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It does seem that consistently this year, every time Bitcoin hits an ATH or psychological price, that the PBOC issues some edict or warning that causes the pric
by rothbardrand 9y ago
It does seem that consistently this year, every time Bitcoin hits an ATH or psychological price, that the PBOC issues some edict or warning that causes the price to drop. There's even a meme for this phenomena:
https://www.youtube.com/watch?v=Ry6PpRXk0dQ https://www.youtube.com/watch?v=Ry6PpRXk0dQ
This is from 2014! (I know the link goes to content not typically found on HN, I'm doing it for the purposes of illustrating that this is such a seemingly common occurrence.)
- sillysaurus3 9y agoIt's helpful to remember that BTC has had strong upwards pressure for several months now: http://imgur.com/IWwOgm9 http://imgur.com/IWwOgm9 A graph like that was going to correct, one way or the other. PBOC's decree seems incidental rather than the root cause.