Bitcoin Forum

Why is the price going up again? Was there any announcment from PBOC (china central bank) that it wont ban bitcoin...? I think the issue is stil not resolved...?

Its mostly pro-dump now, past week was china making money from us!!

I actually buy this.

China is cash-strapped right now and their housing bubble is in the process of bursting, if those in the politboro make it appear that they are going to ban it they can devalue, buy buy buy, and then never actually ban it (or ban it and still be holding a considerable amount of wealth). China has been buckling down on export of the Yuan and has been actively buying it back too.

Maybe this buying BTC on the cheap by corrupt China is an indication that the bubble is about to pop ;D

i dont think the bear market and bull markets reall apply with bitcoin. bitcoin is worth whatever someone is willing to pay for 1 at any given time. sometimes 1$ sometimes 1000$

Q2 has officially started.

well i think that if they will have some bubbles poping, they will ban bitcoin to not further damage their economy...i  sold half of my bitcoins and placed orders back in 300 and 250 highs.. :-)

Even a dead cat will bounce if it falls from a great height.

+1

this will be too early to say price is going up..! it is around 470$ and I won't say it till 600$.

Maybe because smart people begin to realize that if this ban project was real, PBOC wouldn't wait so long for announcement; they can't wait the last day and say: "ban ! owned now".

This rumor is a good fake but is not perfect just find the clew with your mind and not with your fear.

Price will go on increasing.

Chinese will be lucky not to be sentenced to death if they use cryptoscurrency which main purpose is obviously money laundering and financing terrorism beside the fact that a western ponzi is stealing shameless from the pocket of poor chinese people.
PBOC will show no mercy. They will hammer down the nails soon, just like they did it with Alipay a few weeks ago.


http://www.businessinsider.com/r-china-central-bank-orders-halt-to-online-payments-using-qr-codes-2014-13

No. That's not how the Chinese gov works. They will never say things directly if they can say it in some twisty cunning way that lets them change their mind later on if it is to their advantage.

The price could still go much lower if a more clear "ban" is issued*, but I think that it would be mainly as a result of Chinese people selling (and only weak hands in the west). Ask yourself: how much of tha last bubble was a result of the Chinese buying? Then you know how low bitcoin will potentially go.

I myself am buying all the way down, starting now. See you guys on the other side  :D


* I called it a ban, but it could rather well just be by banning something else related to btc, that will be as efficient as a real ban.

50% and another 40% have been made up with fake Gox money.
So we will at least go down another 50% , probably more due to western people sellin and/or leavin the market if the price drops further.

Good call. What we're seeing now is called "retracement." It does not mean the price is going up indefinitely. It'll retrace a bit, then retest the $450 low, and probably go lower.

Sometimes it's allowed to go up. It's not illegal.

Not yet.

http://i0.kym-cdn.com/entries/icons/original/000/005/498/1300044776986.jpg?1301826641

I would really like to hear the reasoning behind this

-I lol'd! hahahaha

Me too.

To me it is nothing but bull market, bear market, bull market. Ok occasionally a flat market too.

His reasoning is his username.