Bitcoin Forum

Bitcoin Price $800 Imminent; Boosted by China Capital Outflows

Bitcoin has been going strong since the past few weeks. The cryptocurrency which was priced at around $640 in mid-October has surged past the $700 mark and now stands at $725, after falling to $690 briefly over the weekend. At the current pace, the price of Bitcoin reaching $800 is imminent.

http://www.newsbtc.com/2016/11/01/bitcoin-price-800-imminent-boosted-china-capital-outflows/

We just crossed $700 and people feel that $800 is imminent.
Even media articles seem to resemble the speculation section of this forum.  :P

I could not agree more, if bitcoin does make $800, they will tell you $3000 is imminent :D

Currently price is around 735-740$ and it is realistic to expect 800$ very soon if this trend continues.Mostly everyone say that this price increase is connected with China and this article explains some reasons that could be behind all this.I think it's better to write positive than negative news :)


Why you think that someone will write 3000$ is imminent if price reach 800$?Maybe 1000$,but hardly someone would so exaggerate with the prediction :)

Always when the price seems to be going up in a nice flow, people directly tend to connect the increase to a certain news article saying Chinese people this, or Chinese people that. I think it's more a pump rather than Chinese people actually jumping into Bitcoin just to escape their own country financially.

Here oh here. All those betting it to breach $800 are again going to lose their monies. Even if it does reach $800, it will take a long time before it gets there given the sharp crash in prices today.

The price is going down ,boosted by china's proposed regulation on bitcoin ,how things change in a matter of days,this is the main problem with speculations,you would imagine the price would go one way and then it falls just like that ,most of the time the price would go down because of a hack and now the price is going down thanks for the chinese >:(

I wouldn't think so, the $800 target is far away from now and I hope that there will not be another dump like last days, everytime the bitcoin want's to reach the "moon" something else happens.

I wish that was true, but unfortunately the price has dropped to $705 and there are no signs for it to rise to $800 in the nearest future. However I do agree that the price of Bitcoin reaching $800 is imminent, only it will happen not so fast, maybe in 6 months or so.