Bitcoin Forum

After the fall due to china ban , Bitcoin has dropped on short term basis .
Can it reach up to $5000 again without China ?

Yes and it will. Why should it not?

probably right now no, it can't. because most of the operating miners are china based, most of the big whale for trade are also based there.
So in a short term I think we can't see this value again, let's see difficult or hash power on btc wisdom: is pretty clear mining operations have get a sort of ALT in these days.

IMO, BTC can reach $5000 again with or without China banning the exchanges.

As you can see, the chinese are finding all sorts of ways to trade BTC. The latest i heard of is trading OTC over telegram.

yes it is very likely to happen,
although without china, bitcoin prices can still soar,
china does have a big effect In bitcoin,
but it does not make weak bitcoin without china,

Why depend only on China ? The only thing needed to achieve higher prices is to adapt the use of bitcoins more in the community. Exchanges through selling ang purchasing bitcoin will increase demand and decrease supply making it worth more and increase more through the continuous process.
China is not the only population needed, there are other countries too.

Of course, I can. bitcoin now has a strong foundation in the form of a large community and investors (apart from China). so I guess bitcoin can still get a price of $ 5000 or even $ 6000 when the situation is stable.

Of course yes! It will a bit slower but of course it will go up. Everything is ok due to elliot theory. So buy low and wait a bit

Yes it will reach 5k and even higher,but not as fast as you think,maybe it will come in the end of the year or early 2018
Just buy the dip now if you want to make profit later

Well no doubt it will reach there but I hope not just yet. Let it fall badly so some stop losses can hit and latecomers can get some advantage.

China never banned bitcoin. it never even banned anything else remotely related to bitcoin!
and bitcoin price drop was not at all because of China and what they did. it was because of the FUD and panic that was spread in disguise of China news.

sure it can. the FUD can not last forever and the idiot weak hands have limited amount to panic sell. they will be flushed out of the market and then everyone else remaining will take advantage of the low price only. by that time it will be a competition over who can buy cheaper and faster before it is too late.

I think China is not the biggest problem. I believe China is invested too heavily to go for a complete/absolute ban. I'm more concerned about the people who make sure the $ doesn't get devalued -- their media reach still does magic.

Yes it can, but why without China? After some bad news and couple closed exchangers you are talking about China like they are out of the game but that can't be truth. Do anyone here knows how many miner's come from China? What will they do with mining rigs? After so many years in bitcoin making money they will just quit like that?
We need to see the end of this campaign against bitcoin and crypto currencies, I think Chinese government steps and some JP Morgan CEOs can try to stop bitcoin but that will not happen, they will fail once again and people of China will find a way to continue with earning and supporting bitcoin.

Even china ban bitcoin exchange to their country. For sure it will reach 5k dollars without the help of china because many country until today support and believe in bitcoin.  If you want to see bitcoin price reach again 5k dollars you can buy bitcoin at your first . Let show to china even withour their help we can reach 5k dollars any amount that we want to reach. Because they have unity.

Unless they start shutting down mines, sure

The answer is Yes - the closing of the dodgy Chinese exchanges makes it more likely that an ETF is approved for example, which would bring in a huge amount of institutional money from pension funds and the like.

When the SEC ruled on the ETF at the start of the year, they specifically mentioned price manipulation in unregulated exchanges for their reason for denying the ETF. They were referring to the Chinese exchanges which had fake volume, probably fractional reserves and all sorts of dodgy practices.

Of course yes. $5000 is still cheap.

The price is just a result of supply & demand.
China broght a lot of money and demand to bitcoin. But I see no reason why the rest of the world should not be able to compensate that.
Of course it would take a while, but people in other countries are turning to bitcoin as well.
The 5k are only a matter of time.

Sure. Even if China fully turns their back to crypto, we will have lost "only" about 1/5th of the world's GDP. Bitcoin's potential upside however is much more than that.



Even if they started shutting down the mines, there will always be more than enough hashpower to take their place. That's the beauty of it.

