But for one third you need to be a horsetrader.
And that means sometimes you need buy "shit" low to sell same "shit" higher and that you need to sell it, before this bubble of "shit" is going to burst. Or other will do same and earn "your" money.
to make it right ....
---> sometimes you need to buy "high" to sell it "higher".
But let us see now how long it needs to get this bubble burst.
If ever BCTUSD wil rise again above the Jauary highs than Chinas curriency is close to the next devaluation. China will give us some month time now to focus on higher stockmarket prices. Later this year this issue might bring stockmarkets under huge pressure.
Business News | Wed Jan 11, 2017 | 8:58am EST
Bitcoin slides as China's central bank launches checks on exchanges
By John Ruwitch and Jemima Kelly | SHANGHAI/LONDON
China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar.
The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan.
While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year.
Capital curbs push Chinese firms to risky, costly dollar bonds
By Samuel Shen and John Ruwitch
SHANGHAI (Reuters) - China's efforts to support its currency and cool its hot property market are encouraging more Chinese companies, including many state firms, to take on extra cost and risk by raising foreign-currency bonds in Hong Kong and other offshore locations. Despite the yuan's nearly 7 percent slump against the dollar in 2016, Chinese companies including state-owned Bank of China (SS:601988) raised a record $111 billion in offshore dollar bonds, according to data from Dealogic, up from $88 billion in 2015.
JPMorgan (NYSE:JPM) analysts, using their own dataset, are forecasting another rise this year, even though many economists expect the yuan to fall further, making the loans more expensive to service and repay. The list includes issuers who need dollars to pay for overseas acquisitions and deals but are unable to use their yuan after China tightened its grip on capital outflows last year to support the currency.
"It's getting increasingly difficult to move money out," said Shen Weizheng, fund manager at Ivy Capital, which invests in stocks and bonds in Hong Kong. "So for Chinese companies eager to invest overseas, the dollar bond market becomes an easier funding avenue."
China central bank official defends rapid foreign reserves use to keep yuan steady
© Reuters. China central bank official defends rapid foreign reserves use to keep yuan steady © Reuters. China central bank official defends rapid foreign reserves use to keep yuan steady
BEIJING (Reuters) - A senior official at China's central bank has defended authorities' rapid use of foreign exchange reserves to keep the yuan currency stable, saying the benefits "outweighed the drawbacks", according to a state newspaper. "The use of foreign reserves has kept the yuan stable and prevented market overshooting," the Ren Min Zheng Xie Bao. Paper quoted Yi Gang, a vice governor of the People's Bank of China (PBOC), as saying. The paper is owned by political advisory body the China's People's Political Consultative Conference (CPPCC), of which Yi is a member. The yuan fell 6.6 percent against the dollar last year, its biggest loss since 1994, under pressure from sluggish economic growth and a strong dollar, which have spurred capital outflows.
China has spent $1 trillion in foreign reserves in the past two years as it tried to stabilize the faltering currency, the newspaper said. China's foreign reserves shrank to near six-year lows in December, but held just above the critical $3 trillion level, sparking speculation over how long authorities would be able to continue defending the currency. The government has turned to other administrative and regulatory measures in recent weeks to curb outflows and clamp down on speculation. Quote: https://www.investing.com/news/economy-n...
February 8, 2017 at 12:30 JST
BEIJING--China's foreign exchange reserves unexpectedly fell below the closely watched $3 trillion (336 trillion yen) level in January for the first time in nearly six years, though tighter regulatory controls appeared to making some progress in slowing capital outflows. China has taken a raft of steps in recent months to make it harder to move money out of the country and to reassert a grip on its faltering currency, even as U.S. President Donald Trump steps up accusations that Beijing is keeping the yuan too cheap. Reserves fell $12.3 billion in January to $2.998 trillion, more than the $10.5 billion that economists polled by Reuters had expected. While the $3 trillion mark is not seen as a firm "line in the sand" for Beijing, concerns are swirling over the speed at which the country is depleting its ammunition, sowing doubts over how much longer authorities can afford to defend both the currency and its reserves. Source: http://www.asahi.com/ajw/articles/AJ2017...
Quote: Bitcoin hits all-time high as talk of US ETF approval intensifies
Digital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission. "There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program. Source: http://www.cnbc.com/2017/03/03/bitcoin-h...
We have seen for a long while.
Actually, I didn't trade BTC due to non-value at all in my view.
I have been focusing on my business and my local stock.
Keep in touch.