The price of Bitcoin in indonesian was go to $970 this morning, this all because Chinese investors continued to push high volumes and indonesian etnis chinese push transaction in local exchanger in indonesia
Most investors at this time of the year are hoping to evade capital controls and circumnavigate cash restrictions, as noted by Holger Zschaepitz, financial author and editor of Welt.
$1,000 before New Year?
Based on this trend and price rally, it is likely that the Bitcoin price in China will surpass $1,000 before the New Year.
Last week it was also revealed that China investor hit an all-time weekly Bitcoin trading volume on exchanges, as investors began to panic purchase Bitcoin amid a well-performing price rally. However, the drastic increase in trading volumes suggests that the devaluation of the yuan is foreseeable in the short-term.