The first two stories from Bitcoin price analysis (cointelegraph.com), were
- 2017-05-01: Bitcoin Price Can Reach $2,000 This Year, Still Has Advantage: Expert, and
- 2017-05-02: Bitcoin Price New All-Time High at $1,442, Bitfury Executive Predicts $5,000
Other stories had different targets: 'Bitcoin Price May Rise To $3,000'; 'Bitcoin Price Likely to Hit $3,500 This Year'; 'Investors See $4,000 Ahead'. The actual price continued to rise, with a few hiccups on the way.
- 2017-05-13: Bitcoin Price Drops 12 Percent Overnight, Quickly Recovers: Why It Happened
- 2017-05-20: Bitcoin Price Breached $2,000, Pundits Coin-Flip What Comes Next
The month's peak at $2700 was nearly double the price at the month's start. The month ended with the price on the rise again.
- 2017-05-26: Bitcoin Demand Explodes in India, Overwhelmed Exchanges Put Limits on Purchases
- 2017-05-27: Bitcoin Bubble Was Imminent, Bitcoin Price Drop Deepens, But Recovery Nears
- 2017-05-31: Breaking: Chinese Exchanges Resume Withdrawals, Bitcoin Likely to Surge
That last story explained,
OKCoin is the largest Bitcoin exchange in China which processes 31 percent of trades within the Chinese Bitcoin exchange market. In February, OKCoin and Huobi, the two largest Bitcoin exchanges in China, were flagged by the People’s Bank of China for operating a trading platform without appropriate Know Your Customer (KYC) and Anti-Money Laundering (AML) systems
The month ended with more predictions of fantastic gains for bitcoin owners: 'Bitcoin Price Could Reach $10,000 In Few Months'; 'Bitcoin Price Could Hit $100,000 in 10 Years'. Is this a classic case of supply-and-demand or an evolving example of the greater fool theory?
No comments:
Post a Comment