Topic: [2017-09-16] Can Bitcoin Prices Reach $5000 Again Without China? (Read 6424 times)

Of course. Who said, China is the only reason why bitcoin is rising? I admit that China plays a big part on bitcoin when it comes to trading but is China the only country in the world? We are expecting more countries to join so put all your doubts aside.

Over the past three days, bitcoin and almost all altcoins have decently risen in value. So, bitcoin today rose to a rate of 4 019 dollars. This indicates that bitcoin may well cost China and by the end of the year go over the mark of 5,000 dollars.

Just because BTC is "banned" in China doesn't make it banned.  People will skirt the system and it will go into a black market.  Seemingly, the price will re-stabilize and continue to hit record highs as demand continues to grow.  I don't feel the artificial 'pump-and-dump' scenarios are a viable long-term solution; and will result in less fluctuation in the future.

Since in China all the issues that have arisen with the crypto currency will not be stuck in the coming months (the Chinese BTCChina intends to stop trading bitcoin on 30th of September, and the other two major ones in October), then we can see before the New Year that bitcoin will reach the rate of 5 000 dollars without China.

I am disagree. China didn't leave the market of crypto currencies and stayed on it as mining giant. Actually I support Chinese decision about ICOs' banning, most of them are just a scam and I have seen many coins and tokens that cost even fewer than right after release. About closing of exchangers I may say that it is a step to bitcoin's regulation, but not to bitcoin's end in China. I suppose they will create some government exchangers or all operations will go through banking exchange. Time will show.
Bitcoin has crossed 4000$ point today already and I think we will not need to wait for so long to see 5000$ again. My prognosis is 1 month.

No serious China trader is going to sit around and see Bitcoin reaching $25k soon without him enjoying the ride. The scene will go underground, out of government's sight.

I think the lower value of the bitcoin due to the china sellers, is just temporary. They are just moving their cryptos to exchanges abroad. Bitcoin is already up to $4000 and will climb to $5000 easily in the next two weeks. So, if you got some investment money left: buy bitcoins and make 25% in the next weeks.

I recognize that china has a lot of influence on bitcoin and with this decision of the Chinese authorities, Japan will take the place of china, it will be very good

countries like china and russia are very dangerous, china has an authoritarian, communist and socialist regime, do you imagine bitcoin having a future in a country like that?

I do not see future of bitcoin in a country like China.


As for the title question, I believe that yes, in the future many and many countries will use bitcoin, there are many chances of bitcoin to be worth much more than $5000

I remember many times that China was trying to ban Bitcoin, it got even stronger in every way, but this time it got a bit sick, I believe the prohibitive minds are always losing.

If the Chinese government prolongs its restrictions on the crypto currency for a long time, the world will develop a crypto currency without China. It's only a matter of time. In order for China not to do it, bitcoin should be reconstructed and its course will grow again. Now the information is coming in that traders of China's crypto currency are applying for bids on the Hong Kong stock exchanges. This was to be expected. Crypto currency in China will not die, it will simply move to other countries, and China in this case will remain without financial influence in its economy.

It can. If other big countries like US and Japan will step up. China don't own the 100% of Bitcoin. Japan is known to be a Bitcoin friendly country. Investors can just easily migrate to other exchange to trade bitcoin. China can't ban Bitcoin. If they ban it, it's their loss. And other country will take their place as the biggest bitcoin player. Of course they don't want that to happen. So i believe China will never ban Bitcoin. They just stopped all of the operations of the exchange temporarily as they are creating solution about this problem.

I do believe that the bitcoin price will continue to go up, either with or without China. Yes they are important, specially because most of the miners are there, but we didn't really completely lost China yet, since it's perfectly legal to still hold and mine bitcoin, and the suspension on BTC trading is temporary. Some believe, and I agree, that this was just a way for the Chinese government to put a halt on bitcoin and ICOs until they find a way to do some king of regulation to it, but I really don't think they will make this ban a permanent decision. But even if they do, and chinese don't manage to find a way to continue using BTC, this is definitely a world wide trend, and others along the world will see this an opportunity to just get into the market left open by China. You can't ban BTC unless you ban the internet, so I guess the price will rise and not only we will get to $5k again, but we will also pass through it, with or without China.

