Bitcoin price is still trading in a downtrend below 8800 against the US Dollar BTC needs to settle above the 8920 and the 100 hourly SMA to start a recovery

Peertopeer lending has become an emerging trend in various countries around the world Especially in China things seemed to be heating up thanks to a company called Ezubao But at the same time rumours started surfacing this companys intentions were less than honorable At it turns out Ezubao was nothing more than a Ponzi Scheme hurting the public image of peertopeer lending in the country

The recent appreciation in Bitcoin price has been attributed to the steadily increasing demand for the digital currency among investors from different parts of the world One of the main reasons for the increasing Bitcoin prices is said to be falling value of Chinese Yuan The uncertainty revolving around the upcoming US presidential elections is yet another factor fueling the demand for Bitcoin