27 May '16, 11am

Bitcoin Surges To 2016 Highs On Rising Chinese Demand; Decouples From Gold

Bitcoin Surges To 2016 Highs On Rising Chinese Demand; Decouples From Gold

that as a result of China's crackdown on capital controls, the one clear winner (in addition to Vancouver real estate) would be bitcoin, the digital currency has more than doubled in dollar terms, rising from $230 and surging as high as $500 a few months later. Overnight bitcoin, which had traded in a stable range with little of its characteristic volatility in recent months, made its latest breakout, surging nearly 5% from a $440-level, to a fresh 2016 high of $480, and has since retracted the move modestly, trading at $475 at last check.

Full article: http://www.zerohedge.com/news/2016-05-27/bitcoin-surges-2...

Tweets

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