Can bitcoin reach $5000 again without China ? - page 3.

tittensor

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Quote from: HeRetiK on September 17, 2017, 05:06:24 AM

Quote from: xypos on September 17, 2017, 05:02:11 AM

[...]

But right now markets have turned bearish and i think will continue to be for a while.

[...]

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.

Denker

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Quote from: bitcoincryptochamber on September 17, 2017, 02:14:30 AM

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

Of course!
Bitcoin is a global phenomenon and not bound to one nation!
Furthermore this is a great test! Bitcoin will show it's resiliency whatever one of the most powerful nations of this planet will do or say!
And it's people will also find ways to get some Bitcoin in the future. Bitcoin will be worth even more in the future after this fearful situations (fearful for some people with weak hands and who doesn't fully understand the power of Bitcoin). After each attack Bitcoin gets stronger and stronger. So what is happening now may be bad for the short term, but will be incredibly positive for the future!
Forks don't matter, social engineering and disrupting form the inside doesn't work, governments banning BTC doesn't work! BTC is a powerhouse!
Chinese exchanges will get either licensed or move to areas like Singapore, Taiwan, HongKong.
Bitcoin will continue growing in terms of it's value and of acceptance and user adoption as well. No reason to be worried. Just hodl and buy the dips!!

surix

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It should be able to:
- the 4 months ban of BTC withdraw in china some time ago actually prepared the world about it, and it didn't kill BTC;
- but OTC trade will most probably be banned as well;
- I wouldn't under estimate the influence of Chinese bitcoin supporters' influence in Beijing, they may already started lobbying. everything is still possible.

As said by someone here, there is no one dull day in BTC world... Let's see.

Maveth13

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Yes it can, bitcoin can also bounce back to $5000 WITH China. China didn't ban bitcoin itself, how would they? It's the china-based exchanges that they shutdown. The decrease is not mainly because of what China did, it's because of the misunderstanding of the news that then created FUD. It happened before, chinese traders would just move to OTC trading and it's fine.

maurobiasolo

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First, you said "without China", but did you also mean "without Chinese?" Wink

Because they have tons of money in BVI and the likes and they will keep investing in this sort of high risk/high return game. Also, Wall Street guys and retails are expected to get into the scene pretty soon (maybe just waiting for another consistent drop?)

iqlimasyadiqa

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Quote from: xuan87 on September 17, 2017, 06:43:44 AM

Yes I am sure, the most important thing is there are more users that used Bitcoin for transaction and if we can explained and convince other people that Bitcoin is a great currency and investment not illegal currency that they believed I think it will faster the process to reach 5000$

yes even without china we can do and go to the development of bitcoin which is much better. the market in China does have a very large base, but when we can convince more and more people to use bitcoin then more and more bitcoin demand in the world. this is the main factor that can make bitcoin better, the most perceived is the price of bitcoin can increase. so china is not the only bitcoin drive today, the world has to move and add more bitcoin to transactions in everyday life.

Nazmul012

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Quote from: bitcoincryptochamber on September 17, 2017, 02:14:30 AM

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

some people are taking about bitcoin banned by china, it's a fake news. some are taking about its a business plan & bitcoin will be recognized by China in future soon. bitcoin is now increasing around 3700-3900$ and i believe at the end of this year, bitcoin price surely hit 5000$ again...

btcney

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Quote from: bitcoincryptochamber on September 17, 2017, 02:14:30 AM

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

Should do so with ease in my opinion.

It could pull back to around $2.5k-3k before rebounding but i think once the rebound happens the price will go up to $4k+ once again. It could even go without the pullback phase, and just go to $4k+ from the level we are at right now.

China is still going to be a big player. Localbitcoins is just going to be used instead of OKCoin/BTCChina. It's not going to be much different.

xuan87

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Yes I am sure, the most important thing is there are more users that used Bitcoin for transaction and if we can explained and convince other people that Bitcoin is a great currency and investment not illegal currency that they believed I think it will faster the process to reach 5000$

sasaku bitbit

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I am confident and believe bitcoin will be able to reach $5000 without investors from China because of the price will be increasing bitcoin up again so that the users of the bitcoin need not fear or worry about the bitcoin lately still declining probably due to the effects of the market development but this will be recovered again in the increased price of bitcoin later

Barcode_

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Yes, I do believe bitcoin will be able to hit the price of $5000 USD even without the investors and traders from China, but it will just take a longer period of time to hit that value, it would be better to hold your bitcoin for now and wait for the price recovery.

Kyraishi

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Quote from: bitcoincryptochamber on September 17, 2017, 02:14:30 AM

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

If you mean this month then i don't think that a 40% gain is likely at all. The top for this month should be around $4k and that is going to be the ceiling because people still are panicking irrationally about Chinese exchanges closing down.

Next month when traders especially Chinese traders realize that Localbitcoins will still allow them to trade, actually more conveniently, the price could potentially rebound back up to a level close to $5k.

But long term, we'll be going to $5k no matter what. Whether China is with us or not.

cafucafucafu

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Quote from: bitcoincryptochamber on September 17, 2017, 02:14:30 AM

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

Bitcoin has rebounded up to close to $4000 already and although it has dropped again, there is absolutely no reason why it can't go up once again as long as people are feeling the urge to buy. Chinese exchanges were already not used very much, people in China have moved to p2p exchanges like LBC long ago because regulations were so strict anyways.

If everything goes well then we can expect $5k+ by the end of the year.

If not, price will go into bear market, but we'll still be able to break $5k in the coming years no worries.

HeRetiK

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Quote from: xypos on September 17, 2017, 05:02:11 AM

[...]

But right now markets have turned bearish and i think will continue to be for a while.

[...]

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.

xypos

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Quote from: bitcoincryptochamber on September 17, 2017, 02:14:30 AM

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

This year? In my opinion, probably not. But in the next few years, especially after the 2020 halving, it is almost a given that the price is going to go up to $5000 once again. In fact, i would even bet my money on btc going to at least $8k by the start of 2021.

But right now markets have turned bearish and i think will continue to be for a while.

China is a major player, but it's not the entire market. BTC will survive this, despite any shutdowns. But price will suffer.

HeRetiK

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Sure. Even if China fully turns their back to crypto, we will have lost "only" about 1/5th of the world's GDP. Bitcoin's potential upside however is much more than that.

Quote from: kachimasu on September 17, 2017, 04:00:30 AM

Unless they start shutting down mines, sure

Even if they started shutting down the mines, there will always be more than enough hashpower to take their place. That's the beauty of it.

Carlsen

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The price is just a result of supply & demand.
China broght a lot of money and demand to bitcoin. But I see no reason why the rest of the world should not be able to compensate that.
Of course it would take a while, but people in other countries are turning to bitcoin as well.
The 5k are only a matter of time.

LateralThinkerer

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Quote from: bitcoincryptochamber on September 17, 2017, 02:14:30 AM

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

Of course yes. $5000 is still cheap.

alyssa85

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The answer is Yes - the closing of the dodgy Chinese exchanges makes it more likely that an ETF is approved for example, which would bring in a huge amount of institutional money from pension funds and the like.

When the SEC ruled on the ETF at the start of the year, they specifically mentioned price manipulation in unregulated exchanges for their reason for denying the ETF. They were referring to the Chinese exchanges which had fake volume, probably fractional reserves and all sorts of dodgy practices.

kachimasu

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Unless they start shutting down mines, sure

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