For now price increase in insane. Week ago I wanted to buy bitcoin for £200 an now it is worth £280, it is insane.
But I suppose it price will drop significantly when news about Bitcoin ban in Taiwan will reach general public.
You think it will have much impact? Doubt it will stop the rise while china keeps buying like it has been.
700 would be nearly a 300% increase. i don't think it'll happen that fast. maybe before the end of the year, but not on this run up. we'll probably see a retrace by the weekend
Yes it will probably fall again by the weekend. But don't know if it won't continue to go up after. There is too much buying going on.
I think it's a bit too optimistic to predict such price level just yet. As far as i am concerned, it we end up having support ~400 and not fall down again, it will be
good enough, and more "healthy" for both the market and bitcoin trending. Pure pump of the price doesn't mean much with thin support behind it.
Agreed, we need a rocky progression otherwise we'll fall hard. A mountain built on a wide, rocky base is much stronger than one built on a thin base.
Any thoughts on what's causing the run-up this week?
Probably china.
