Here is a plausible explanation: People can't convert to local currency so they are investing in anything to diversify. https://www.reddit.com/r/BitcoinMarkets

Here is a plausible explanation: People can't convert to local currency so they are investing in anything to diversify. https://www.reddit.com/r/BitcoinMarkets/comments/6a0cyz/when_is_the_dip_coming/ https://www.reddit.com/r/BitcoinMarkets/comments/6a0cyz/when... >>> why Bitcoin has been soaring: >>> Chinese exchanges are temporarily banned from margin trading, which has significantly cut down on the number of people shorting. (which is what held Bitcoin's price down for so long) >>> Bitfinex, one of the most high volume exchanges, lost the ability to withdraw fiat. This literally meant the only way to get funds off of it, was to buy Bitcoin.