Recent Yaun Depreciation good for Bitcoin price?

CryptoGuru Level X³

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October 11, 2016, 2:56 pm

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Recent Yaun Depreciation good for Bitcoin price?

Bitcoin is continuing its rise after the epic halving in July. Yesterday the price of Bitcoin was $971.00 today the price is $985.00. The recent rise in Bitcoin falls in line with the deprecation of the Yaun. The Yaun dropped to the lowest value it has ever been in the last 6 years early Monday morning. The other reason for the increase is we had a 2.7% increase in trading over the weekend. This height of trading is not normal in fact it has not been this high since July of 2016. Could this be the rally we have all been waiting for? If so you will see the price of Bitcoin go up to 800 range within the next few weeks. If you invested into Bitcoin from my first post when the price was 600 you are not up $45 + per coin you purchased. What do you think Bitcoin a good investment? I will keep you all updated soon i will mention when to cash your and what to d next with your investment.
As always thanks for reading Please don't forget to follow me.



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Lynne

Oh wow, a $24 increase over night, that must mean great things for your business Jkeyz2!

0 8 years ago

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CryptoGuru

It does mean great things for us for sure! Im going to have to shit down for a month so ill take a loss in pay in November due to rising cost of electricity but ill be back running in December and hopefully the price of Bitcoin will be $1350 by then. The increase helps our operation in 2 ways. The first way it helps is it increases our monthly income by the % the price went up to. The other thing that happens is we gain the percentage it went up in what we are currently holding in Bitcoin. Being in this industry is very fun and its most certainly a ride. Thanks for reading and paying attention i hope i can help you make even the smallest investment grow. Thanks again and i appreciate your time.

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Cristian

I think the Yaun will depreciate even further in the following 6 months. Eventually, that Chinese housing bubble is going to burst taking the Chinese economy and its currency down with it.
At least for a while, China really is an economic superpower and I don't see things changing anytime soon.

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CryptoGuru

That is true they are killing their economy or are they? China for the last ten years has been pulling out of the US dollar. They have been building like you said and collecting large amounts of gold. I think China has given up on the traditional money side of things and they have moved on to digital currency. They have early stages of a digital currency already in the works. People in That country are already well invested into Bitcoin and other crypto currencies. Every time the Yaun goes down Bitcoin goes up. I hope in that case that it continues to fall so people will clearly see the value of having a decentralized currency free from any government control. Thanks for sharing

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Cristian

That would be cool, I hope the overall transition of the entire world to cryptocurrencies will happen slowly over time, like you said, going down every day but not a crash, it can only make things worse.

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