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Tenured

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Tenured

Re: None

Friday, 09/08/2017 4:52:04 PM

Friday, September 08, 2017 4:52:04 PM

Post# of 26495
Why the drop? News out of china. Nothing to do with "premium".

https://www.google.com/amp/s/techcrunch.com/2017/09/08/bitcoin-price-drops-following-report-that-china-is-going-to-shut-down-local-exchanges/amp/

If you do some background reading you'll see that China doesn't like bitcoin because it hurts the yuan (which the country can manipulate).

Make no mistake this will hurt gbtc since they are responsible for a lot of bitcoin demand, but it should recover nicely. How long? Hard to say.

With other countries adopting bitcoin, it won't permanently damage gbtc.

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