Is this what is happening with Bitcoin? för BITSTAMP:BTCUSD av Turco

btcusd btccny bitstamp bitfinex okcoinusd1w btc-e huobi zarusd

I suspect we are witnessing a massive inflow of South African Rand into Bitcoin, which becomes quite evident in the above chart. The Rand has already reached record lows against the US dollar, and could show further weakness. Although I am expecting a pullback in BTC eventually, this bullish trend could continue for some time.

For further info watch the following CME youtube report:

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One thing I forgot to mention yesterday, is that Sergey Mavrodi is based in South Africa. I suspect he is a big factor in this price move, and is hedging against the Rand.

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