This year? In my opinion, probably not. But in the next few years, especially after the 2020 halving, it is almost a given that the price is going to go up to $5000 once again. In fact, i would even bet my money on btc going to at least $8k by the start of 2021.

But right now markets have turned bearish and i think will continue to be for a while.

China is a major player, but it's not the entire market. BTC will survive this, despite any shutdowns. But price will suffer.

I think it will largely depend on whether the USD 3k,- bottom holds. Should we break through, we're likely to face a prolonged bear market. Should USD 3k,- hold, I see BTC recovering rather swiftly.

Bitcoin has rebounded up to close to $4000 already and although it has dropped again, there is absolutely no reason why it can't go up once again as long as people are feeling the urge to buy. Chinese exchanges were already not used very much, people in China have moved to p2p exchanges like LBC long ago because regulations were so strict anyways.

If everything goes well then we can expect $5k+ by the end of the year.

If not, price will go into bear market, but we'll still be able to break $5k in the coming years no worries.

If you mean this month then i don't think that a 40% gain is likely at all. The top for this month should be around $4k and that is going to be the ceiling because people still are panicking irrationally about Chinese exchanges closing down.

Next month when traders especially Chinese traders realize that Localbitcoins will still allow them to trade, actually more conveniently, the price could potentially rebound back up to a level close to $5k.

But long term, we'll be going to $5k no matter what. Whether China is with us or not.

Yes, I do believe bitcoin will be able to hit the price of $5000 USD even without the investors and traders from China, but it will just take a longer period of time to hit that value, it would be better to hold your bitcoin for now and wait for the price recovery.

I am confident and believe bitcoin will be able to reach $5000 without investors from China because of the price will be increasing bitcoin up again so that the users of the bitcoin need not fear or worry about the bitcoin lately still declining probably due to the effects of the market development but this will be recovered again in the increased price of bitcoin later

Yes I am sure, the most important thing is there are more users that used Bitcoin for transaction and if we can explained and convince other people that Bitcoin is a great currency and investment not illegal currency that they believed I think it will faster the process to reach 5000$

Should do so with ease in my opinion.

It could pull back to around $2.5k-3k before rebounding but i think once the rebound happens the price will go up to $4k+ once again. It could even go without the pullback phase, and just go to $4k+ from the level we are at right now.

China is still going to be a big player. Localbitcoins is just going to be used instead of OKCoin/BTCChina. It's not going to be much different.

some people are taking about bitcoin banned by china, it's a fake news. some are taking about its a business plan & bitcoin will be recognized by China in future soon.  bitcoin is now increasing around 3700-3900$ and i believe at the end of this year, bitcoin price surely hit 5000$ again...

yes even without china we can do and go to the development of bitcoin which is much better. the market in China does have a very large base, but when we can convince more and more people to use bitcoin then more and more bitcoin demand in the world. this is the main factor that can make bitcoin better, the most perceived is the price of bitcoin can increase. so china is not the only bitcoin drive today, the world has to move and add more bitcoin to transactions in everyday life.

First, you said "without China", but did you also mean "without Chinese?"  ;)
Because they have tons of money in BVI and the likes and they will keep investing in this sort of high risk/high return game. Also, Wall Street guys and retails are expected to get into the scene pretty soon (maybe just waiting for another consistent drop?)

Yes it can, bitcoin can also bounce back to $5000 WITH China. China didn't ban bitcoin itself, how would they? It's the china-based exchanges that they shutdown. The decrease is not mainly because of what China did, it's because of the misunderstanding of the news that then created FUD. It happened before, chinese traders would just move to OTC trading and it's fine.

It should be able to:
- the 4 months ban of BTC withdraw in china some time ago actually prepared the world about it, and it didn't kill BTC;
- but OTC trade will most probably be banned as well;
- I wouldn't under estimate the influence of Chinese bitcoin supporters' influence in Beijing, they may already started lobbying. everything is still possible.

As said by someone here, there is no one dull day in BTC world... Let's see.

