Bitcoin’s price action has been on an absurdly torrid pace in the past few weeks, climbing 150%. Much of the surge has been attributable to China, where strict capital controls are in place to prop up the value of the yuan. A strong yuan direct supports Chinese policymakers’ intention to restructure from an export-based to consumption-oriented economy, where a strong currency carries greater purchasing power. Bitcoin is one of the few ways that ordinary Chinese citizens can get money in and out of the country. It also serves as a convenient black market currency for transactions that occur electronically. At the moment, 1 Bitcoin is equal to approximately USD$2,500. Will the exchange rate hit $3,000 within the next month? Agree – The exchange rate will hit $3,000/1 BTC or higher. Disagree – The exchange rate will remain below $3,000/1 BTC.