Price of Yuan continues the fall Bitcoin is on the rise.

CryptoGuru Level X³

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October 25, 2016, 11:01 am

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Price of Yuan continues the fall Bitcoin is on the rise.

This is a very exciting time for Bitcoin and everyone who is involved. From the possibility of scaling by the end of the year to the recent signs of progress in the price. Today the price is $658 in dollars. It actually broke the high and that is what i have been waiting for. One of two things can happen in the next 2 weeks. We will see an increase to the 800 range by second week of November or a drop back down to the 600 range. In my opinion a drop is very unlikely but it depends mostly on what happens in China.


The Yuan is still taking a fall yet Bitcoin price is climbing at the same time. What does this tell me exactly? The investors in the Bitcoin industry in China are starting to abandon The Yuan and they are buying BTC at a rapid rate. People don't realize that China accounts for almost 90% of the trading and 40% of the mining. The people in China see the value in Bitcoin i think its time the United States do the same. If you invested into Bitcoin when i first posted about it at 600 you have made almost 10% on your money in less than 6 weeks. What bank is don't those kinds of numbers? Some of you are in different countries what do banks give out for Interest? I would love to compare this to the numbers Bitcoin does and see what is more valuable to keep my savings in.

As always thank you for reading please don't forget to follow me.

https://listingdock.com/user/jkeyz2

https://www.seoclerks.com/user/jkeyz2

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Cristian

Price of Yuan is very important for the world finical stability, for it to fall too much in the following weeks would not be good, especially for Europe who is already in deep trouble and hanging by the edge of the cliff.

Bitcoin is up at 680 dollars at the moment, an incredible gain in the last few months, so you were very accurate on your predictions and I still didn't invest! Haha I wonder if I get into it now if I'll turn a profit around until spring?

0 8 years ago

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CryptoGuru

If you purchased 10 Bitcoin now by spring you will have 50% increase on your investment. When fiat money falls Bitcoin becomes more valuable. People see the value in Bitcoin and when they jump out of the Yuan of the dollar this is what causes this situation. The whole world is going digital we need Bitcoin to be the next world currency to acquire global wealth. I truly believe that in combination with a few alt currencies we could make a difference in the world and bridge the gap between the rich and the poor.

0 8 years ago

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Lynne

Cristian Jkeyz2 has been talking about Bitcoin for a long time and saying we need to invest in Bitcoin. So I started a virtual account on eToro to trade in Bitcoin. I just did a $50 test and I would have made $20 odd in the last week on my $50 investment... well if it was real money I would have LOL.

I just wanted to check it out virtually and then decide if I want to invest real money or not. So far it is looking quite good for Bitcoin!

0 8 years ago

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Cristian

Good idea! I might do the same, these post are very informative and I've learned a lot about bitcoin since Jkeyz started talking about this stuff.

0 8 years ago

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Corzhens

Pardon me but I am confused with the parallelism of the Bitcoin with the Yuan. Take note that the Yuan or Renminbi is a legitimate currency of the biggest economy in the world, that is China, of course. The value of the Yuan is dictated not only by the economy of China but there are other factors like the economic situation of the world in general and the state of trading with other countries. Ask an economist and you will hear a long list of factors. Anyway, if I may ask, what or who dictates the value of the Bitcoin?

0 6 years ago

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