"There has also been a surge in demand for Bitcoin in China, where the new interest is being explained by a number of factors, including the drop in the stock market there, as well as the emergence of a new Ponzi scheme tied to Bitcoin. The price of Bitcoin has been rising faster on Chinese exchanges than elsewhere in the world.Bitcoin Surges, Emerging From a Lull in Interest - The New York Times
Bobby Lee, the chief executive of one of China’s biggest Bitcoin exchanges, BTCC, said that, as was the case in past price spikes, a critical mass of reports on Bitcoin was drawing a new wave of speculators, betting more on the future of the virtual currency than on its current use.
“There are a few tipping points in a row, and you get a tidal wave,” Mr. Lee said. “It’s classic bull market.”"
Thursday, November 05, 2015
Bitcoin Surges, Emerging From a Lull in Interest - The New York Times