Bitcoin Price Weekly Analysis: Price Falls Back to 380, BTC Exchanges Unable to Pinpoint Reasons
Bitcoin has had one of its best weeks since August 2014, peaking US$500 per bitcoin on November 5, reaching a new yearly high and attracting the interest of high profile Chinese investors and well-established financial institutions. However, the bitcoin price quickly depreciated as it surpassed US$500 in most Chinese exchanges including Huobi and BTC China, falling back to the US$380 zone and sustaining itself ever since. interestingly, prominent bitcoin startup, exchanges and financial experts are unable to pinpoint the exact reasons to both the surge and depreciation of the bitcoin....
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