Here's may be the cause of Bitcoin spike

Where's the demand originating from? May be China. Chinese stocks are down around 8% in the previous month. In the interim, worldwide stocks have been bid (German stocks +6%, U.S. stocks +7%). Also, gold is flat. In any case, security yields (as examined above) are down around 15 premise focuses (everywhere throughout the previous month)- - which implies request coming into the reserves of Treasurys (security costs up, yields, down).

With that, it would appear that Chinese cash is going into bitcoin, worldwide stocks and bonds. In any case, not gold. Keep in mind, the account of the last 2016 and mid 2017 period, out of China, has been the Chinese government's endeavors to limit residential capital from leaving China. It doesn't create the impression that they are winning.