{"id":16,"date":"2016-05-30T22:13:00","date_gmt":"2016-05-30T22:13:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/bitcoin-rise-driven-by-chinese-domain\/"},"modified":"2023-01-10T01:48:07","modified_gmt":"2023-01-09T23:48:07","slug":"bitcoin-rise-driven-by-chinese-domain","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/05\/bitcoin-rise-driven-by-chinese-domain.html","title":{"rendered":"Bitcoin rise driven by Chinese domain"},"content":{"rendered":"<div style=\"text-align: justify;\">\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"https:\/\/3.bp.blogspot.com\/-3k0dhuBotw8\/V0y6CQX5i_I\/AAAAAAAAAfc\/6kiVcLVLUhw2SBNy2IyU2lk56yUM0ImRwCLcB\/s1600\/Untitled%2Bdesign.png\"><img loading=\"lazy\" decoding=\"async\" title=\"chinesebitcoindomain.jpeg\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/05\/Untitleddesign.png\" alt=\"&lt;img src=&quot;\/images\/china.jpg&quot; alt=&quot;chinesebitcoindomain&quot; height=&quot;264&quot; width=&quot;350&quot; \/&gt;\" width=\"400\" height=\"200\" border=\"0\" \/><\/a><\/div>\n<p>&nbsp;<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">On September 2015 when the bitcoin price was about $230<b> China<\/b> figured out that Bitcoin could increase its popularity specially when the freeflow of capital out of China is growing fast and when gold is stored in China but it is impossible to take it out of the Chinese country.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">And, in fact, some days ago the Bitcoin domain increased exponentially in China.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">It is not clear if it happened because of the fear about a devaluation after Friday\u2019s US Dollar move, or because the Chinese $30 trillion economy found a way to take it out of China.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">However, Bitcoin finally has broken its long-term resistance, and right now its price is about $530 according to <a href=\"https:\/\/www.bitstamp.net\/\">BitStamp<\/a>.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">This is the Bitcoin highest price since summer 2014.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<h3 style=\"text-align: justify;\">Why is this happening?<\/h3>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">It seems somenthing happened in China as the Bitcoin price in CNY on<a href=\"https:\/\/bitcoinwisdom.com\/markets\/huobi\/btccny\"> the local Chinese exchange<\/a>\u00a0rose as much as the equivalent of $580, much higher than the current US price of about $520.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">This might indicate stronger Chinese demand for the digital currency.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">So, maybe China starts to be conscious about bitcoin, as we could expect in September, when the bitcoin price was 50% lower than now.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The current bitcoin price is about 25% higher in the past days, and analysts expects it will keep growing in the next few days.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">China, in fact, has $30 trillion in deposits &#8211; which concerns about devaluations will make very &#8220;flighty&#8221; while the market cap of bitcoin is under $8 billion.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">If Chinese depositors have finally figured out to use bitcoin to get their funds out of the country, we need to watch out BTC shorts.<\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>&nbsp; On September 2015 when the bitcoin price was about $230 China figured out that Bitcoin could increase its popularity specially when the freeflow of capital out of China is growing fast and when gold is stored in China but it is impossible to take it out of the Chinese country. And, in fact, some [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,84,96,153],"tags":[764,773,786,840],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin rise driven by Chinese domain -<\/title>\n<meta name=\"description\" content=\"Discover how China is using Bitcoin to increase its popularity, especially with the growing freeflow of capital out of the country.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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