30 Oct '16, 2pm

Bitcoin Price On Path Of No Return, With Yuan, Hodling, Institualization Being Factors

Yes, the weakening yuan is responsible for the rise in the price of Bitcoin . But what about some other efforts that have been playing complementary roles to push the top digital currency's price to a level that is far higher than what we have experienced in previous years? And with the look of things, the reality is: these contributing factors are the mainstay of what is keeping the price of Bitcoin stable and unwilling to give in to any form of reversal. Bitcoin’s price has gone up $100 in a month from about $605 as at September, 30 to up to $705 by October 28 - as at the time of this publication - and there has been a growing volume of daily Bitcoin transactions. It may be too early to say, but the price of Bitcoin has been following a growing trend that have has difficulties in reversing back to its original lowest price of take-off. Some factors - such as the weakenin...

Full article: https://cointelegraph.com/news/bitcoin-price-on-path-of-n...

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