Forbes Magazine Claims China is Buying Up Bitcoin - WRONG FORBES MAG - [bitcoin] [crypto-news]
Fiat Leaks into Bitcoin
I just read this story by Jeff Kauflin on Forbes.com Fear Drives the Chinese to Buy Bitcoin.
I think that yes the Chinese are buying Bitcoin, especially due to these recent events with the US trade war situation and tariffs. This of course hurts the stock markets the World over but of course the US and the Chinese the hardest. They have the most to lose should this trade war continue to escalate. It could possibly send the World into a Global slowdown and at worse a Recession.
The title of the story makes it seem as though it is the Chinese leading the charge behind this new Bitcoin Bull Run. I disagree with Jeff's story. Looking at an older site that shows you where Bitcoin is being purchased throughout the World, it clearly shows the bulk of Bitcoin Purchases are currently coming out of the United States. The website is called Fiat Leak, which is where the graphic comes from for this post, and if you go there now, you will see where in the World Bitcoin is flowing Live.
So yes the Chinese are buying Bitcoin, but Wrong because it is not they who are BUYING up Bitcoin, that now seems to be the United States. It probably has to do with Fidelity getting ready to open up buying of Bitcoin to its clients with some $7 Trillion Dollars in holdings. Also TDameritrade and Etrade are supposed to be following in the footsteps of Fidelity while rumors are that Bank of America is starting to train employees on crypto-currency. Max Keiser could be right when he says that The Federal Reserve is self destroying fiat, and will eventually drive the price of Bitcoin to $100,000.
If this happens, and Steem follows Bitcoin up like last time, that puts Steem at around $40, and I imagine with all the hype, it could put it well over $50 per Steem.
But that now is pure hopes and dreams!!
+++ @streetstyle
Oh man, I live with the faith that those pure hopes and dreams about a $50 Steem will become reality one day.And I am sure they will.
We just need to be patient and believe in Steem for the long-term.
Not so long-term actually, the market cap and volume are getting bigger day by day.
Cheers bro.
There is always a rumour that bank is dealing with btc for fiat exchanges, when price of btc hipe previously then same rumour running over the market. People's are trying to buy btc as much as they can, thus price is pumping up!
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Once upon a time chaina is leading the production and exchange of btc, but after banned the crypto it falls down but quickly recover and halfway to the moon, this is part 2 for going to moon!
There are so many factors out there that is pushing BTC up with its price Sir @streetstyle, one is the impending war with Iran by the USA government, in fact there are aircraft carriers near Iran now. Rich people and institutions are hedging on BTC for the fear of their money losing its value for one reason.
I can't believe that steem would go as high as 40-50 dollars but if it does I'de be crying.
Hope everyone hold his price value of alt coin, specially the price of steem you have mentioned that means game is on for steemians!
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Buenas noches amigo @streetstyle deseo que se encuentre bien al igual que su familia amigo.dios quiera de que Steem siga a Bitcoin como la última vez amigo . Que tenga un exelente dormir amigo.
I think bitcoin is too big for only Chinese to influence the bull run. That us not true
Forbs may be try to transfer liability to china for recent rumour of btc price but most of the transaction maiden over Europe and usa!
I always believe that steem will reach around $ 40 or $ 50 per Steem. I am very sure about this. and if that doesn't happen, it looks like I will cry because I'm happy. that's what I have been waiting for the most.
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