So, we have 38 days until the halving. Price is at ~$530. KNC just went Bankrupt, There is no scaling solution. Is it realistic to expect moon? I think maybe we'll have moon like October, but I don't see really anything hugely positive unless all the demand comes from China due to ongoing currency devaluations. I'd like to see another leg up this weekend but I'm not sure anymore.
Think this with logic... If China miners control most of the coin production. The exchanges will have supply problems! Meaning they will need to pour dollars/euro's towards China! And I don't think the commies know how valuable is bitcoin... so they will gladly accept dollar/euro "illusion money" to boost their yuan "illusion money". But assuming extracting coins from China exchanges won't be challenged by bureaucratic interventions... it will boost price in China as well and also it will boost the price in the West because they still have to do traditional banking that needs 2-3 days for international transfers to take place. Or the second option is that they need to buy directly from miners on the down low, hush.. hush... or from actual citizens... that will have the same effect mostly ... like 1-5 days delay and exchanges all over the world will have supply issues. Or there might be a 3rd option where the China miners already are involved in the West trading markets and will bring the coins directly to the West but for the same price or a better price than their own exchanges! So all scenarios point to higher prices for Bitcoin purchase!
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