bitUSD shooting up. Why?

[yellowecho]

The market cap of bitUSD is relatively the same so I can only assume you mean the price.  BitUSD has been trading at a premium (1.01-1.02) because of the increase in demand as a storage of value against BTC price volatility to the downside.  While this trade action is somewhat predictable, what I find most telling is how bitUSD trades at a premium in such scenarios while Nubits trades at a discount.

[davidpbrown]

Everything is relative; so, a statement such as "BitUSD is shooting up", really does need to suggest relative to what.

The dollar looks a little stronger relative to certain other currencies but that'll change.

The marketcap for bitUSD looks the same as it has for a while. BTC is falling because of ?noob merchants like Microsoft dumping into fiat or some other reason - perhaps there are not enough new buyers atm to keep up with miners.. and people have more reason to buy Bitcoin2.0 like BitShares; CounterParty; MaidSafe; etc, than ever hold BTC.

[santaclause102]

The price in BTC is naturally shooting up but it's USD market cap stays the same roughly. http://coinmarketcap.com/assets/bitusd/#charts
No?

[cn-members]

Hi guys,

BitUSD is shooting up which is nice however, why is it?  How can I keep untop of predictions?  I suppose that's the million dollar question..

BTS is going down , so BitUSD is going up .

[NineLives]

Hi guys,

BitUSD is shooting up which is nice however, why is it?  How can I keep untop of predictions?  I suppose that's the million dollar question..