witnessing a massive inflow of South African Rand into Bitcoin , which becomes quite evident in the above chart. The Rand has already reached record lows against the US dollar             , and could show further weakness. Although I am expecting a pullback in BTC eventually, this bullish trend could continue for some time.

For further info watch the following CME             youtube report: https://www.youtube.com/watch?v=gOnTE3KsPkY

a year ago
Comment: One thing I forgot to mention yesterday, is that Sergey Mavrodi is based in South Africa. I suspect he is a big factor in this price move, and is hedging against the Rand.
I was looking for a strong fundamental for the rally. I think you nailed it. A big thumbs up!
Reply
Turco investigator
a year ago
Thank you sir, we will see. Good luck!
Reply
ChimbOt PRO
a year ago
Very interesting my friend
Reply
Turco ChimbOt
a year ago
Thx
Reply
nameisthedugan
a year ago
The theme is correct, to make this "evident" though specifically to the ZAR you'd need to show volumes from BitX or another South African exchange.

The currency you might want to consider as being more of a trigger is CNY.

Plenty of currencies to trigger bitcoin waves ahead.
+1 Reply
Turco nameisthedugan
a year ago
Hmm good point...not sure that data is available here on TV.
Reply
stantankeuros Turco
a year ago
Volume charts of localbitcoins could help point in the right direction. Sites like this are a main entry point for South Africans, BitX is still small and requires KYC.
https://coin.dance/charts/zar
Reply
Turco stantankeuros
a year ago
I know this is mere speculation and I could be dead wrong, but I still think MMM / Mavrodi is a big factor in this rise. In case you haven't seen this link, it is quite profound: http://pasteboard.co/2KMKzoZN.png .

For me to have written "I suspect we are witnessing a massive inflow of South African Rand into Bitcoin", may not have been completely accurate. Since Mavrodi is based in South Africa his MMM funds receive all types of currencies...CNY, ZAR etc. He may be using some sort of ZAR/BTC hedging algorithm, since the price of ZAR has to be important to him.

Some may consider this a far fetched theory, but the current inverse relationship presented in the chart is to hard to ignore in my opinion.
Reply
Turco Turco
a year ago
So the bottom line is, he may not have to be buying BTC with ZAR.
Reply
levrage
a year ago
Interesting article at ZeroHedge re: Yuan devaluation and capital controls:

http://www.zerohedge.com/news/2015-12-11/bitcoin-breaks-out-higher-after-china-announces-crackdown-unionpay-pos-devices
+1 Reply
Turco levrage
a year ago
Yea I read that.. interesting stuff.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out