There is a high probability that Bitcoin will fall back below $1000 USD toward the end of the year. If there is an economic crisis it is likely money will be withdrawn from stocks and put into cash. This will caused the USD to fly and the price of bitcoin to drop. There will not be enough capital to re-inflate the bit bubble (this year).
Anyone can start a cryptocurrency by branching an existing one, such as Litecoin. The value is meaningless.
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China's government has ordered their 3 major telecoms to shutdown all VPN access out of China. This will likely affect Bitcoin very negatively, since 90% of transactions and 60% of mining is from China. The run up in bitcoin (and real estate in Canada) is all the result of capital trying to escape China.
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Deadcat bounce before continuing lower this month
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China begins to close exchanges and SEC will likely start to close exchanges in the USA in the coming months.
"The value is meaningless" - Any form of currency has value because people believe it has value. USD for example can be created by a private company out of thin air and is backed by nothing. So it's essentially a virtual currency. And still sheeple accept it has value because of the belief system. Why do you think it's so easy to get credit? A debt driven society is easier to control. The only bubble you should worry about is the fiat bubble.
BTC is a scarce commodity for storing large value which is easy to transfer worldwide. I don't think bitcoin and other cryptos will devaluate and become worthless or worth less than fiat. Swongs by optimism and FUD keep these markets very interesting. All different cryptocurrencies have their own properties and real world application and are valued accordingly. More and more people are realizing there is a monetary revolution going on and are joining. Cryptos and decentralization are freedom from oppression. With all the upcoming blockchain solutions disrupting the traditional financial world you should realize it doesn't go away anytime soon, even if it is still an immature and volatile market it will grow. Liberate yourself. Acquire moar and HODL.
Nice.. Your first public chart... what nonsense...
$1 - $3000.. Do the maths... Our economy is failing us.
Country's have turned to BTC as a safe haven... Example (Greece/Italy).. Next stop - The rest of the world...
So much positive public attention BTC IS (ill say that again IS going mainstream... Who cares if it dips to 1000 which is very unlikely with all the buy support big banks getting involved.. But if it does I will I'll buy a hell of a load more and so will 99.9% of investors and traders because at the end of the day it makes us money...
MarkusJanssen
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@Ckeefe420, Interestingly enough he's stating the exact same thing now :D backed by some "deep" technical analysis and false fundamentals. Funny guy.
mark.obradley
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@MarkusJanssen, what about fundamental analysis? China closing exchanges make it very hard to sell bitcoin...
MarkusJanssen
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@Mark.obradley, China is putting some regulations in place. That is true! But they won't shut the whole industry down, and they won't close all exchanges, neither did you provide any evidence for the SEC claims. Sure there'll be bumps along the way, but that's just part of the deal of integrating it into the mainstream.
@Mark.obradley, I actually applaud that, since I haven't invested in a single ICO due to their often nature. But how do you know exchanges won't follow the rules imposed on them? It is their business on the line after all. The same goes for ICOs, which provide a product of actually proven worth, because we all know there are some, and they won't just disappear. Their just trying to clamp down on scam ICOs at this point. You provide nothing anyone, who deals with this every day, does not actually already know and/or welcomes!
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@MarkusJanssen, Well for one the people that run them do not have the greatest integrity. Mt.Gox was a magic the gathering trading card exchange before it was a Bitcoin exchange. Another exchange just attempted to launder 100s of millions from the theft of Bitcoin from Mt.Gox. It is in their greedy interests to not play by the rules.
MarkusJanssen
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@Mark.obradley, Well as you mentioned in a different post, you work for a bank, so I guess framed integrity motivational posters are plastered all over the wall at your offices. Not trying to be insulting in any way, but what I am saying is that there are bad, greedy people everywhere, and more often than not they have high-level positions in companies, which they often misuse to further their greedy ambitions -> There are black sheep. Exchanges are merely a means to an end, but will in their current form not be needed anymore in the future either, thanks to blockchain innovations. Can't wait for that day.
BTC is a scarce commodity for storing large value which is easy to transfer worldwide. I don't think bitcoin and other cryptos will devaluate and become worthless or worth less than fiat. Swongs by optimism and FUD keep these markets very interesting. All different cryptocurrencies have their own properties and real world application and are valued accordingly. More and more people are realizing there is a monetary revolution going on and are joining. Cryptos and decentralization are freedom from oppression. With all the upcoming blockchain solutions disrupting the traditional financial world you should realize it doesn't go away anytime soon, even if it is still an immature and volatile market it will grow. Liberate yourself. Acquire moar and HODL.