Why Bitcoin Is Surging Higher And Why The Ban Is Fueling The Surge - InvestingChannel

Why Bitcoin Is Surging Higher And Why The Ban Is Fueling The Surge

“As central bank officials try to thwart the virtual currency, it appears to be having the opposite effect… The fear of a weakening currency has pushed Russian and Chinese investors into Bitcoin. Those who are invested in China and Russia, upon seeing the local exchange rate weaken, want to get their money out fast before they lose any more on the conversion back to dollars.”