JohnKicklighter
Long

Greece Capital Controls Buoy Bitcoin

BITSTAMP:BTCUSD   Bitcoin / Dollar
350 4 5
A bid is forming under bitcoin             as Greece keeps capital controls in place. Not as much foreign wealth in Greece as there was in Cyprus - which necessitated a vehicle to move capital out especially as foreign accounts faced large taxes - but this development comes after the cryptocurrency has further matured.
So is this chart just fundamental information/reasoning for taking this position?

I see nothing technical regarding your decision-making process.
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JohnKicklighter PRO InfiniteTrader
This isn't a trade I'm looking to do. I don't trade Bitcoin. It is a good measure of the need to move funds when there are boundaries (like capital controls). People used Bitcoin extensively during the Cyprus capital controls, so I'm keeping an eye on this to see if it is happening again but this time with Greece. So far, still tame.
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Greeks - Burned by the Euro then next by Bitcoin. ;-)
+3 Reply
Thank You
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