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Comment by dgregd | Hacker News Reader

These all Bitcoin PR actions are quite similar to situation on gold market few years ago. And we know what happened with gold prices.

US is exporting "green paper" and importing physical goods. Do you really believe that the US government and banksters will opt out of all fiat currency benefits?

It is interesting that China government is honest enough to tell the people what Bitcoin really is.

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> And we know what happened with gold prices.

Still 3 times what they were 10 years ago. It seems unlikely at this point Bitcoin will collapse back to the $10 it was a year ago, even if there's a massive crash. For whatever reason, this year was a turning point.

>For whatever reason, this year was a turning point.

There's a few reasons for that.

    The banking crisis in Cypress 

    The opening of BTCChina

    The US Senate hearing on Bitcoin

The explosion of price caused by the above caused it to be in the press, which acted as a positive feedback loop and caused further explosion of the price.

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