Bitcoin Forum

$1100 has been reached, OkCoin still has a big delay in price, china is no longer relevant. Bitcoin is now sailing with confidence towards ATH, and once ATH is broken there is no stopping, it's anybody's guess how high it will go.

It doesn't matter if there is profit taken between $1080 and ATH, it is now unavoidable and a matter of time when we destroy the ATH barrier.

It's not that China isn't relevant anymore, they are just waiting out how the actions of the PBOC will play out because there is definitely more to come. Other than that, depending on what exchange you use as a benchmark for the ATH, it will be possible to see a new ATH within a month if the ETF turns out to be approved. It's less than $100 we need to eat through in order to set a new record price. It feels fantastic being a holder with Bitcoin having so much upwards potential. ;D

China was all smoke and mirrors, their volume was fake, they no longer control anything. Their hashing power is also a scam, there are a lot of different mining pools that are owned by the same idiots which btw continue to not signal for segwit.

China will sooner or later get deprecated, their ONLY strong point is that they get cheap eletricity. THAT IS LITERALLY ALL. All good coders, innovation, etc, is not chinese. China is only making us lag behind in bitcoin adoption by not signaling for segwit, that's all. They are useless.

The PBOC is losing power. Bitcoin is going super sayain:

https://imgur.com/a/PD7fx#FHsB6cg

Now PBOC is dead, he can keep attacking all he wants, but he is already defeated. Any further attacks are futile, the only way is up. More attacks will only further solidify the new power acquired by bitcoin after surviving every attack.

You claim that China is still in play, but later you mentioned that they are no longer that prominent at influencing the price!
We have a situation when the 3 of the biggest Chinese bitcoin exchanges are frozen and bitcoin price is still gaining, it is unprecedented occurrence.
In the past we would see large decline in price, maybe even ~30% drop, instead we see that price is slowly reaching new ATH.

I am always conservative when it comes to discarding the impact of something so early on, but you guys definitely have a point. Maybe it was just that a lot people were sucked into the believe that China was a super power in Bitcoin, while slowly may turn out that it isn't the case at all. Either way, I continue my bullish sentiment as I always did. Maybe that now China is being put offside that we can enjoy a market with less reckless behavior.

I am with your guys.  I am smiling as I think about last summer.  That buy was in the low to mid 600's then.  It was scary adding to coin count when compared to the ones I added back in 2011.

Fuck China, and I mean that in a very broad sense.

Now as far as $1100 being hit, I'm totally cool with that, and I'll definitely be watching the price.  I figured we'd break to the upside.

I also agree with you guys,  new ATH is inevitable .  It seems Bitcoin is in super charged bull now.  I can see it breaking $1150 and then new ATH.  This will further pushed if the ETF is approved.  New and stronger hype for bitcoin will come in due to the incoming fund if ETF is approved.   I can say $1500  Bitcoin before this June?

While everyone, including I, think the optimism is behind the upcoming ETF, there's no guarantee that it will be approved. So to prepare for this, I think selling portions on this uptrend would be wise. There's definitely going to be a certain amount of tension, and a decision in either direction will have a big effect I think. China being reintroduced into the market will be interesting as well, so I'm holding on tight with a cautious optimism.

Climbing too fast again, dump incoming.  I have a feeling well see 3 digits soon.

I am afraid again $1150 will play as strong resistance zone as many bitcoiners still believe ATH would be the profit booking levels. The good thing is this time we are having massive investment news ETF to support prices. Still I am also very much confident this time bitcoin prices are going to see $1500 levels before making any turn, that too before end of February itself possible.

I actually see it too unstable. From one price at preev rate showing $1104 and at the same time a ticker from hitbtc at $1126.70  :-[
(http://hitbtc.com/exchange/BTC-to-USD)
Where do they get there price from now since okcoin & other chinese exchanges are suspended from trading?

So WhatTheGox?  :D

Why the huge delay in prices being the same on all exchanges? They are usually off by $2-5 sometime but $22.70 off of whack? WTF is that? :D

Have you not kept up with what's going on in China? It makes sense premiums in China are higher since Bitcoin withdrawals have been restricted for a month (not sure how much longer).

Ah got it now JimboToronto. Thanks.
So it is a Bitfinex scenario that is evolving there with out being able to get their coins out if all goes to the fishes in a heartbeat.
That will be a disaster for them but everybody else will be cheering when the price soars.
I just wish to be infront of my monitor when that happens.

there is another view that you can consider the current price as an ATH because the last time this price happened it was back in 2013 and it was a fake price pump by Mt Gox and it shouldn't really count as a legit price. which makes this $1111 the first time we see and that price can be considered as an ATH

This has been a pretty steady climb for bitcoin over the last few weeks and who knows until when it can sustain such a run. I feel like cashing out anytime now but the potential to reach new highs is something that is really holding me back.

and not to mention the huge increase in the localbitcoins trading website coming from the Chinese who moved their trading off those two exchanges and to other places.

I can see some profits being taken around the 8th or 9th of March, just in case. Remember the ETF decision comes on 11th March which is a Saturday (an odd day to make a decision!)

A little bit odd indeed but when approved you can party on in the weekend  8)

Isn't that smoke and mirrors raised price so far, which is still high. BTW full picture will be clear once withdrawal sanctions gone. Then we could see whether there is any bear-trap or is it real bulls market this time.

We all expect the price will continue to climb just higher, but I think some new drop will happen soon and we will come back on the previous price for bitcoin which was like 1000$. Cause of it's bitcoins nature. With such price people will sell bitcoins and that will provoke a new drop.