Bitcoin price falling off a cliff! hang on in there…. the truth will out!
A fall of this magnitude would indicate normally some major bad news somewhere in the pipeline but all indications are otherwise with nothing but positive news, which should in theory have drive prices higher this week. So on analysis the most likely cause is the big sell off in China with volumes spiking 8 hrs or so ago.
The big question what do they know that we do not?
We think its a simple arbitrage move you see Alibaba IPO is about to be priced today and the Chinese know its a sure fire bet to go up.
I think overall you have to understand that your average Chinese investor is not an investor but a gambler, the moment they see better odds there off. So me thinks that money is going to flow right back.Watch this space…
Conrad Reporting for Bitcoins Millionaire members