Topic: Can bitcoin reach $5000 again without China ? - page 2. (Read 2010 times)
I think 5000 dollars is a very distant target, it is very difficult to reach this level until the end of this year, maybe we will find our chance in 2018
After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?
China is a big country and it is a very big contributor in bitcoin but even though China ban bitcoins it will surely recover as there are many countries who adopted it already. Can it reach up to $5000 again without China ?
So for me there is a big chance that it will reach to 5k within this year.
Answer is "No, btc CANNOT reach $5000 without China."
Simply because China controls over 60% of mining hashrate, 40% of all bitcoins mined so far are in the hands of Chinese. The Chinese Communist Central Party seems determined to stop the outflow of cash from China to abroad. This is all part of Xi Jinping's attempt to root out corruption in the government and also to consolidate more power within his grasp. He's currently facing a Central Party convention next month and needs to show who's the boss. Heads will roll before this is over in China. Exchanges will be shutdown, lawbreakers will be jailed and even shot as an example. Wait and watch. Bitcoin in China is facing existential threat right now. I expect Chinese Communist Party to slowly strangle it, not sweep it away in one fell swoop. This will take some time before bitcoin is snuffed out in China.
Simply because China controls over 60% of mining hashrate, 40% of all bitcoins mined so far are in the hands of Chinese. The Chinese Communist Central Party seems determined to stop the outflow of cash from China to abroad. This is all part of Xi Jinping's attempt to root out corruption in the government and also to consolidate more power within his grasp. He's currently facing a Central Party convention next month and needs to show who's the boss. Heads will roll before this is over in China. Exchanges will be shutdown, lawbreakers will be jailed and even shot as an example. Wait and watch. Bitcoin in China is facing existential threat right now. I expect Chinese Communist Party to slowly strangle it, not sweep it away in one fell swoop. This will take some time before bitcoin is snuffed out in China.
China is a major player, but most of the trades are distributed around the world. In addition, Chinese people can still buy and sell Bitcoin through p2p trading.
The good thing is that now no one can complain about China manipulating the price.
Yes the community ought to be celebrating because it is actually a good thing happened to us. On a number of occasions in the past, the market have had its soar punctured by China Acupuncture needles because they are afraid of Yuan losing it to Bitcoin and yet there not much they can do to stop Bitcoin, as a matter of fact, they are already late the revolution across globe already started in 2009. The good thing is that now no one can complain about China manipulating the price.
China is a major player, but most of the trades are distributed around the world. In addition, Chinese people can still buy and sell Bitcoin through p2p trading.
The good thing is that now no one can complain about China manipulating the price.
The good thing is that now no one can complain about China manipulating the price.
It's true, before everyone thinks that China is manipulating the price of bitcoin and now if the price gets higher again, then there's new person to blame with it and that is Dimon. We can't deny that China is one of the big contribution in the market of bitcoin but bitcoin isn't only for them or about them but it's market is circulating all around the world so it's possible that bitcoin can still be $5,000 w/o them.
After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?
Probably it can and we also hope too. There'll be another hardfork in the month of November and that's a good chance especially if the hardfork will be successful. As far as I remember, the success of the recent hardfork last month of August, made Bitcoin to reach the 4500$ mark in just a short period of time. And hopefully, same thing will happen in the coming hardfork. Can it reach up to $5000 again without China ?
China is a major player, but most of the trades are distributed around the world. In addition, Chinese people can still buy and sell Bitcoin through p2p trading.
The good thing is that now no one can complain about China manipulating the price.
The good thing is that now no one can complain about China manipulating the price.
China have a big slice portion btc, they close exchange doesnt mean they totally can't access right? so i believe btc will raise again slowly. this is just effect panic
After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?
Can it reach up to $5000 again without China ?
You're getting a lot of responses coming from people who I'd call extremely optimistic. I think Bitcoin does have the potential to go up again, but I don't think it's likely in the short term. I think more countries need to adopt BTC and crypto. If ICOs and Bitcoin find a new home in a different country, it's possible that it will do well.
Sure, China is not everything, there is a big worldwide demand for btc.
It is all just a matter of time. It will be with China.
Chinese government run and regulated exchanges will be here before long.
There is no way that they will turn away from this future coming, they just want a large role in the way it happens.
Chinese government run and regulated exchanges will be here before long.
There is no way that they will turn away from this future coming, they just want a large role in the way it happens.
I am pretty sure we are going to reach $5000 by the end of the year. The price could have fallen more but it haven't!
It is the ICO and the exchanges and not bitcoin. Miners will still continue to do what they do.
But if ever they will then sure it can stand up again because this will be a great opportunity for new buyers to buy at a cheaper price rather than 5000 dollars.