Of course!
Bitcoin is a global phenomenon and not bound to one nation!
Furthermore this is a great test! Bitcoin will show it's resiliency whatever one of the most powerful nations of this planet will do or say!
And it's people will also find ways to get some Bitcoin in the future. Bitcoin will be worth even more in the future after this fearful situations (fearful for some people with weak hands and who doesn't fully understand the power of Bitcoin). After each attack Bitcoin gets stronger and stronger. So what is happening now may be bad for the short term, but will be incredibly positive for the future!
Forks don't matter, social engineering and disrupting form the inside doesn't work, governments banning BTC doesn't work! BTC is a powerhouse!
Chinese exchanges will get either licensed or move to areas like Singapore, Taiwan, HongKong.
Bitcoin will continue growing in terms of it's value and of acceptance and user adoption as well. No reason to be worried. Just hodl and buy the dips!!

But sometimes I doubt this FUD not as easy as it is now. Because you have to remember we are feeling familiar the situation the price of Bitcoin drop down by FUD. Of course, almost traders have experience will transfer their money to USDT earlier than that time or hold their Bitcoin if missed good price. I worry the whales will create big breakdown in long time like few years ago again.

Should Chinese exchanges really cease to operate by the end of September / October it would actually be better for Bitcoin than all this speculation on what happens next. China is a big market, but Bitcoin can do well without it.

Either way, this year's market is not really comparable to 2013. The growth spurts of 2013 took place over much shorter timeframes, so naturally a strong correction had to occur. This time around growth was way saner, leading to elevated, yet stable price levels.

If worry about whales means please ignore because they are not able to maintain the dump for some days now bitcoin again started increasing in the chart.

If you are trader, you can still utilize this time and can buy bitcoin as much you can with your trading etiquettes. Holders also can hold since you see the last peak value again.

Yes it will definitely reach to $5000 but may take a little longer as it was expected to reach much higher than that at the end of this year, but after the dramatic fall due to China ban on cryptocurrency exchanges happened.
It is not only China involved in bitcoin till now they were the largest traders of bitcoin , now someone else will take that place because the whole world is chasing bitcoin. We may see some more dips to bitcoin in the coming month after the Chinese exchanges closes their operations but it doesn't mean that bitcoin can't survive without China. May be China's shutdown bring it to a slowly progress but bitcoin will move on.

Look history,btc price one year ago was 550$ than was dump to 300$ ,Left all that dump news it was correct nothing less nothing more.Better look Seagwit btc ransaction time is 5 min,but not all services switched to seagwit

Even though the bitcoin is banned in China few weeks ago.Now they realise and start to accept bitcoin for their transaction.Many think about the price of bitcoin is low now.But just think few days ago the reach 3100$.But now is like  3800$.Only bitcoin will raise this much.Not a single altcoin will have this much power.

Bitcoin can easily reach $5000 again, But as we all know that China was the biggest consumer of Bitcoin in the past. China has the major part in Bitcoins. Right now the price will stabilize for some time and then maybe it will raise or maybe it can start falling for some time.

We have proven already that bitcoin can exist without the Chinese market. Japan, South Korea and the West have enough to covered for the trading volumes that China will left if ever they are really planning to ban bitcoin. The thing is, they still have the control of the bitcoin mining so evidently they will have the capacity to affect the market. Of course $5000 is really possible, as long as the big markets in Asia minus China, USA and Canada will continue and even double its trading volumes and activity in the next coming weeks.

It is the ICO and the exchanges and not bitcoin. Miners will still continue to do what they do.
But if ever they will then sure it can stand up again because this will be a great opportunity for new buyers to buy at a cheaper price rather than 5000 dollars.
Look where it is again and it is proof that it can go back up in no time

I am pretty sure we are going to reach $5000 by the end of the year. The price could have fallen more but it haven't!

It is all just a matter of time. It will be with China.

Chinese government run and regulated exchanges will be here before long.

There is no way that they will turn away from this future coming, they just want a large role in the way it happens.

Sure, China is not everything, there is a big worldwide demand for btc.

You're getting a lot of responses coming from people who I'd call extremely optimistic. I think Bitcoin does have the potential to go up again, but I don't think it's likely in the short term. I think more countries need to adopt BTC and crypto. If ICOs and Bitcoin find a new home in a different country, it's possible that it will do well.

