What's going on with btc

Price has increased by over $200AUD in the past 2 days it seems. What events are going on to bounce it other then the supposed founder being raided?


Comments


[2 Points] FrozenMCVegetableCok:

Several contributing factors.

1) the true creator of bitcoin may have been outed this week, getting rid of some suspicion it was set up by a nefarious group and giving bitcoin a hint more legitimacy.

2) a bitcoin investment fund reported some substantial profits recently that coincided with several large investment banks issuing btc related prospectuses and information packets with an eye towards possibly investing on an institutional level as trying to get in on the btc payment infrastructure for retail businesses.

3) China keeps stashing more and more money into BTC because commodities are crashing in price and an even worse investment than btc for them right now.

4) The US government just froze the assets of a retired Yakuza boss who lives in Japan. He cooperated once with the FBI to get an unorthodox liver transplant without being on the waitlist for a donor. There may be fears he will cooperate again to get back some of his assets. His cooperation was what got him "retired" from the Yakuza ruling board. He remained too powerful to kill outright then but there was recently a split in the largest Yakuza family. The Yakuza could be trying to pull all the $$ they have in US jurisdictions that this guy could cause them to lose if he choses to side with the renegade family. The seizure happened last week, right before the latest surge in price.


[1 Points] aSchizophrenicCat:

China is back in the game. Feel like they're doing systematic pumps. All speculation though, no one really knows what's going on, that's the beauty of BTC. I've been buying bitcoin since it cost ~30 bucks.. Shit is unpredictable.


[1 Points] dontknow383:

I believe bitcoin is still undervalued.

$460 per coin x 15 million coins = $6.9 billion

Spotify = $8.5 billion

Western Union = $9.55 billion

Pintinterest = $10 billion

Snapchat = ~$16 billion

Facebook, Inc. = $288 billion

Apple Inc = $631 billion

All the Gold in the World = $8222 billion