Current levels are nothing more than a joke - just wait for the moment institutional investors start emptying the circulating coin supply. China has been a great addition to Bitcoin due to their major size, but it has become clear that their government isn't going to allow crypto to take over in their country. I must however point out that I was reading through some posts on social media, that the Chinese government might be looking to heavily centralize the Chinese market by granting only a select few exchanges a license to keep fully operational. This way they could keep control over what happens with everything that is crypto related, without the need of going through an entire ban. At the end of the day, Bitcoin can't be banned entirely, and for that reason it will be a beneficial option to filter every user and its holdings who sign up at the selected exchanges. If you ban Bitcoin entirely, which as I mentioned before isn't possible, you'll see everything move 'underground', and that's exactly where you as government have almost zero control over.

I think there won't be. Chinese exchanges will continue to function, simply because it's profitable for the government to keep them running. They will have to pay fines or apply for licences, or both, but eventually they'll be allowed to come back. They are bringing money from abroad, have the ability to disrupt BTC markets worldwide, are paying taxes... There's really no reason to ban BTC, especially when China is experimenting with blockchain tech.

Bitcoin is still in its early days, so naturally it will pass farm beyond $5,000 but the only question is when it will happen. Maybe there will be some delays caused by events similar to recent China's exchange closure, or maybe we will have a new explosive rally in a next few months. For example, the Lightning Network might trigger a huge bull run if it will open Bitcoin to new markets that require transactions with near-zero fees. And in any case, Bitcoins performance is much higher than performance of any traditional asset on the market.

Crypto currency can well do without China. Moreover, Japan has already announced its readiness to conduct ICO in the volume that China previously carried out. After. as potential investors will understand that nothing special has happened from the crypto currency, it will again rise in the course. The world will slightly rebuild without taking into account the China's crypto currency market and will again develop the digital currency.

Why everybody says like China is leaving the bitcoin market? In any case people from this country are going to use and support bitcoin, they just will move on other exchangers and that's it. Nothing actually happen to talk about it as bitcoin's disaster. And don't forget about mining which is blooming and developing in China.

Can Bitcoin Prices Reach $5000 Again Without China?

Long-term yes, for certain they can.
Shorter-term could be a long couple of years, if the current Bull market is truly over.

After falling for most of the week like a stone, Bitcoin, the “people's currency,” made a sharp turn upwards on Friday and early Saturday morning, gaining close to 12 percent within 24 hours.

Other cryptocurrencies followed suit. Ethereum also gained close to 12 percent, while Litecoin fared even better gaining close to 19 percent.

That should come as a relief to cryptocurrency investors, especially to those who purchased at much higher price than the current levels, before China shut Initial Coin Offerings (ICO). But is the worst over? Can cryptocurrencies reach $5000 again without China?

Stelian Balta, Founder and Managing Partner of HyperChain Capital, thinks so.

“If we look at Bitcoin or Ethereum from a technology perspective, the bad news is not entirely relevant. Miners will continue to mine and developers will continue to create great code and projects. Digital assets are a global phenomenon and the ecosystem is in its early days.”

Balta further argues that cryptocurrencies can survive and thrive without China. “I am very optimistic regarding the global digital assets market,” he says.“Digital assets can be considered commodities trading on supply and demand. There is fixed supply and increasing demand.  China is an important market and the recent news of exchanges shutting down and ICO funding being banned certainly has a short term negative effect on the prices. However, digital assets are a global phenomenon. Huge Internet businesses like Facebook or Google are banned in China and are doing pretty well.”

https://www.forbes.com/sites/panosmourdoukoutas/2017/09/16/can-bitcoin-prices-reach-5000-again-without-china/2/#598408546eb3