Cryptos on a rise again - China effect wearing off

Cryptos on a rise again - China effect wearing off

2 October 2017, 11:27
Champion-FX
0
21

Bitcoin was the main gainer lately, followed by Ethereum and Litecoin. Bitcoin is currently around $4500, Ethereum over $300 and Litecoin around $55 and it seems like the current trend is supported by fundamental as well. More and more Exchanges located around China (Hong Kong, Singapore) are attracting Chinese investors to place their money and continue to trade digital currencies. These are very good news for Bitcoin (in particular) as well as other major cryptos, due to the fact that it was a general concern that Chinese shutdown will create a global crisis and Bitcoin will crash towards $2000 or even $1000, the moment it broke below $3000 level. Another reason for this rally could be a possible conflict in Korean Peninsula, as it is well known that South Korea and Japan are some of the biggest markets for Bitcoin and also a possible safe haven.

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