Here's a little history I pulled up online trying to find the reason being this massive spike in value.
Hi guys. I hope things are going well in China and everywhere. Here's a short idea should a double top materialize. Thank you for taking a look.
trend seems to be slipping away on the weekly, and the monthly chart. just waiting for a breakout. looks very promising!
Just an expectations based on price trends.
There are links between bitcoin and Chinese capital outflows and the control thereof and currency relations / controls of Chinese currency. The relationship is highlighted with the comparison of the prices of BTCUSD (light blue area ) and USDCNH ( Dark blue line ). This is useful in helping to form an idea of which direction the BTC may take. Currently there is...
A chart tracking the correlation between 1/btccny and cnyusd. The theory is that since mid 2015, the devaluation of the yuan has been fueling the bitcoin bullmarket that emerged that year.
More trading less showing in 2017. 1Hr/4Hr trading are using EMA system from FXCM desktop and learning swing trading "Fractal Quad Components" pine program original source from Pythagoras.
China continues to drive Bitcoin higher as RSI enters mega rally territory on the Weekly. Time will tell how long this can hold.
I recently read an article of Reuters explaining that the recent rise in $BTCUSD has the $CNYUSD sell off to thank. www.reuters.com But out of curiosity, I wonder what percentage of the $BTCUSD rally was caused by Chinese traders buying into Bitcoin. After all, most Chinese DON'T invest their money into the market. Perhaps the $BTCUSD rally is caused by traders...