China have a big slice portion btc, they close exchange doesnt mean they totally can't access right? so i believe btc will raise again slowly. this is just effect panic

China is a major player, but most of the trades are distributed around the world. In addition, Chinese people can still buy and sell Bitcoin through p2p trading.
The good thing is that now no one can complain about China manipulating the price.

Probably it can and we also hope too. There'll be another hardfork in the month of November and that's a good chance especially if the hardfork will be successful. As far as I remember, the success of the recent hardfork last month of August, made Bitcoin to reach the 4500$ mark in just a short period of time. And hopefully, same thing will happen in the coming hardfork.

It's true, before everyone thinks that China is manipulating the price of bitcoin and now if the price gets higher again, then there's new person to blame with it and that is Dimon. We can't deny that China is one of the big contribution in the market of bitcoin but bitcoin isn't only for them or about them but it's market is circulating all around the world so it's possible that bitcoin can still be $5,000 w/o them.

Yes the community ought to be celebrating because it is actually a good thing happened to us. On a number of occasions in the past, the market have had its soar punctured by China Acupuncture needles because they are afraid of Yuan losing it to Bitcoin and yet there not much they can do to stop Bitcoin, as a matter of fact, they are already late the revolution across globe already started in 2009.

Answer is "No, btc CANNOT reach $5000 without China."

Simply because China controls over 60% of mining hashrate, 40% of all bitcoins mined so far are in the hands of Chinese. The Chinese Communist Central Party seems determined to stop the outflow of cash from China to abroad. This is all part of Xi Jinping's attempt to root out corruption in the government and also to consolidate more power within his grasp. He's currently facing a Central Party convention next month and needs to show who's the boss. Heads will roll before this is over in China. Exchanges will be shutdown, lawbreakers will be jailed and even shot as an example. Wait and watch. Bitcoin in China is facing existential threat right now. I expect Chinese Communist Party to slowly strangle it, not sweep it away in one fell swoop. This will take some time before bitcoin is snuffed out in China.

China is a big country and it is a very big contributor in bitcoin but even though China ban bitcoins it will surely recover as there are many countries who adopted it already.
So for me there is a big chance that it will reach to 5k within this year.

I think 5000 dollars is a very distant target, it is very difficult to reach this level until the end of this year, maybe we will find our chance in 2018 :)

I think china will not completely ban bitcoin. this will take place in just a few moments, the Chinese state will come back and stop the ban on the use of bitcoin. so I still believe that there is no ban on bitcoin in any country in the world. the development of bitcoin will prove that bitcoin is currently in great demand and is also welcomed openly by the world community.

No, I think we might be able to see $5000 by end of this year. China has definitely caused a major setback in it, BTC was going to cross $5000 in August itself but it didn't because of China. Now since it is recovering, if it continues this up trend we should be able to see $5000 by end of the year.

Yes bitcoin price will eventually reach 5000USD even without China. However it will take time.
If China will release news that they will support bitcoin then reaching 10k USD next year is not impossible, this what I think.
Let's just wait the news about China if they completely adapt o reject bitcoin. The only thing I am sure is that no one can stop bitcoin. :)

Bitcoin wasn't totally banned in China only the ICO's, in my opinion bitcoin have a capacity to achieve $5000 without China. However it's a long term before it happen, because if we see Chinese country had large effect to the value of bitcoin due to high numbers of bitcoin members in China were stop for the meantime due to banning of ICO's.

I think it can reach 5000$ again once people see situation is really stable without China participation. Chinese will also move to other ways of using Bitcoin that are not banned. It will go on up.

I think it can china is the market of the world most of the things are made in china so if china says no that means it is actually a big difference  after that the us and after that Europe if we all say no bitcoin then bitcoin price will surely die.

I'm sure bitcoin price will rising again and reach $5000 back, i think next month is also likely to reach $5000. Whatever news comes out, i only know bitcoin price of course after got decreased it's certainly will be rising back on its prices, and i believe bitcoin value will remains strong and bitcoin remains one of the most important intermediaries to get profitable, that's only.

