China is a big place. By that I mean that its a big market to over the next weeks or months to accumulate bitcoin, driving the price higher.
I think Europe and the US has exhausted its "newbie buy-in", and China may not have exhausted its.
There will still be some Americans and Europeans that learn about bitcoin and buy some, but the huge rush has hit already (for now).
I think Europe and the US has exhausted its "newbie buy-in", and China may not have exhausted its.
There will still be some Americans and Europeans that learn about bitcoin and buy some, but the huge rush has hit already (for now).
I think you're way off on this, honestly. I work in an office of 10 software-development-types. Of those, 3 of us have either bought or mined crypto-currency since March. Of those 3, I am the only one who is still holding Bitcoin.
The other 7? They know about it because I have told them and updated them along the way. These are the types of people that have at least the capability to buy Bitcoin right now, in my opinion. It's still not ready for mainstream, but it's getting closer by the day, and there are still tons of people who haven't heard about it yet, and a large percentage even of those that have are too fearful to buy in.
This is all anecdotal evidence, I know, but I think it is a valid cross-section of a group of people that I would expect to be more on-board already.
China's push and yesterday's U.S. meetings are a pretty strong indicator that Bitcoin is here to stay. As that general awareness grows and the fear diminishes, I expect to see much more "newbie buy-in"
Even from yesterday alone, and the #1 Google Trends spot (which is a lagging indicator of price) - the new people who want to put fiat in, either don't know how yet, or can't physically do it, due to the scarcity
I'll confirm this. Almost no-one holds Bitcoin yet.
