Bitcoin Forum

price broke the $1060 resistance on bitfinex recently and it seems to be on the rise. all the China and PBOC daram has slowed down and now price is rising again.

what are your thoughts on this rise?

i am expecting continuation this time, maybe even touching the $1100 again in less than 2 days.

The PBOC attacked again but you didn't even notice because the price kept going up and didn't even bother to dip a bit. They delayed withdraws for more time, this news in the past would have caused a crash, but china is no longer relevant.

I didn't expect that we will see upward trend. No after 2nd PBOC intervention causing biggest Chinese exchanges to stop bitcoin withdrawals.
There is rumor that Chinese traders are starting to disregard government actions and attempts to curb bitcoin trading and are focused more on p2p trading.
This would explain mild bullish trend in spite of the ongoing investigation on money laundering in China.

Look at the price difference from OkCoin to Bitstamp/Bitfinex.

It used to the OkCoin the one with the highest price, that means china was dictating the market. Now the market leaders are not china anymore, and bitcoin keeps growing.

This simply means now china is looking at Bitstamp/Bitfinex for price reference, chinese price is now irrelevant.

I don't know.As soon as we hit the 1000€ again I could imagine another FUD attempt.
But as some others already have layed out the effects of it are decreasing. People don't fall for that sh** anymore so easily.
A run close to the old ATH would be awesome. Maybe we will see a really exciting weekend!
Fingers crossed!

Don't get too excited another "inspection" is incoming.

Haha, yeah that comment nearly sent coffee shooting out of my nose.  ;D


A follow-up to the follow-up to the follow-up "inspection"?  ;)

I am not that excited to be honest. It's just growth that is (possibly) the result of the soon to be approved (or not of course) ETF from the Winklevoss twins. Just don't start with counting profits already. Especially when you consider how easy it is to go back to just under and above the $1000 level movements. The PBOC still has a massive impact on the price, don't underestimate this factor just because the price is going up, because as I said, the price is back at flat $1000 before you know...

the another inspection came then another another inspection came too. i guess you missed it. and also because of it the Chinese exchanges increased the length of them blocking the withdrawals.

these exchanges are practically out of the game as of 2 days ago when volume moved away from them.

p.s. i wouldn't be surprised to see another shakeout happen though!

In my opinion, this is classic "buy the rumour", stuff. The rumour being that the ETFs will get approved by the SEC. We should see some profit taking as the decision date approaches, and if the ETF gets rejected, the mother of all sell-offs.

I see it very easy get to $1100 now.
Cause we have been on this price before so there is not any resistance to stop it from going there again very soon.

inspection of what? chinese exchange? the last one caused nothing to the market, bitcoin is strong than ever now, will top again the last peak of 1160 imho, last but not last i've read that now the leaders are japanese china will not make any difference from this point

They can do these inspections whenever the hell they want. They can perform surprise inspections incase they think something is hidden and can be foiled before they are able to hide it.

The suspension of BTC withdrawals creates artificial selling pressure since anyone that just wants to withdraw has to sell first. So the price may catch up once the suspension is lifted.

I still can't figure out why people think the price is propped  up by the ETF. It's not likely to go through anyway, and the bitcoin economy functions just fine without it. There are a lot of well tested support levels that would not make sense if they depended on a low probability event.

Traders need a reason to justify a sell-off, real or imagined.

i think befroe bitcoin price incraese reach 1100 dollar can down again
maybe bitcoin price can reach 1070 -1075 dollar, bitcoin price down
and then in march after china exchanger can normal withdraw again, bitcoin price can incraese very high

I think that finally investors and traders of bitcoin have finally realized to not become so fearful when something bad happened, we are becoming more resilient to the obvious attempts to curb the price of bitcoin.

I am just curious how high this rally will go until ETF / March 11. I am guessing this is  a build up for the anticipation of ETF approval or disapproval or another delay. ETF is not yet apprived and its push to the price can be felt already. I hope it will be a lot higher when it gets approved.

Goes through $1200 by month end  8)

Im hoping this time that bitcoins price wont dip its price again or some any other news which makes the price of bitcoin would go down. Seeing on the chart it does break the resistance and that breakout signifies a strong buy which means adoption is on the move.

Getting anywhere over $1000 now is not a big deal. The big achievement was to break the $1000 barrier, now we have definitely broken it and over it so now the price will fluctuate like it used to.

don't be so hasty!
we have seen the $1000 resistance be broken and now we are seeing bitcoin price sitting at $1060 but there are a lot of different things going on these days that can affect the price in short term.
one of them is the good old China and all the FUD that comes with it.
and then there is ETF and all the speculation about it which can go both ways depending on the result.

Yeah obviously the usually China, and the ETF would affect the price in the next month, but there are dedicated topic for that, I thought this was for overall bitcoin price in the coming months.

What if the suspension isn't lifted?

Seriously, they are making them do AML checks, and it is quite possible lots of members of those exchanges FAIL their AML checks. I don't think that possibility is priced in at all. People are assuming that everything will be fine and withdrawals will resume as normal in a month - but what if a good chunk of people can't withdraw?

IMO, no matter what happen just keep holding bitcoin as much as possible since bitcoin has increased trend nowadays.
I'm also look on my local exchanger and they predict the value will increase 10 %

didn't i tell you the price is going to explode :)
we even broke $1200 barrier today and still at a very good price.

right now it ispossible for some temporary dump, because panic sellers going to start their idiotic panic soon and then we'll work from there.

get your purse out cheap coins coming.