According to a renowned Economist and Trader, Alex Kruger, there is reason to believe that the Chinese people would have probably been involved in the May crypto bull run that has seen Bitcoin rising to 60% of its previous value.
He reveals that there has been much talk about China as the main driver behind Bitcoin’s move up since the first week of May prompting him to research if there was an increase in interest on Bitcoin during the said time.
Apparently there is a strong correlation between the price movement of Bitcoin and the Bitcoin trending measured by Baidu Trend, the equivalent of Google trend in China.
This revelation is supported by reports that Chinese investors have been looking to offset fears of crumbling Yuan as a result to the U.S./China trade war by converting local currency to USD or Bitcoin.
It must be noted that searches on “Buy bitcoin” have fallen since May 31 might be a signal of the end of a short lived resurgence on Bitcoin enthusiasm.
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Headlines for the world of Cryptocurrencies - June 03, 2019
- Facebook Talking With CFTC
- Binance DEX To Geoblock Some Markets
- A Bar In Japan Will Soon Test Bitcoin’s Lightning Network For Payments
- 8 New Crypto Exchanges In Mexico
- BitMex Invest On A Philippine Central Bank Licensed Cryptocurrency Exchange
Headlines for the world of Cryptocurrencies - June 02, 2019
- Egypt Will Now Allow Cryptocurrency Activities In The Country
- Bullish Momentum Seen Pushing Ripple's XRP Prices Higher
- Erlay To Provide Stronger And Faster Bitcoin Network
- Japan May Seek Lenient KYC Requirements For Crypto In G20 Summit
- Coinfloor Helping Crypto Firms Access Banking
Headlines for the world of Cryptocurrencies - June 01, 2019
- G20 To Implement Unified Crypto Standards
- British University Using Blockchain On National Archives
- CNBC Has Gone Crypto Crazy
- Barclays Invest In Blockchain Business Payment Startup
- P2P Trading On LocalBitcoins Hit All-Time-High In South Korea