Well i think because china really did affect the price of btc and it got people into some dilemma. Because china was a big contributor in btc and how it was recognized around the globe but as far as i know, there are still a lot of countries are invested in btc and i think it could also be enough to get the price of btc increase from time to time even if there were any issues regarding another price decrease.

I think it's still possible for btc to reach it with or without China. There are lot's of bitcoiners all over the world and many more countries sees it potential so btc can go a long way without it.

Yes surely it will,...already we have seen bitcoin begin to rise again and bitcoin is not only dependent on China...i am pretty sure that bitcoin will hit 5000$ soon

For me, bitcoin will still reach $5000 again just like before, bitcoin potential is very high with or without China.  It will still reach $5000 maybe by the end of the year.

The price has recovered to be above $4,000 now, I don't see any reason why we will not see $5xxx again in the short to medium term. The weak hands have been shaken out.

China Continues Shutdown

China will close some bitcoin exchanges during September. China’s regulators have said  exchanges need to close because they don’t have formal licenses.

There is a document circulating as well that explains what exchanges need to do. One exchange, BTCC, said it will shutting down and users ought to get their funds back by Sept. 30.

Some exchanges may not shut down, including Huobi and OKCoin. It is possible that China wants to radically decrease the number of exchanges so as to better control them.

Alternatively, government may actually take control of whatever exchanges are left. There is speculation that government does not want to shut down the sector entirely. The plan is not yet clear and the government is in no hurry to explain itself.  Presumably it will do so in due time.

Yes, It can. The price of bitcoin is $4000 today and that is can happen without China.
Many companies have accepted bitcoin and demand of bitcoin still rise until now.
Bitcoin price will rise $5000 in the end of this year with or without China.
If China has forbidden the bitcoin transactions, there are countries will legalized bitcoin in the future such as Japan.
That is balanced. So, don't worry about that. Just wait and be patient.

I don't see what setback you are talking about here, if there was one, we won't be talking about over $3500 per Bitcoin only few days after such an announcement. The fact that the market was able to bounce back from under $3000 is a clear testimony to the fact that still without China, Bitcoin is still posed to get to where it was headed. The rest of the world are behind Bitcoin and they are in the majority and that is all that matters.

He must be talking about the fake news that are spreading towards the forum, that is why the price plummets down, but as what you are saying we are heading to a positive direction of going up again and I think the fear on each and every one was uplifted and right now is a good time to really buy to your hearts content because I can feel that the price is ready going up.

the opportunity price increases up to $ 5000 is indeed very open. we have had a bad day a week ago but now we have started it again. we are on a positive track and are also trying to increase the price ahead. china is a big part of bitcoin users, but I'm sure people in China will start over using bitcoin despite the ban on the use of the Chinese government. the world will most certainly feel if the loss of china. but like what I said that china will slowly and begin to adopt bitcoin. the fact is they do not completely ban bitcoin, china just wants to revolutionize its use because it is useful to record the use of bitcoin in their country.

Bitcoin dropped because of the panic situation made in the market. Now people are getting info that china Govt have not ban bitcoin there they have ban the exchange sites which does not have any licence so the panic state are dissolving down and bitcoin is coming back to its normal price. So the there is a possibility again that the bitcoin reach the $5000 mark within this year.

I agree that bitcoin will still continue to rise even without China. Like right now, bitcoin is recovering from dropping under $3000. I believe that it will possibly soon to happen that bitcoin will probably reach $5000 again.

You seem to be rather uninformed as well. Exchanges are no longer allowed to offer any kind of CNY trading pairs, and that's not the result of exchanges not being licensed properly. Exchanges such as OKCoin, Huobi and BTCC are properly registered and licensed, but still have to act in form of halting CNY trading. All other activities that fit within the portfolio of these exchanges keeps running normally, because they are not affected by these regulations. Is it possible that even these non CNY activities will end up being targeted by the Chinese government? Who knows, but for now there is not much that we can do other than to wait how things will play out in the coming weeks/months.