The Bitcoin thus respects an archi-classic scenario: to erase 50% of the decrease between 4970 and 2980 $ suffered from 3 to 15 September (ie 12 sessions since the Bitcoin is negotiated the same way during the weekend as in week). The BTC will have only spent 3 days to recover $ 1,000 (to schematize) after losing 40% on its summits in the space of 2 weeks. If the Bitcoin is deemed to be able to protect you against the volatility of the Dollar or the Euro ... this amounts to protecting oneself from the vertigo of drunkenness by injecting a cocktail of LSD, methamphetamine and hypnotics. Let us be clear: even in our worst-case scenarios, we do not envisage that a confiscation of your Cypriot savings will deprive you of more than 20% of your assets. Now with the Bitcoin, you can lose -30% in one night ... - and certainly take 30% more as we observed since last Wednesday.
Why such a volatility of Bitcoin?
The panic that seized the operators was caused by China's desire to ban trading platforms on its territory. But these platforms are only a convenience since it is possible to carry out transactions by connecting directly to applications dedicated to "one to one" and which guarantee the same anonymity.
If the Bitcoin becomes difficult to access (if not officially illegal) in China, amateurs are welcome on the Japanese and Korean platforms - remember, Japan officially recognized the Bitcoin as a currency in April. On the other hand, it is more complicated for a Chinese citizen to circumvent foreign exchange controls on capital entering and leaving the territory. With Bitcoins, the virtual wallet is located anywhere on the planet, at any time of the day or night: no "digital customs" will control or control it. So we just do not buy Bitcoin in Yuan, and do not convert them back into Yuan after surrender, which means for the Chinese to have an offshore account often undeclared because as soon as the money appears on a bank account official, it is subject to the rules of the country where it is in terms of taxation and freedom of movement.
source picture : https://goo.gl/images/2XwTmY
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