Look where it is again and it is proof that it can go back up in no time
But if ever they will then sure it can stand up again because this will be a great opportunity for new buyers to buy at a cheaper price rather than 5000 dollars.
Look where it is again and it is proof that it can go back up in no time
Bitcoin can easily reach $5000 again, But as we all know that China was the biggest consumer of Bitcoin in the past. China has the major part in Bitcoins. Right now the price will stabilize for some time and then maybe it will raise or maybe it can start falling for some time.
We have proven already that bitcoin can exist without the Chinese market. Japan, South Korea and the West have enough to covered for the trading volumes that China will left if ever they are really planning to ban bitcoin. The thing is, they still have the control of the bitcoin mining so evidently they will have the capacity to affect the market. Of course $5000 is really possible, as long as the big markets in Asia minus China, USA and Canada will continue and even double its trading volumes and activity in the next coming weeks.
Bitcoin can easily reach $5000 again, But as we all know that China was the biggest consumer of Bitcoin in the past. China has the major part in Bitcoins. Right now the price will stabilize for some time and then maybe it will raise or maybe it can start falling for some time.
Yes it will definitely reach to $5000 but may take a little longer as it was expected to reach much higher than that at the end of this year, but after the dramatic fall due to China ban on cryptocurrency exchanges happened.
It is not only China involved in bitcoin till now they were the largest traders of bitcoin , now someone else will take that place because the whole world is chasing bitcoin. We may see some more dips to bitcoin in the coming month after the Chinese exchanges closes their operations but it doesn't mean that bitcoin can't survive without China. May be China's shutdown bring it to a slowly progress but bitcoin will move on.
It is not only China involved in bitcoin till now they were the largest traders of bitcoin , now someone else will take that place because the whole world is chasing bitcoin. We may see some more dips to bitcoin in the coming month after the Chinese exchanges closes their operations but it doesn't mean that bitcoin can't survive without China. May be China's shutdown bring it to a slowly progress but bitcoin will move on.
Even though the bitcoin is banned in China few weeks ago.Now they realise and start to accept bitcoin for their transaction.Many think about the price of bitcoin is low now.But just think few days ago the reach 3100$.But now is like 3800$.Only bitcoin will raise this much.Not a single altcoin will have this much power.
Look history,btc price one year ago was 550$ than was dump to 300$ ,Left all that dump news it was correct nothing less nothing more.Better look Seagwit btc ransaction time is 5 min,but not all services switched to seagwit
Yes it will definitely reach to $5000 but may take a little longer as it was expected to reach much higher than that at the end of this year, but after the dramatic fall due to China ban on cryptocurrency exchanges happened.
It is not only China involved in bitcoin till now they were the largest traders of bitcoin , now someone else will take that place because the whole world is chasing bitcoin. We may see some more dips to bitcoin in the coming month after the Chinese exchanges closes their operations but it doesn't mean that bitcoin can't survive without China. May be China's shutdown bring it to a slowly progress but bitcoin will move on.
It is not only China involved in bitcoin till now they were the largest traders of bitcoin , now someone else will take that place because the whole world is chasing bitcoin. We may see some more dips to bitcoin in the coming month after the Chinese exchanges closes their operations but it doesn't mean that bitcoin can't survive without China. May be China's shutdown bring it to a slowly progress but bitcoin will move on.
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But right now markets have turned bearish and i think will continue to be for a while.
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But right now markets have turned bearish and i think will continue to be for a while.
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I think it will largely depend on whether the USD 3k,- bottom holds. Should we break through, we're likely to face a prolonged bear market. Should USD 3k,- hold, I see BTC recovering rather swiftly.
If worry about whales means please ignore because they are not able to maintain the dump for some days now bitcoin again started increasing in the chart.
If you are trader, you can still utilize this time and can buy bitcoin as much you can with your trading etiquettes. Holders also can hold since you see the last peak value again.
I think it will largely depend on whether the USD 3k,- bottom holds. Should we break through, we're likely to face a prolonged bear market. Should USD 3k,- hold, I see BTC recovering rather swiftly.
But sometimes I doubt this FUD not as easy as it is now. Because you have to remember we are feeling familiar the situation the price of Bitcoin drop down by FUD. Of course, almost traders have experience will transfer their money to USDT earlier than that time or hold their Bitcoin if missed good price. I worry the whales will create big breakdown in long time like few years ago again.Should Chinese exchanges really cease to operate by the end of September / October it would actually be better for Bitcoin than all this speculation on what happens next. China is a big market, but Bitcoin can do well without it.
Either way, this year's market is not really comparable to 2013. The growth spurts of 2013 took place over much shorter timeframes, so naturally a strong correction had to occur. This time around growth was way saner, leading to elevated, yet stable price levels.
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