Topic: Welcome back $4xxx bitcoin! (Read 1189 times)

Yeah the FUD went away and the bulls came back strongly.

The media seems to be portraying bitcoin in a positive light once again and that is one of the main reasons of this pump. China is still trading far lower than exchange rates on bitfinex, kraken etc.(western ones), dragging the overall price down just below $4000.

We should expect $4k to turn into a nice floor soon, instead of a resistance right now.

after the weak hands were flushed out for yet another time and whales took their coins out of their hands it is time for the FUD to go away and as we see it has. and with it the price recovered and we are heading back to normal prices after the correction.

i also want to congradulate those who bought the dip they are now enjoying nearly $1100 profit for every coin they bought.

The cryptocurrency market appears to be unconcerned about a Chinese crackdown on bitcoin, the largest digital coin by market cap.

On Thursday reports that Chinese regulators would require exchanges to shut down bitcoin trading triggered a sell-off of nearly $1,000, bringing the price of the coin below $3,000 for the first time in over a month. Within hours, however, bitcoin recouped most of those losses.

Since then, some of China’s largest cryptocurrency exchanges, including OKCoin and Huobi, have announced they will voluntarily halt trading between bitcoin and yuan and reports of further government intervention have emerged.

Still, bitcoin has nudged up near .72% over the past week, as traders brush off recent headlines as peripheral to the future of the digital coin.

Josh Olszwicz, a bitcoin trader, told Business Insider the markets are ignoring news out of China because it has zero impact on the coin’s actual blockchain technology.

“If it doesn’t affect the protocol, then it’s not a real problem,” he told Business Insider.”The bitcoin cash shakeup was much more worrisome from my perspective, but even then the core bitcoin protocol remained unaffected.”

The decline of Chinese dominance over the cryptocurrency market could also be playing into the muted reaction by the markets about recent regulatory news. According to data from CoinDesk, the cryptocurrency news site, bitcoin trading against the Chinese yuan dropped off from a near 90% at the end of 2016 to around 10% to 20% for much of 2017.

There still seems to be a resistance at the $4000 level(on coinmarketcap which includes chinese exchanges, if we are talking about bitfinex/bitstamp/coinbase then we are comfortably over $4k), we are currently very very close to breaking it again.

People still seem to be quite uncertain about how China is actually going to proceed with the rumours.

I think that by the end of the month when everything is settled, either way there is going t obe a pretty big pump in price.

after the weak hands were flushed out for yet another time and whales took their coins out of their hands it is time for the FUD to go away and as we see it has. and with it the price recovered and we are heading back to normal prices after the correction.

i also want to congradulate those who bought the dip they are now enjoying nearly $1100 profit for every coin they bought.

Even so the fact that btc increases in price even the China didn't remove the banning of it,then it just shows how powerful btc is with or without China it can recover.

In an average, bitcoin price is just above ~$39xx, but it's still good though considering the painful two week that we have been through. I think this is the true value of bitcoin now minus the Chinese market. Bitcoin once more proved its resiliiency, so holders are very much happy to see the price jump quickly while those weak hands who sold at $2800-$900 are just shaken their heads and regretting their decision. But to go to $5000 is anything thing. I don't know what significant event we need to see to really push the market price to $5000 once more.

If we note the past of bitcoin so we can find it easily that bitcoin recovers very fast. To touch back the subject figure has taken only one week and I personally welcome bitcoin in 4000. I hope after a month the subject will be welcome to bitcoin in 5000 because bitcoin has recovered very fast and now it will get raise most fast as it has break down all the speculation and now people are once again confidently buying bitcoin.

Wonderful, that is a good news to hear.
Bitcoin is recovering fast more than ever, that is a good sign showing Bitcoin will reach another all time high in few weeks.

For Chinese bitcoin holders, this was a big deal.  If there were serious rumors that you might not be able to trade in your cryptos for your local currency anymore, wouldn't you be concerned?

Additionally, there were a lot of technicals that were pointing to a significant pullback after we made it up to around $5k.  The news out of China gave traders a reason to sell.

Anything can happen, nobody can predict the future, however I love this trend. As much as I hope Bitcoin will go up, you can make a graph say anything, and analysis over the Bitcoin. Just think positive, this trend reversal into an uptrend sure! Seems like the Chinese ban is nothing though.

Won't last long, will be down to about $3800 tonight.

What are the purpose of these topics? It's been what an hour? This month of uncertainty has still got a lot of petrol to burn.

Yes! Now i am looking at the charts and i feel very confortable with those numbers, seeing bitcoin at $4000 keeps me a little more quiet, i am really happy with that. Now we have too see bitcoin going over $5000 and that will be one of our best goals. We couldn't touch the $5k barrier before, so i hope that is going to happen in the next weeks.

Wonderful, that is a good news to hear.
Bitcoin is recovering fast more than ever, that is a good sign showing Bitcoin will reach another all time high in few weeks.

Now the official news came like .Bitcoin was now level in China. In a week back.Some had said, China had stopped trading with bitcoin. After that the price of bitcoin is also reduce below 4000$.But after accepted, the bitcoin price again start to reach the maximum value. I.e greater then 4000$.

For Chinese bitcoin holders, this was a big deal.  If there were serious rumors that you might not be able to trade in your cryptos for your local currency anymore, wouldn't you be concerned?

Additionally, there were a lot of technicals that were pointing to a significant pullback after we made it up to around $5k.  The news out of China gave traders a reason to sell.

after the weak hands were flushed out for yet another time and whales took their coins out of their hands it is time for the FUD to go away and as we see it has. and with it the price recovered and we are heading back to normal prices after the correction.

i also want to congradulate those who bought the dip they are now enjoying nearly $1100 profit for every coin they bought.